Mathematics, 11.05.2021 20:40 ariannanykole1

R118 212, 21 Question 16
A family takes out an R800 000 mortgage from the bank to buy a new home. The bank charges
interest at an annual rate of 14% compounded monthly over 20 years. How much of the
outstanding balance on the loan will the family still owe at the end of the first year?
1. R772 687,39
2. R783 083,94
3. R792 129,68
4. R799 385,17

Answers: 3

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R118 212, 21 Question 16
A family takes out an R800 000 mortgage from the bank to buy a new ho...

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