Question
a) The cash price of a refrigerator is RM8,150. It can be purchased by monthly instalments and a down payment of RM200. The payment
a) The cash price of a refrigerator is RM8,150. It can be purchased by monthly instalments and a down payment of RM200. The payment is to be paid in 2 years and the interest charged is 3.5% on reducing balance. Calculate i) the amount of interest charged. ii) the monthly payment. iii) (4 marks) (3 marks) the outstanding balance if a buyer wishes to settle the debt immediately after the 18th payment by using the Rule of 78. Activate W(5 marks)
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Answer Explanation i First given that the cash price of the refrigerator is RM 8150 and the down pay...Get Instant Access to Expert-Tailored Solutions
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
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