Your brother has come to you asking to borrow R20 000, so he can put a deposit down on a motorcar that he wants to buy. If the motorcar costs R200 000 how much would he have to pay a month if the finance company will only give him an interest rate of 14% per annum if he pays off the vehicle over a period of 12 months. Assume for the purpose of this example that simple interest is used. Use the correct formula.