Instructions to students: Section B 60 marks Answer ALL six (6) problem-solving questions. Where applicable, draw the timeline showing the known and unknown variables and show your workings. Partial credit will be given for workings. Answer the questions on one side of the A4 size paper only (Blank or with lines), one at a time. . All answers must be handwritten. Please use Black or Blue pen. - For Section B, write your Matric and Question number clearly at the Top Right-Hand Corner of the A4 size paper. Scan your answer scripts (including the MCQ answer sheet) and saved as a single PDF file. . SUBMIT your single PDF file to GOOGLE CLASSROOM. . Late submission will not be accepted and will not be graded. QUESTION 1: (10 marks) A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $2,000 per month for the next three years and then $1,000 per month for the two years after that. If the bank is charging customers at 8.5% per annum, with interest calculated on monthly reducing balance, determine the maximum amount the bank is willing to lend the business owner? N.B: Use 2-decimal places for all calculations. [Total: 10 marks]