PigeonP13641 PigeonP13641

29-05-2024
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Answered

Gabriel buys a van that costs R 840 000 . He pays a 20% deposit and takes a loan to repay the remainder. The terms of the loan are as follows:
Interest rate: 12% per annum compounded monthly. Duration: 7 years. What is Gabriel's monthly instalments to pay off the loan?
A . R 10843.77
B . 14840.98
C . R 11862.64
D . R 12376.92

Answer :

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