Скачать или смотреть 💰 “Smart Home Loans: Applying Financial Mathematics to Real-Life Problems”

This problem focuses on Financial Mathematics, specifically the use of compound interest and loan repayment (annuity) concepts.

John plans to buy a house for R750 000, pays a 20% deposit, and borrows the remaining balance from the bank. He then repays the loan through monthly instalments of R9 000, with an interest rate of 12.86% per annum compounded monthly.

In this activity, you will:

Calculate the loan amount after the deposit (principal borrowed),

Apply the compound interest and annuity formulas to determine the repayment structure,

Explore how interest rate and time affect total repayment, and

Understand key financial terms such as deposit, principal, interest rate, and amortisation.

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