Natasha van Vuuren decided to make renovations to her property. The renovations will cost her R300...

 

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Natasha van Vuuren decided to make renovations to her property. The renovations will cost her R300 000. Investec Bank has agreed to give her a loan at a nominal rate of 15% per annum compounded monthly in arrears, provided that she can put down a deposit of 20% on the cost price of R300 000. Calculate her monthly payments if the loan is to be paid over 48 months. Natasha van Vuuren decided to make renovations to her property. The renovations will cost her R300 000. Investec Bank has agreed to give her a loan at a nominal rate of 15% per annum compounded monthly in arrears, provided that she can put down a deposit of 20% on the cost price of R300 000. Calculate her monthly payments if the loan is to be paid over 48 months.

Answer rating: 100% (QA)

To calculate Natashas monthly payments for the loan you can use the formula for the mon... View the full answer