KillSwitch
New member
Mr Jones bought a car for R 360 000,00 . He had taken a loan from the bank to pay for the car, the bank charges him interest at 12.6 % p.a compounded monthly. Mr Jones wishes to settle the loan over 5 years.
1) calculates Mr jones monthly installments
2) Mr jones took unpaid leave after 42 months for 3 months, and cannot pay installments for this 3 months, calculate the balance he has to pay after the 42 months
3) calculate the balance has to pay after the 3 months has gone by
1) calculates Mr jones monthly installments
2) Mr jones took unpaid leave after 42 months for 3 months, and cannot pay installments for this 3 months, calculate the balance he has to pay after the 42 months
3) calculate the balance has to pay after the 3 months has gone by