You bought a car for R 250 000. The finance company requires a 20% deposit. Repayment of the remainder of the amount is over 60 months at an annual interest rate of 24% compounded monthly. Required: a) What is your monthly repayment? R b) If your payment is R 4 000 per month, what will the balance outstanding be at the end of the first 24 months? R c) If the loan has a residual value of 30% of the original purchase price, what would the monthly payment be? R d) The finance company gives you an option to suspend payments for the first 5 months. What would your new repayment be? R e) If the interest rate changed after 36 months to 18% per annum compound monthly. What would the new payment be for the last 24 months? R