Question: kindly solve this question on paper & show full working. Thank you Questions 13 and 14 are based on the following information: Zodwa needs R450
Questions 13 and 14 are based on the following information: Zodwa needs R450 550,00 to buy a house. The bank approved her loan for the full amount at an interest rate of 25% per year, compounded quarterly. The loan must be paid off in ten years' time. Question 13 Determine the size of Zodwa's quarterly payments [1] R30 892,75 [2] R12 765,30 13] R41 285,46 (4) R28 159,38 Question 14 What will the outstanding balance on Zodwa's loan be at the end of seven years if the interest rate remains unchanged? [1] R10S 570,57 [2] R255 486,74 [3] R341 444,00 (4) R232 881,47 Question 15 Mr Sundani wants to buy a car in three years' time. He starts investing R3 000,00 per month at an interest rate of 13% per year, compounded monthly. Determine how much he will have after three years. [1] R8 808,46 [2] R10 220,70 [3] R1 095 601,50 [4] R131 230,04 Question 16 Moses invests R3 745,35 at the end of each month at an interest rate of 14.5% per year, compounded monthly. How long will it take him to have R1 000 000,00? Give your answer to the nearest year. [1] 4 years [2] 3 years [3] 10 years [4] 8 years
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