maths question on compound intrest?

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maths question on compound intrest?

1) Megan takes out a 20 year loan for R104000 at a 14.6% per anum intrest rate compounded monthly. If she sells the house after 13 years, how much will she we on the home loan?

2) Johan has a house loan from a bank which charges him 10% intrest per anum compounded monthly. his loan is for 18 years and his monthly payments are the minimum which the bank requires. After how many payments will he reduce his outstanding debt to less than half his original amount?

2007-03-08 08:16:18 · 1 answers · asked by Anonymous in Education & Reference ➔ Higher Education (University +)

1 answers

I don't see how much the payments are...
in both problems.
i hear there are web sites that calculate loans

2007-03-09 12:15:04 · answer #1 · answered by Danny 3 · 0⤊ 0⤋