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A Rolex watch which is listed at RM1,800 cash can be purchased on an instalment basis by making a 20% down payment. The balance has
A Rolex watch which is listed at RM1,800 cash can be purchased on an instalment basis by making a 20% down payment. The balance has to be repaid through 18 monthly payments. The buyer has four options to repay the balance. a. Find the instalment price for each option. b. Calculate the monthly instalment for each option. c. Calculate the effective rate for Option (iv)
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