Question
when buying their home,the Lee family takes out a 15 year loan. Their monthly payments are R5842the interested rate is 10,5 percent per annum,compounded monthly.the amount of money they borrowed were?
Answers
Use the PV formula I showed you in your previous post
Related Questions
You need to borrow $20,000 to buy a car. You can only afford to make monthly payments of $200. The b...
You need $200,000 to buy a new home. The bank offers a choice of a 30-year loan at an APR of 8% or...
You have just taken a 30-year mortgage loan for $200,000. The annual percentage rate on the loan is...