Bongeka purchased a new refrigerator and were expected to pay R1 684,00 five months ago and another R1 323,00 in eight months’ time. She could not make the payment five months ago, but after receiving a bonus at work, she rescheduled to repay the loan in two equal payments, the first due in two months and the second due in five months’ time. The payment at month five will settle the debt, therefore, the settlement date is month five. The debts and payments are subject to the same interest rate of 11,4% per annum, compounded monthly.