Mr. Ali purchased a house at a price of RM220,000. He paid 10% of the price of the house as a down payment. He borrowed from a bank to settle the balance. He agreed to pay the loan by making monthly installments for 20 years at the rate of 3% compounded monthly. a) Find the effective rate charged by the bank. b) Determine his monthly payment. c) What will be the total interest paid by Mr. Ali? d) What will be the total amount paid by Mr. Ali for the house? e) If he missed the first four month payments, how much has he to pay on his fifth payment to settle all outstanding arrears?