Suppose your business intends to purchase a vehicle entirely via a $5-$year bank loan at $12\%$

interest compounded monthly. Suppose the vehicle costs R$300000$ and your business is not

making any advance deposit.

$3\mathrm{.}1\mathrm{.}1.$ Calculate your business$$s monthly vehicle instalment and leave your answer rounded

off to the nearest one rand. $(4)$

$3\mathrm{.}1\mathrm{.}2.$ Draw up a loan amortization schedule for the loan repayment. Round off your

answers to the nearest one rand $(10)$

$3\mathrm{.}2.$ Suppose you would like to borrow R$22,500$ as a personal loan from a bank on the lowest

possible cost available and assume that there are only three available sources of the loan

$($banks$)$ which can lend to you at the following lending rates: