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b. Mike is renovating his house and plan to have new kitchen cabinets. He purchased the cabinets costing RM 12,000 through an installment plan. He

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b. Mike is renovating his house and plan to have new kitchen cabinets. He purchased the cabinets costing RM 12,000 through an installment plan. He has to pay 10% down payment and 18 monthly payment of RM 650 each. Find the i total interest charged. i. flat rate (simple interest rate charged (to 2 dp). approximate actual annual percentage (APR) using the constant ratio method (to 2 dp)

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