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b) Mr Azam just bought a new car for his son as a gift for his son's graduation. The price of the car is RM

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b) Mr Azam just bought a new car for his son as a gift for his son's graduation. The price of the car is RM 55000 . He paid 10% deposit and took seven years loan with 3.4% annual interest rate. Calculate the amount of the instalment Mr Azam needs to pay for his son's car every year and the total accumulated amount of interest at the end of year seven. (6 marks) c) En Imran is currently paying education insurance for his two children since they were born. Payments are made at the beginning of each month. RM200 for his son aged 14 years old and RM150 for his daughter aged 12 years old. These education schemes have dividend of 4% annually until the child reach 18 years old. Calculate the total sum assured after both children reach 18 years old. (5 marks) d) Aimi took out a RM200,000, 25-year mortgage with an annual interest rate of 8%. She pays RM1 800 per month for this mortgage loan. Aimi has made 15 years' worth of payments. How much does Aimi still owe on her mortgage? (4 marks)

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