You are considering buying a car for R650 000. The bank has quoted you an interest rate
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Question:
You are considering buying a car for R650 000. The bank has quoted you an interest rate of prime plus 1% per annum, compounded monthly. calculate the monthly instalment if you wish to repay the principle amount over 5 years calculate the monthly instalment. assume a prime interest rate of 7%.
Related Book For
Money Banking and Financial Markets
ISBN: 978-0078021749
4th edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
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