SUMMATIVE ASSESSMENT-2021 SECOND SEMESTER ENT100 ENTREPRENEURSHIP Question 5 [22] Read the case study below and answer the questions that follow. CASE STUDY Martin's Loan Martin took out a commercial loan of R 360 000 to fund his new caf. The bank is charging 10.25 per cent simple interest each year, and Martin has five years to pay off the loan. He wants to calculate his medium-term budget, but he is not familiar with interest calculations so he has asked you to help him. Source: Ward, B., Anderson, W., Le Roux, C., Alberts, E., De Beer, M., Ellis, N. K. & Maritz, J. (2020). A guide to entrepreneurship. 3rd ed. Cape Town: EDGE Education. 5.1 Calculate Martin's monthly interest. (Show all calculations.) Calculate Martin's total monthly repayments. (Show all calculations.) 5.2 (14) (8) SUMMATIVE ASSESSMENT-2021 SECOND SEMESTER ENT100 ENTREPRENEURSHIP Question 5 [22] Read the case study below and answer the questions that follow. CASE STUDY Martin's Loan Martin took out a commercial loan of R 360 000 to fund his new caf. The bank is charging 10.25 per cent simple interest each year, and Martin has five years to pay off the loan. He wants to calculate his medium-term budget, but he is not familiar with interest calculations so he has asked you to help him. Source: Ward, B., Anderson, W., Le Roux, C., Alberts, E., De Beer, M., Ellis, N. K. & Maritz, J. (2020). A guide to entrepreneurship. 3rd ed. Cape Town: EDGE Education. 5.1 Calculate Martin's monthly interest. (Show all calculations.) Calculate Martin's total monthly repayments. (Show all calculations.) 5.2 (14) (8)