QUESTION $1$

$1.$ Debbie wants to buy a new car. The bank is prepared to give her a loan on the basis that she pays a $30\%$ deposit, a residual value of R $200000\mathrm{.}00$ and finances the balance with a loan. The loan is for a period of five $(5)$ years. The full purchase price of the car is R $800000\mathrm{.}00.$ The instalments on the loan are payable at the end of every month. The interest rate is $13\mathrm{.}5\%$ per annum. Calculate what the amount of Debbie$$s monthly instalments on the loan will be$.$

R $12742\mathrm{.}16$

R $10416\mathrm{.}36$

R $10533\mathrm{.}55$

R $12885\mathrm{.}51$

None of the above