Mathematics, 18.05.2021 18:00 mia36492

1.2.3 Pule applied for a loan for the amount of R210 050 to complete his building project. He approached 2 loan institutions.
Institution A: The interest of the loan is charged at 10% per annum compounded
half-yearly.
Institution B: The interest of the loan is 8% per annum compounded quarterly.
Pule wants to repay the loan within a year. Abbey advised Pule to take a loan from
Institution B, as the amount he has to repay will be lower than the repayment
amount of Institution A. Do you agree with the advice from Abbey? Use
calculations to support your opinion.

Answers: 3

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1.2.3 Pule applied for a loan for the amount of R210 050 to complete his building project. He appro...

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