A company is taking out a loan of 60,000 from a bank in order to upgrade their production machines. If the company is charged 8% on loans annually and wishes to pay the loan in 3 equal annual payments starting in a year's time, what annual payment must be made? Note: FV PV (t) = (1+i) [10 Marks] Q 1(b) With the aid of a sketch and an example, explain what would happen if a CONWIP system was organised as a fully pull-type system without a backlog scheduling system.