Mrs. Rolle purchases a car which costs $10,000. She pays a deposit of $2,000. She borrowes the rest from the bank at a simple interest rate of 12% per annum for three years.
a) I. How much money does she burrow from the bank?
II. Calculate the simple interest on the Principal.
b) How much does she repay the bank altogether?
c) She makes equal monthly payments of $300 except for the final month. How much is her final payment?
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