means saves for 15 years at 6% with 2,500$ yearly, gap two year no deposits or checkouts, year 3 to 5he withdrew 8000$/ year with his 6% still applied, year 6-9 he withdrew 10,000$/ year with the remainder still at 6% until year 10

QUESTION 3 (10 Marks) Ali borrowed RM 25,000 to be repaid in monthly instalments over the next five years. The interest rate he is being charged is 12% per year compounded monthly. What is his monthly payment? (5 Marks) (b) Ahmad has saved end-of-year (EOY) RM 2,500 each year for 15 years. Two year after the saving period ended, Ahmad withdrew RM 8,000 each year for a period of 4 years. In the sixth, seventh, eighth and ninth years, he only withdrew RM 10,000 per year. In the tenth year, he decided to withdraw the remaining money in his account. If the interest rate was 6% per year throughout the whole period, what was the amount he withdrew at the end of the tenth year