Question: Question 6 [22] CASE STUDY: Martin's Loan Read the case study below and answer the questions Martin took out a commercial loan of R360 000

Question 6 [22] CASE STUDY: Martin's Loan Read

Question 6 [22] CASE STUDY: Martin's Loan Read the case study below and answer the questions Martin took out a commercial loan of R360 000 to fund his new caf. The bank charges 10.25% simple interest each year, and Martin has five years to pay off the loan. He wants to calculate his medium-term budget, but he is not familiar with interest calculations so he has asked you to help him. 6.1 Calculate Martin's monthly interest. (Show all calculations) (14) Calculate Martin's total monthly repayments. (Show all calculations) (8) 6.2

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