A property owner plans the refurbishment of a building at a cost of R2 500 000 in 5 years' time. What amount will he have to invest per year at 12% per annum to cover this cost after 5 years if the investments are made- (a) at the end; and 393 524:32 (b) at the beginning of each year? 351 361 Calculate the monthly investment to set up the sinking fund of R2 500 000 in example 7 over 5 years at 12% per annum if investments are made- (a) at the end; and 30 62 (b) at the beginning of each month. 30 302 9. A company rented office space in a building in terms of a 15 year lease at a rental of R28 000 per month, payable in advance. The market rental for similar office space is R45 000 per month, payable in advance. The building and the lease were expropriated for a major road scheme when the unexpired terms of the lease was 5 years. Calculate the company's actual financial Toss in respect of the rental at a discount rate of 15% per annum. 723 S20