The acquisition of construction plant will require the purchase of a new building for temporary storage of plant, as well as maintenance of plant. The purchase will be funded through a loan. Loan details are as follows. Cost of the building: R2,780,000 Deposit required by the banks: 15% Loan term: 20 years Frequency of repayments: monthly Payment start date (estimated): 01/08/2022 Rate offers from various banks have been received as follows: ADSA Bank Interest rate: 8,75% for the 1st 4 years, 9,25% for the following 6 years and 7,6% for the remainder of the loan term. The acquisition of construction plant will require the purchase of a new building for temporary storage of plant, as well as maintenance of plant. The purchase will be funded through a loan. Loan details are as follows. Cost of the building: R2,780,000 Deposit required by the banks: 15% Loan term: 20 years Frequency of repayments: monthly Payment start date (estimated): 01/08/2022 Rate offers from various banks have been received as follows: ADSA Bank Interest rate: 8,75% for the 1st 4 years, 9,25% for the following 6 years and 7,6% for the remainder of the loan term