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A newly wedded couple is planning to buy a two bedroom apartment in Windhoek for N$ 2 8 0 0 0 0 . He is
A newly wedded couple is planning to buy a two bedroom apartment in Windhoek for N$ He is expected to pay a deposit and they can secure a bond from a local bank repayable over years at pa interest.
a What is the total amount of money expected to be paid to the bank over the years? N$
bi What will be the couples monthly installment? N$
ii Calculate the monthly interest amount they will have to pay? N$
iii What is the monthly principal amount to be paid?
iv what is the total interest amount to be paid at the end of the bond period?
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