ANSWER ALL QUESTIONS. PLEASE PROVIDE WORKINGS TO YOUR SOLUTIONS.

You have just graduated and need money to buy a new car. Your rich Uncle Chanwill lend you the money so long as you agree to him back within four years, and youoffer topay him the rate of interest that he would otherwise get by putting his moneyinasavings account. Based on your earnings and living expenses, you think you will beableto pay him RM5,000 in one year, and then RM8,000 each year for the next threeyears. If Uncle Chan would otherwise earn 6% per year on his savings, howmuchcanyouborrow from him?