5) Richard purchased a van listed at RM59,000 from Expert Finance Ltd through a hire purchase agreement in which he had to pay 10% down payment and 24 monthly instalments of RM2,620.75 each. After 10 months of payment defaults, the van was legally repossessed and sold for RM38,000. Find: a) The flat rate charged. b) The amount of refund that he would receive from the company or the amount of money he would have to pay