You are buying a flat for R1 million. You don't have a deposit, and obtain a 100% bond to be paid off in equal monthly payments over the next 20 years. The bank charges you interest at an effective monthly rate of 0.75%. You also need to pay a bond admin fee of R75 per month. (Note: the bank calculates the interest daily, and you repay the bond in equal monthly payments over the 20 years.) What is the effective annual interest rate you are paying? [a.bcde%] Make sure you round correctly! What is the nominal annual interest rate the bank would have quoted you? [a.bc%] What is your monthly payment towards the bank (including the admin fee)? [Rabcd.de] What is percentage of the bond repayment (excluding the admin fee) that goes towards capital repayment in the first month? [a.bc%]