Lynette wants to open an Early Childhood Development Centre and borrows R450 000 from her uncle....

 

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Lynette wants to open an Early Childhood Development Centre and borrows R450 000 from her uncle. She realises that she will only be able to start paying him back five years from now. Money is worth 9,8% per year, compounded every three months. The amount of money that Lynette will then (after five years) have to pay Uncle Raphael every three months for four years to pay off her debt is O A. R54 796,89. OB. R51 159,99. OC. R55 609,19. O D. R55 716,45. Lynette wants to open an Early Childhood Development Centre and borrows R450 000 from her uncle. She realises that she will only be able to start paying him back five years from now. Money is worth 9,8% per year, compounded every three months. The amount of money that Lynette will then (after five years) have to pay Uncle Raphael every three months for four years to pay off her debt is O A. R54 796,89. OB. R51 159,99. OC. R55 609,19. O D. R55 716,45.

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Solution In order to calculation of monthly payment to be made t... View the full answer