The original quarterly repayment amount using the formula for a fixed installment loan:

- Original loan amount (P) = N$1,500,000
- Interest rate per year (r) = 8% = 0.08
- Interest rate per quarter (i) = 8% / 4 = 0.08 / 4 = 0.02

**By how much will the quarterly repayments of Mr Vries be reduced?**

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The original quarterly repayment amount using the formula for a fixed installment loan: Original loan amount (P) = N$1,500,000 Interest rate per year (r) = 8% = 0.08 Interest rate per quarter (i) = 8% / 4 = 0.08 / 4 = 0.02 By how much will the quarterly repayments of Mr Vries be reduced?

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