Question

QUESTION (12 marks)

Murni bought a car with a 10% down payment. She was charged a 2.4% interest based on original balance. If she has to pay RM 620 per month for five years, determine;

a) the cash price of the car
b) the interest charged on her
c) the amount of outstanding balance just after the thirtieth payment using the Rule of 78.

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Answer 1

Answer:

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Murni bought a car with a 10% down payment. She was charged a 2.4% interest based on original balance. If she has to pay RM 620 per month for five years, determine;

a) the cash price of the car

b) the interest charged on her

c) the amount of outstanding balance just after the thirtieth payment using the Rule of 78.