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2. Mr Harry just bought a new Proton Sagam that costs him RM58,000. He took a loan from ABC Finance company that requires Mr Harry
2. Mr Harry just bought a new Proton Sagam that costs him RM58,000. He took a loan from ABC Finance company that requires Mr Harry to pay 10% of the costs, as down payment. Determine the amount of Mr Harrys annual payment if the finance companys interest is 5%, and Mr Harry is planning to settle the entire amount of loan within 7 years.
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