19 You aim to buy a new car in five years' time. The car will cost...

 

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19 You aim to buy a new car in five years' time. The car will cost you $32,000. Interest rates are 6%. How much should you save a month in order to have the right amount of money available? (3) 20 You are going to borrow CHF 200,000 for twelve years at 4.5% to finance a house extension. What is the quarterly amount you need to pay to repay the loan over 12 years? (4) 19 You aim to buy a new car in five years' time. The car will cost you $32,000. Interest rates are 6%. How much should you save a month in order to have the right amount of money available? (3) 20 You are going to borrow CHF 200,000 for twelve years at 4.5% to finance a house extension. What is the quarterly amount you need to pay to repay the loan over 12 years? (4)

Answer rating: 100% (QA)

19 To calculate the monthly savings needed to have 32000 in five years time we can use the formula f... View the full answer