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An entrepreneur took out a commercial loan of R360000 to find the set up of his new cafe. The bank is charging him 10.25% simple interest each year and the entrepreneur has 5 years to pay off the loan. He wants to work on his medium term budget, but he is not familiar with interest calculations, so he has asked you to help him.

1.1. Calculate the entrepreneurs monthly interest. Show all your calculations. 16marks
1. 2 calculate the entrepreneurs total monthly repayments. Show all your calculations. 9marks.

Sagot :

Sophie3479idn

Answer:

entrepreneur took out a commercial loan of R360000 to find the set up of his new cafe. The bank is charging him 10.25% simple interest each year and the entrepreneur has 5 years to pay off the loan. He wants to work on his medium term budget, but he is not familiar with interest calculations, so he has asked you to help him.

1.1. Calculate the entrepreneurs monthly interest. Show all your calculations. 16marks

1. 2 calculate the entrepreneurs total monthly repayments. Show all your calculations. 9marks

Leonbirdkingidn

Answer:

fallow me and brainliast

View image Leonbirdking
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