Question 3 [23] Read the following and then answer the questions below. Sarah Mason took out a five-year loan for R800 000-00 (eight hundred thousand rand) at an interest rate of 12.5% per annum. Her monthly instalment was calculated at R17 998-35. Assume the interest rate did not change over the five-year term of this loan. (Note: Show all your calculations) 3.1 How much did Sarah pay out in total instalments over the five-year term of her loan? (7) 3.2 With reference to question 3.1 above, which portion of this total amount was the interest paid and which portion was capital redemption (in Rand value)? (8) Page 5 of Assignment FRULLATO SBS STADIO Schom Bandse Scho SUMMATIVE ASSESSMENT (ASSIGNMENT) - 2020 SECOND SEMESTER ENT100 ENTREPRENEURSHIP 3.3 Sarah also had a savings account at the bank paying an interest at 10% per annum. She paid R1 000-00 per month into a savings account. A financial adviser recommended that Sarah close the savings account and rather pay the R1 000-00 per month as an additional repayment on her loan plan. She never took his advice. Do you think it was wise of Sarah to ignore his advice? Motivate your answer. (8)