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ONLTVM 3 7 Home Loan Unakho Interests + Paid Offs 0 0 : 0 0 April 2 9 , 2 0 2 4 Weight =

ONLTVM37Home Loan Unakho Interests + Paid Offs00:00 April 29,2024 Weight =2%Unakho has a 20-year home loan on an Apartment in Cape Town since the startof December 2018. The size of the loan was R1.595 million and the interest ratewas 13.75% p.a. compounded monthly. Assume that they paid, every month,the minimum required instalment from the start. Also Assume that the interestwill remain the same for the entire term. Assume that today is April 23,2024.Also assume that all payments are at the end of the month.1. Determine the balance on their home loan now.2. Determine the total interest to date.3. Determine the interest for 2023.4. Determine the interest for last month.5. Determine the amount paid off to date.6. Determine the amount paid off for 2023.7. Determine the amount paid off for last month.8. Determine the amount paid to date.9. Determine the total interest for the entire term.

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