Vhutshilo won R165 000 and decided to deposit 65% of this amount in an account earning 8,25% interest per year, compounded every four months. The accumulated amount after five years is 1. R247 862,83. 2. R151 490,63. 3. R248 203,55. 4. R161 110,84. 5. R161 332,31.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Vhutshilo won R165 000 and decided to deposit 65% of this amount in an account earning 8,25% interest per year, compounded every four months. The accumulated amount after five years is
1. R247 862,83.
2. R151 490,63.
3. R248 203,55.
4. R161 110,84.
5. R161 332,31.
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