Jay intends to open a small material shop and borrows the money for it from his Uncle Jossop.
Jay feels that he will only be able to start repaying his debt after three years. Jay will then pay Uncle Jossop R105 000 per year for five years. Money is worth 19,5% per year.
The amount of money that uncle Jossop originally lent Jay equals
a. R98 346,23.
b. R130 288,26.
C. R186 054,89.
d. R184 589,43.