Tumi managed to find the house of his dreams, the price of the house was R549 000. He then
applied for a home loan at the bank because he did not have the entire amount. Tumi decided
to pay 11,5% deposit.
2.1
2.2
Calculate how much Tumi had to put down as a deposit for the house.
If Tumi uses the money he received from the bank at the end of his investment term,
will he have enough to pay for the deposit? Show by
means of calculations.
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