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a) A car dealer in Jakarta offers a car for sale by immediate down-payment of IDR 200,000 and thereafter monthly instalments of IDR 16,200 for
a) A car dealer in Jakarta offers a car for sale by immediate down-payment of IDR 200,000 and thereafter monthly instalments of IDR 16,200 for 5 years. If the interest rate is 10.5% compounded monthly, what is the current price of the car? (10 marks) b) If a principal amount of USD 4000 is invested for 10 years, compounded annually, and the final amount at the end of the period is USD 4500 , calculate the annual rate of interest. (10 marks)
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