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Van Dyke has just purchased a brand-new motor vehicle to the value of R1 500 000 after winning the English Premier League (EPL) for Liverpool.

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Van Dyke has just purchased a brand-new motor vehicle to the value of R1 500 000 after winning the English Premier League (EPL) for Liverpool. Van Dyke obtained 100% financing for the vehicle over five years at an interest rate of 8% p.a., compounded monthly, with monthly instalments made at the end of every month. REQUIRED: Calculate the monthly instalments that Van Dyke will have to pay using the table below. (3) Complete the table below as follows, do not use symbols for currency, units or months (R, months, units), where percentages are required enter to two decimal places using a decimal point (example 15.55%or 7.00%) where figures are required enter the figure to two decimal places using a decimal point if required (example R42000 is entered as 42 000 and R 42155.65 is entered as 42 155.65) P/Y N I/YR PV PMT

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