Summa Laude $($Pty$)$ Ltd $($Summa Laude$)$ is an entity that owns various properties

that the entity rents out as student accommodation.

Summa Laude has identified a property $($hereafter referred to as $$Property $26)$ that,

after thorough market research on the quantity and accommodation specification of

student accommodation demand in the area, has been concluded to have a high

probability of being a profitable investment. Property $26$ can be purchased at a price

of R$1637000.$

Summa Laude currently only has R$250000$ cash at hand to allocate to the Property

$26$ purchase, according to the entity$$s cash flow budget. The entity intends to allocate

the R$250000$ to the purchase, and have also entered negotiations with Fluxul$-$DeNumerar Bank for the remaining finance required.

Fluxul$-$De$-$Numerar Bank has indicated that the bank is willing to provide the loan to

Summa Laude. The loan will have a $10\mathrm{.}9\%$ monthly compounding interest rate and a

$3-$year period attached to it$.$ Repayment must occur in equal annual instalments.

REQUIRED:

Assist Summa Laude $($Pty$)$ Ltd by drafting the loan amortisation schedule Round to two decimals where applicable.

Show all calculations.

SHOW ALL THE MANUAL MATHEMATICAL CALCULATIONS FOR ALL OF THE

INTERESTS, PRINCIPLES AND BALANCES.