a. Ms. Fui Pin is planning to buy a new car 7 years from now. For this purpose, she will deposit RM10,500 at the beginning of each year for the first 4 years in the savings account of a commercial bank. Her investment in the savings account will earn a return of 9% compounded annually. How much will Ms. Fui Pin have after 7 years to buy the car? (5 marks)

b. Mr. Iman borrowed RM15,000 at 14 percent annual rate of interest to be repaid over three years. The loan is amortized by three equal annual end-of-year payments.

i. Calculate the annual end-of-year loan payment. (1 mark)

ii. Prepare a loan amortization schedule, showing the interest and principal breakdown of each of the three loan payments. (4 marks)