Your client Musi informs you that his friend Andile owes him an amount of R32500,00 (thirty-two thousand five hundred rand). They had agreed that the money would be repaid once Andile found employment, which he now has done. He further informs you that he has asked to repay the money owed, but that Andile has simply ignored his request. He asks for you help. You decide to send a letter of demand to Andile in the hope that he will respond - which he does. He comes to see you to say that he is unable to pay the money in a lump sum but is prepared to pay it in instalments of R2000,00 (two thousand rand per month). You inform your client of Andile's offer. Your client accepts the offer on condition that Andile signs an acknowledgment of debt and pays interest of 10% per annum on this amount until the full capital is paid.

Draft a simple acknowledgment of debt for Andile to sign which protects all your client's interests. (15)