Question: QUESTION 2 [ 6 ] Koko s business, Supreme Cleaning, is growing very fast. She has just negotiated a 5 - year contract with Lights

QUESTION 2[6] Kokos business, Supreme Cleaning, is growing very fast. She has just negotiated a 5-year contract with Lights, Camera, Action!, one of South Africas largest movie houses, to provide her services within Gauteng. As such, she has decided to expand het fleet of bakkies needed to transport her staff and equipment. Koko approached Superb Nissan in the North. She has determined that she would have to purchase ten (10) Nissan NP200(1.68V BASE) models to fulfil her booming business needs. Koko received a quote of R 139,900.00 per bakkie (discounted from R149,900 due to her large order). As Supreme Cleaning banks with Pinnacle Industrial Bank, Koko receives a preferential interest rate of 9%, compounded monthly, should she take up financing. Instalments are payable at the end of each month. The following additional costs are also involved in purchasing one (1) vehicle: Finance Admin Fee @ R1,100.00 Extended Warranty @ R3,500.00 Licencing and Registration Fee @ R2,500.00 Canopy @ R3,000.00 Pinnacle Industrial Bank will allow Supreme Cleaning to purchase all ten (10) vehicles through a single annuity. 2.1 What is the total purchase amount which Superb Nissan requires for all ten (10) bakkies, including additional costs? [1] FINAL ANSWER 2.2 Pinnacle Industrial Bank requires a 10% deposit on the total purchase price as determined in 2.1 above. Supreme Cleaning will be paying this deposit from their savings. How much is this deposit? [1] FINAL ANSWER 2.3 If Supreme Cleaning will be financing this purchase as a single annuity over 6 years, calculate the total monthly instalment to purchase this fleet of bakkies. [Round your answer to two (2) decimal places][2] FINAL ANSWER MT1BCP1: Assignment 3.1 Page 4 of 42.4 How much interest, in total, will Supreme Cleaning be paying on their 6-year fleet loan? [Using the rounded result from 2.3 above and also round your final answer to two (2) decimal places.][2]

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