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amopogo3 amopogo3
  • 27-05-2024
  • Mathematics
Answered

  1. Gabriel buys a van that costs R 840 000. He pays a 20% deposit and takes a loan to repay the
    remainder. The terms of the loan are as follows:
    Interest rate: 12% per annum compounded monthly.
    Duration: 7 years.
    What is Gabriel's monthly instalments to pay off the loan?
    A. R 10 843.77
    B.R 14 840.98
    C.R 11 862.64
    D. R 12 376.92
    ​

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