A company bought a motor valued at 25,000 on an easy instalment plan, as follows: 20% cash on delivery of the motor and the balance to be paid in 24 monthly instalments with 12% nominal interest on the unpaid balance. (a) How much would the company pay each month? (b) If instead of the terms above, the company decided to start a sinking fund to enable it to purchase the same motor after 2 years on cash basis, at the same value less 10% discount for cash purchase, how much would the monthly deposit in the fund be, if the money will earn interest at 6%? Assume that payment in the sinking fund is done in the beginning of each month.