3.4 ND bought a bank financed car and decided to quickly repay the loan to reduce the loan interest. Over and above the monthly instalment of R6200, she paid R65 000 at the end of the first month, R90 000 at the end of the second month and 10 additional payments of R5000 at the end of each month thereafter. If the interest rate is 1% per month, calculate the present value of ND's proposed payment schedule during that 1 -year period and illustrate a cash flow diagram for this payment. (5) [Subtotal =20 Marks]