Question

with reference to previous question,what is the outstanding principle at the beginning of the second year,rounded to the nearest rand

Answer 1

beginning of 2nd year ---> end of first year.
I will assume the 12th payment has been made

outstanding balance
= 230000(1.01625)^12 - 3817.23( 1.01625^12 - 1)/.01625
= ....