You are considering buying a car for R650 000. The bank has quoted you an interest rate of prime plus 1% per annum, comp

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answerhappygod
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You are considering buying a car for R650 000. The bank has quoted you an interest rate of prime plus 1% per annum, comp

Post by answerhappygod »

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%
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