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Question 2 (a) Susan's dream house is estimated at $100M. The prevailing rate of interest is 12 percent per annum compou
Posted: Thu May 05, 2022 8:37 am
by answerhappygod
- Question 2 A Susan S Dream House Is Estimated At 100m The Prevailing Rate Of Interest Is 12 Percent Per Annum Compou 1 (22.98 KiB) Viewed 23 times
Question 2 (a) 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: (i) monthly payments total payments (ii) (7 marks) (1 mark) (2 marks) total interest to be paid (iv) 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) (5 marks)