The Capital portion of the loan that will be paid in the next financial year will increase by R15 000.

Step 1: Set up the equation based on the loan statement. The balance on 01 March 2024, plus the interest for the year, minus the repayments, should equal the balance on 28 February 2025. Let x be the interest for the year. 380\,000 + x - 78\,000 = 330\,000 Step 2: Simplify the equation. Combine the known values on the left side. 302\,000 + x = 330\,000 Step 3: Solve for x. Subtract 302\,000 from both sides of the equation. x = 330\,000 - 302\,000 x = 28\,000 The interest for the year is R28 000. The interest for the year is: R28\,000 Send me the next one 📸