I1239,0U Question 6 Mzomuhle takes out a personal loan of R439 200,00 to help finance the building of his holiday house. The terms of his loan specify equal three-monthly repayments over five years, with 13,2% interest per annum, compounded quarterly. The first payment is made three months after the loan was taken out. This is represented by the following time line: 1 4. 18 19 20 quarters 1 3 12 54 55 56 57 58 59 60 months P = R439 200,00 @13,2% per annum, compounded quarterly First find the size of the three-monthly payments. Then considering the amortisation schedule, find the total interest charged over the first year of repayments. [1] R12871,85 [2] R54 766,00 R66 618,00 (4] R167720,00 3
I1239,0U Question 6 Mzomuhle takes out a personal loan of R439 200,00 to help finance the building of his holiday house. The terms of his loan specify equal three-monthly repayments over five years, with 13,2% interest per annum, compounded quarterly. The first payment is made three months after the loan was taken out. This is represented by the following time line: 1 4. 18 19 20 quarters 1 3 12 54 55 56 57 58 59 60 months P = R439 200,00 @13,2% per annum, compounded quarterly First find the size of the three-monthly payments. Then considering the amortisation schedule, find the total interest charged over the first year of repayments. [1] R12871,85 [2] R54 766,00 R66 618,00 (4] R167720,00 3
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question 6
Mzomuhle takes out a personal loan of R439 200.00 to help finance the building of his holiday house. The
terms of his loan specify equal three-monthly repayments over five years, with 13,2% interest per annum,
compounded quarterly. The first payment is made three months after the loan was taken out. This is
represented by the following time line:
1
18
19
20
quarters
1
2.
3
12
54
55
56
57
58
59
60
months
P = R439 200,00
@ 13,2% per annum, compounded quarterly
First find the size of the three-monthly payments. Then considering the amortisation schedule, find the total
interest charged over the first year of repayments.
[1]
R12871,85
R54 766,00
[3]
R66618,00
(4)
R167 720,00
3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F59dc45f5-4eca-46e8-9986-eafdd0b4ed88%2Ff62a918f-e7df-4b04-a765-653ae1733a14%2F2h2lwfg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In
Se
De
n259,00
Question 6
Mzomuhle takes out a personal loan of R439 200.00 to help finance the building of his holiday house. The
terms of his loan specify equal three-monthly repayments over five years, with 13,2% interest per annum,
compounded quarterly. The first payment is made three months after the loan was taken out. This is
represented by the following time line:
1
18
19
20
quarters
1
2.
3
12
54
55
56
57
58
59
60
months
P = R439 200,00
@ 13,2% per annum, compounded quarterly
First find the size of the three-monthly payments. Then considering the amortisation schedule, find the total
interest charged over the first year of repayments.
[1]
R12871,85
R54 766,00
[3]
R66618,00
(4)
R167 720,00
3
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