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4 . 2 Peter wishes to purchase a motor vehicle from a dealer in Johannesburg for R 1 5 0 0 0 0 . His
Peter wishes to purchase a motor vehicle from a dealer in Johannesburg for
R His bank, ABSA, is prepared to lend him the money on condition that he
undertakes to repay the loan monthly in advance over a period of months. If
interest is to be charged at per annum compounded monthly in advance, what
will his monthly instalment be
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Financial Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
