3.3 Your business has just taken out a 1-year instalment loan for R72,500 at a nominal rate of 11.0% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal? a. 73.67% b. 77.55% c. 81.63% d. 85.93% e. 90.45% (2) 3.4 You wish to purchase an asset for R200 000. The finance company requires a 20% deposit. The financed portion is to be repaid, monthly, over 5 years at an annual interest rate of 24% compounded monthly 3.4.1 If payments are to be suspended for the 2nd year of the loan, and then trebled after that, determine the initial (first) payment to repay the loan in 5 years. (2) 3.4.2 If payments are set to grow by 1% a month from the 2nd month, what would your initial (first) payment be to repay the loan in 5 years