OPTION 1: 24 months Months Admin fee Admin fee 69,00 69,00 (by month) Balloon (by month) Balloon 51 408,00 installment installment Monthly installment Monthly 20 071,57 14 109,35 installment The vehicle's cash prize is R489 600 Determine the percentage of balloon installment payable at the end of the loan period of 1.1 the cash prize. .