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Mandy and Andy are about to get married, but they want to buy their own house - NSC Mathematical Literacy - Question 1 - 2016 - Paper 2
Question 1
Mandy and Andy are about to get married, but they want to buy their own house. They are interested in buying the house shown below. The price of the house is R 0,98 ... show full transcript
Worked Solution & Example Answer:Mandy and Andy are about to get married, but they want to buy their own house - NSC Mathematical Literacy - Question 1 - 2016 - Paper 2
Step 1
Step 2
Mandy and Andy are going to apply for a home loan of 110% to cover for the home loan and all other additional cost. Calculate how much money they will borrow from the bank.
Answer
To calculate the total loan amount:
- The price of the house: R 0,98 million
- Additional costs (10% for other expenses): R 0,98 million × 0.1 = R 0,098 million
Therefore, the total amount to be borrowed is:
Step 3
Why do you think that this couple see this house as an ideal place to buy?
Answer
This couple might consider this house as an ideal place to buy because of its numerous features: a large kitchen, spacious living areas, multiple bathrooms, and additional facilities like laundry and garage spaces. Furthermore, its proximity to essential services such as a hospital, school, and shopping complex adds to its appeal, making it convenient for their future family needs.