Posted by **irvin spies** on Friday, April 8, 2016 at 4:09am.

andrew bought a flat of R240000,he made a down payment of R100000 and obtained a 20 year mortgage bond for the balance at an interest rate of 19,5 percent per annum,compounded monthly,what is his montly payment?

- elementary quantitative methos -
**Reiny**, Friday, April 8, 2016 at 7:00am
subtract 100,000 from 240,000, that is your PV

i = .195/12 =

n = 240

P = ?

straight formula application

( I got 3817.23 )

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