QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on the basis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balance with a loan. The loan is for a period of five (5) years. The full purchase price of the car is R 300 000.00. The instalments on the loan are payable at the end of every month. The interest ate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on the oan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above
QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on the basis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balance with a loan. The loan is for a period of five (5) years. The full purchase price of the car is R 300 000.00. The instalments on the loan are payable at the end of every month. The interest ate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on the oan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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![QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on the
basis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balance
with a loan. The loan is for a period of five (5) years. The full purchase price of the car is R
800 000.00. The instalments on the loan are payable at the end of every month. The interest
rate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on the
loan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdb1cccaf-eb10-4f9f-8a58-95f05c4e054d%2F0d4689f2-ffe1-4e40-8c21-b290560ca1e8%2Fwrlegpv_processed.png&w=3840&q=75)
Transcribed Image Text:QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on the
basis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balance
with a loan. The loan is for a period of five (5) years. The full purchase price of the car is R
800 000.00. The instalments on the loan are payable at the end of every month. The interest
rate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on the
loan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above
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