1) A house costing RM120,000 cash is purchased by making a down payment of

RM40,000 and the balance is to be settled by making 120 monthly payments at 6%

compounded monthly.

(a) Find this monthly payment.

(b) If the buyer intends to settle all of the loan by making a single payment

immediately after seven years, find this single payment.

2)At what interest rate will money treble if compounded continuously for 18 years?