Study the scenario below and answer the following questions Andile and Milner own AM BUDDIES, an outlet selling used cars. At the beginning of the financial year (1 January 2022), Andile and Milner contributed capital of R660 000 and R400 000 respectively. Each partner will receive 8% interest per annum on their capital balances at the end of the financial year. Partners share any profit or losses in relation to their capital contributions at the beginning of the financial year. On 30 June 2022, Milner injected a further R40 000 in a form of machine to strengthen his capital. Question 1. Calculate the Interest on capital each partner will receive at the end of the financial year on 31 December 2022. Question 2. Calculate the percentage profit or loss that each partner will be entitle to from 1 January 2023. Show ALL calculations to earn part/bonus marks.
