e In 1 logu 2.1 QUESTION 2 (Home loans) Table 1 below is a loan factor table that shows the monthly repayments per R1 000 on a home loan with interest rates ranging from 9,75% to 11,25% per annum, over 15, 20, 25 or 30 years. Magda is planning on buying a house and she has a disposable income of R18 570 per month. The National Credit Act (NCA)stipulates that the home loan amount that a person qualifies for should be calculated based on the disposable income.
Table 1: Loan factor table for calculating monthly repayments on a home loan per R1 000
Interest % 9.75% 10.00% 10.25% 10.50% 10.75% 11.00% 11.25% 15 10.59 10.75 10.90 11.05 11.21 11.37 11.52 Years 20 9.49 9.65 9.82 9.98 10.15 10.32 10.49 25 8.91 9.09 9.26 9.44 9.62 9.80 9.98 30 8.59 8.78 8.96 9.15 9.33 9.52 9.71 [21)
. 2.1.2 Write down the loan factor that will be used in calculations, if Magda decides to pay her monthly repayments over a 25-year period at an interest rate of 10.75%. (2) (2)​