ONLTVM$38$

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Andisiwe and

$(405)$ I I $m$ Gon

LTVM$38\%20-\%20$Home$\%20$Loan$\%20-\%20$Interests$\%20$and$\%20$Paid$\%200$ffs$\%20-\%20$Andisiw.

e$.$pdf

$\frac{1}{7}$

$100\%$

$00$:$00$ April $29,2024$

Weight $=2\%$

Andisiwe and her husband, Thobela, have a $20-$year home loan on a house in Boson, Bellville since the end of $2010.$ The size of the loan was R$2\mathrm{.}575$ million and the interest rate was $14\mathrm{.}25\%$ p$.$a$.$ 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 $10,2024.$ Also assume that all payments are at the end of the month,

Determine the balance on their home loan now.

Determine the total interest to date.

Determine the total interest for $2022$ and $2023.$

Determine the interest for last month.

Determine the amount paid off to date.

Determine the amount paid off for $2022$ and $2023,$