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You wish to purchase a house to the value of R1 800 000. BB Bank will provide you with a 20-year mortgage bond at a

You wish to purchase a house to the value of R1 800 000. BB Bank will provide you with a 20-year mortgage bond at a nominal interest rate of 6.5% per annum. Bond repayments are monthly in arrears. What is the total interest that you will pay in the first two years?

a. R228 288.58

b. R115 663.88

c. R279 280.55

d. R93 799.01

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