Question 5 5.1. Lerato has finally decided to buy an apartment. She takes out a loan of R 500 000 from the bank and plans to repay the loan in monthly instalments over a period of 20 years. The interest rate charged is 9% p.a. compounded monthly. 5.1.1. Calculate her monthly repayments. 5.1.2. What is the total amount she will have paid for the apartment after 20 years? 5.1.3. After 15 years, Lerato wins the lotto and decides to clear the account. What will the outstanding balance on the loan be? (3)