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  3. 1) angeline bought an rm8,000 hi-fi set through an

1) Angeline bought an RM8,000 hi-fi set through an instalment plan. She has to pay RM4,000...

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Advance Math

1) Angeline bought an RM8,000 hi-fi set through an instalmentplan. She has to pay RM4,000 down payment and 10 monthly paymentsof RM450 each. By using the Constant Ratio formula, find:
a) The total interest charged.
b) The instalment price.
c) The simple interest rate charged.
d) The approximate effective rate.
2) A loan of RM5,000 for 20 months at 10% per annum simpleinterest rate was settled by making 20 monthly payments. Find theoutstanding principal just after the eighth payment by using theRule of 78.

Answer & Explanation Solved by verified expert
3.7 Ratings (448 Votes)
the cost for which angeline bought hifi set 8000 rmthe amount is paid as down payment 4000 rmthereforethe original balance due cost    See Answer
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