A loan of R1 000000 is expected to be secured on 01 November 2022 for a project. Monthly repayments (excluding interest), payable on the last day of each month (commencing 30 November 2022), amount to R10 000. If interest is charged at a rate of12%per annum and is also payable at the end of each month, how much interest is payable for December 2022? 

A. R118 800 

B. R9 900 

C. R120000 

D. R10000

Answer rating: 100% (QA)

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