7 Ahmad takes a loan of RM40,000 at 6.5% compounded monthly and has to pay equal monthly payments for three years. Calculate: (a) the monthly payment (b) the total interest. [Modified exam question] 8 RM150 is invested at the end of every month for 40 months in an account that pays 5% interest compounded monthly. After 40 months, no more payments are made. Find the amount in the account at the end of 50 months. 9 Mustafa deposits RMR every month into an account that gives an interest of 8% compounded monthly for two years. Immediately after two years. he withdraws all the money amounting to RM40,000 from the account Find the monthly deposit R. [Modified exam question] 10 Indahsah saves RM200 at the end of each month into an account that gives an interest of 12% compotmded monthly for 10 years. (a) Find the amount saved in the account at the end of 10 years. (b) At the end of 10 years; she made monthly withdrawals for the next 5 years. How much was the monthly withdrawal? [Modified exam question] 11 Find the total interest earned if RM900 is deposited every three months for five years at an interest rate of 6% compounded quarterly. 12 The cash price of a bus is RM120,000. MMM company buys the bus through an instalment plan of seven years and the interest rate charged is 8% compounded monthly. (a) Find the monthly payment. (b) After paying for 12 months, the company decides to settle the outstanding balance. Find the amount the company has to pay on the thirteenth payment and the total interest charged. [Modified exam question] 13 Megat intends to buy an annuity scheme that offers an interest rate of 6% compounded monthly. He expects to receive RM 500 every month for the next five years starting a month from the date of purchase. How much would Mcgat have to pay for the scheme? 14 Find the amount to be invested quarterty, at 10% compounded every three months, to accumulate RM60,000 in three years. 15 A loan of RM 12,000 is to be settled by making monthly payments for four years. If the interest rate is 9% compounded monthly, calculate the monthly payment. 16 A retailer buys 100 pairs of shoes at RM25 per pair. He wants to have 15% net profit based on cost. The operating expenses are 8% based on cost. Find the selling price of each pair of shoes and the total gross profit for the 100 pairs of shoes