A merchant owes a bank R21465 on which he pays 19% interest p.a., compounded monthly. He will repay the debt by making a payment at the end of every month over 8 years. The first payment is RP and every subsequent payment increases by 2%. What is the value of his first payment, P? (Give your answer rounded to 2 decimal places. If you think the answer is R1012.3456, type in 1012.35)

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'n Winkelier skuld ʼn bank R21465 waarop hy rente teen 19% p.j., maandeliks saamgestel moet betaal. Hy gaan die skuld aflos deur vir 8 jaar lank aan die einde van elke maand 'n paaiement te betaal. Die eerste paaiement is RP en elke verdere paaiement word verhoog met 2%. Wat is die grootte wat sy eerste paaiement, P? (Gee jou antwoord afgerond tot en met 2 desimale syfers. As jy dink die antwoord is R1012.3456, tik in 1012.35)