Mr Ondigo took a loan from ABC Bank amounting to Kah 2 400 000 to buy...

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Mr Ondigo took a loan from ABC Bank amounting to Kah 2 400 000 to buy a piece of land in Nairobi. The bank charged interest of 15% p.a. compounded after every four months. (a) Giving your answers to the nearest Ksh 1 000, determine: The total interest to be repaid fully after 4 years. € The amount owing after 3 years if Mr Ondigo made end yearly repayment of Kah 840 000 each. (4 marks) MI (b) The land appreciated at 10% p.a. Mr Ondigo su rough an agent who charged 8% commission on the sale value. If the land was sold at its fair value at the end of the fourth year, how much did Mr Ondigo receive from the agent? Mr Ondigo took a loan from ABC Bank amounting to Kah 2 400 000 to buy a piece of land in Nairobi. The bank charged interest of 15% p.a. compounded after every four months. (a) Giving your answers to the nearest Ksh 1 000, determine: The total interest to be repaid fully after 4 years. € The amount owing after 3 years if Mr Ondigo made end yearly repayment of Kah 840 000 each. (4 marks) MI (b) The land appreciated at 10% p.a. Mr Ondigo su rough an agent who charged 8% commission on the sale value. If the land was sold at its fair value at the end of the fourth year, how much did Mr Ondigo receive from the agent?

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