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QUESTION 1 1.1 You are to repay a loan of R14 000 over 320 months. If the interest rate is 48% per annum compounded monthly.

QUESTION 1

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1.1 You are to repay a loan of R14 000 over 320 months. If the interest rate is 48% per annum compounded monthly. Calculate the following: 1.1.1. Given a residual of O, determine the interest paid from month 25 to 36. (5) 1.1.2. Determine the principle paid between months 25 and 36. (5) 1.1.3 What is the interest paid during the 48th period

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