Question
inani bought a refrigerator costing RM5,690 by making 30 monthly payments. Interest was charged at 12% per annum on the reducing balance. (i)Calculate the total
inani bought a refrigerator costing RM5,690 by making 30 monthly payments. Interest was charged at 12% per annum on the reducing balance.
(i)Calculate the total interest charged.
(ii)Find the monthly payment.
(iii)Find the outstanding balance just after the 11th payment using the Rule of 78
(15 marks)
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Business Intelligence A Managerial Perspective on Analytics
Authors: Ramesh Sharda, Dursun Delen, Efraim Turban
3rd edition
133051056, 978-0133051056
