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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 follow:
Interest rate: 12% per annum compounded monthly.
Duration: 7 years.
What is Gabriel's monthly instalments to pay off the loan?
A. 10 843.77
B. 14840.98
C. R 11862.64
D. R 12376.92



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