Posted by irvin spies on Friday, April 8, 2016 at 4:18am.
still part of the same Q,
After 8 years the interest rate drops to 18percent p.a,compounded monthly and the present value of the loan is R128 951.39. What will his new monthly payments be?

elementary quantitative methos  Reiny, Friday, April 8, 2016 at 7:08am
This is just finding the P of a PV.
Same formula, same story.