Susan's dream house is estimated at $100M. The prevailing rate of interest is 12 percent per...

 

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Susan's dream house is estimated at $100M. The prevailing rate of interest is 12 percent per annum compounded continuously. If Susan were to obtain a 25 year loan for the procurement of the house, determine her: monthly payments (iv) total payments total interest to be paid Calculate the difference between the time taken to double an investment at the rate used for Susan's loan and the time approximated by the Rule of 72? (Express your answer to the nearest day) (7 marks) (1 mark) (2 marks) (5 marks) Susan's dream house is estimated at $100M. The prevailing rate of interest is 12 percent per annum compounded continuously. If Susan were to obtain a 25 year loan for the procurement of the house, determine her: monthly payments (iv) total payments total interest to be paid Calculate the difference between the time taken to double an investment at the rate used for Susan's loan and the time approximated by the Rule of 72? (Express your answer to the nearest day) (7 marks) (1 mark) (2 marks) (5 marks)

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A payment schedule is prepared using excel We had taken Interest Rate as 1 per month 12 annually A period of 300 was taken in months since we had to calculate monthly payments The formula to arrive at ... View the full answer