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An amount of R3500 must be paid 3 years from now. Another amount of R6400 must be paid 9 years from now. Interest on the
An amount of R3500 must be paid 3 years from now. Another amount of R6400 must be paid 9 years from now. Interest on the first debt is calculated at 12.6% p.a compunded every four months. interest on the second debt is calculated at 24% p.a compounded monthly. Instead of these two amounts being pid separately, a single amount of money (rounded to the nearest cent) paid 7 years from now as to amortise the debt is equal to R
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