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Tammy borrowed money from a bank and she is repaying the loan by making quarterly payments of R5576 at the end of every quarter, each payment includes interest and repayment of the principle. The loan will be paid off in 18 years and interest is calculated at a rate of 5.11% per year, compounded quarterly. How much interest did Tammy pay during year 3 of the loan? (Give your answer rounded to 2 decimal places. If you think the answer is R1012.3456, type in 1012.35)
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Tammy het geld geleen by 'n bank en hy betaal die lening af deur kwartjaarlikse paaiemente, wat rente en kapitaaldelging insluit, van R5576 te maak aan die einde van elke kwartjaar. Die lening sal afbetaal wees na 18 jaar en rente word bereken teen 'n koers van 5.11% per jaar, kwartjaarliks saamgestel. Hoeveel rente is in totaal deur Tammy betaal in jaar 3 van die lening? (Gee jou antwoord afgerond tot 2 desimale syfers. As jy dink die antwoord is R1012.3456, tik in 1012.35)
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