1
4 points
A loan, granted now at 11,5% p.a. simple interest, is
to be repaid by an amount of R1387,21 seven
months from now.
i) The value of the loan granted now, rounded
to the nearest cent is equal to R
type your answer...
ii) If the loan is repaid five months from now
then the amount required to repay the loan,
rounded to the nearest cent, is equal to R
type your answer...