A person takes out a loan to purchase a R 750 000 vehicle. The lending institution charges interest at a rate of 12.5% p.a. (csa). The loan will be repaid by making 36 semi-annual payments starting exactly 3 semi-annums after the loan is granted. Calculate the value of the semi-annual repayment. Answer the question by completing the answer boxes below. N for the compound interest calculation: Present value of the annuity calculation (round your answer to 2 decimal places): R Value of the semi-annual payment (round your answer to 2 decimal places): R
A person takes out a loan to purchase a R 750 000 vehicle. The lending institution charges interest at a rate of 12.5% p.a. (csa). The loan will be repaid by making 36 semi-annual payments starting exactly 3 semi-annums after the loan is granted. Calculate the value of the semi-annual repayment. Answer the question by completing the answer boxes below. N for the compound interest calculation: Present value of the annuity calculation (round your answer to 2 decimal places): R Value of the semi-annual payment (round your answer to 2 decimal places): R
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
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