2 A refrigerator which is listed at RM8,500 cash can be purchased on an instalment purchase by making a 10% down payment. The balance has to be repaid by 18 monthly payments. The buyer has four (4) options to repay the balance. Option Interest charged 1 RM625.04 2 8% per annum simple interest 3 12% per annum using Constant Ratio method 4 12% compounded monthly using annuity method Calculate (a) the instalment price for each/every option above, (13 marks) (CLO2:PLO2:C2)(CLO2:PLO7:C2) (b) the monthly instalment for the best option in part (a). Why? (4 marks) (CLO2:PLO2:C4)(CLO2:PLO2:C4)