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Andisiwe and her husband, Thobela, have a 2 0 - year home loan on a house in Boson, Bellville since the end of 2 0
Andisiwe and her husband, Thobela, have a year home loan on a house in
Boson, Bellville since the end of The size of the loan was R million
and the interest rate was pa compounded monthly. Assume that they
paid, every month, the minimum required instalment from the start. Also
Assume that the interest will remain the same for the entire term. Assume that
today is May Also assume that all payments are at the end of the
month. If Andisiwe and Thobela will continue with the monthly minimum
payment, how much will they have paid over the years?
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