Question $6[8$ marks$]$

Walter takes out a loan of $$2000$ to buy a new computer. The terms of the loan are

that Walter will pay equal monthly installments. Interest is calculated monthly

and is charged at $6\%$ p$.$a$.$ The loan is to be repaid in $2$ years.

$($a$).$ Calculate the amount Walter has to pay each month if the first repayment

is made on month after the money is borrowed and after interest is calculated. $[5]$

$($b$).$ How much does Walter actually pay for the computer.