Assume the following in case:

Mrs Chen wants to purchase a new Mercedes vehicle by opting a finance facility from Ambank Islamic. Maybank Islamic has offer Mrs Chen an Islamic Loan under BBA which the financing amount is about RM120,000, profit rate is 4%, and the financing period is about 9 years. (Please show your calculation methods).

1. Calculate the total amount payable and the monthly installment that Mrs Chen has to pay to the bank.

2. If the bank has decided to reduced the financing amount to 90% from the original financing amount, followed by the financing amount period reduced to 7 years plus the rate of profit has also been reduced about 1% from its original profit rate. Calculate the new total amount payable and the new monthly installment.

PLZ NO HANDWRITING !!!!!