Home Loan Problems Set 9 Question 10
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Question 10
Alexzander is purchasing an one bedroom unit at a price of $170000. He has decided to go with a loan from the Provident Bank. Alexzander has saved up enough money to put down a 11 % deposit. Alexzander's mortage term is 20 years, and his interest rate is fixed at 4.6 %.
Your job is to work the amount of money Alexzander will have to pay to the Provident Bank every month.