14. Gabriel buys a van that costs R 840 000. He pays a 20% deposit and takes a loan to repay the
remainder. The terms of the loan are as follows:
Interest rate: 12% per annum compounded monthly.
Duration: 7 years.
What is Gabriel's monthly instalments to pay off the loan?
A. R 10 843.77
B.R 14 840.98
C.R 11 862.64
D. R 12 376.92
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