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A loan is repayable by annual instalments paid in arrear for 20 years. The first instalment is RM4,650 and each subsequent instalment is RM150 greater

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A loan is repayable by annual instalments paid in arrear for 20 years. The first instalment is RM4,650 and each subsequent instalment is RM150 greater than the previous instalment. Calculate the following, using an interest rate of 9% per annum effective: (a) the amount of the original loan [13 markah] (b) the total interest paid over the whole 20 years [7 markah]

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