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b) A fifteen years RM100,000 loan has an annual effective interest rate of 3% for the first three years and 6% for the remainder of the loan term. The payment of the loan will increase by 10% each year. Find the balance on the loan immediately after the fifth payment. (15 marks) QUESTION 4 a) A RM1,000 bond with a coupon rate of 8% has quarterly coupons and is redeemable after an unspecified number of years at RM957. The bond is bought to yield 12% convertible semiannually. If the present value of the redemption amount is RM355.40, find the purchase price of the bond. (5 marks) b) A twelve-year RM2,000 8% par-value bond with quarterly coupons is bought for RM2,200. Find the effective yield rate per coupon period and the annual effective yield rate. (10 marks) b) A fifteen years RM100,000 loan has an annual effective interest rate of 3% for the first three years and 6% for the remainder of the loan term. The payment of the loan will increase by 10% each year. Find the balance on the loan immediately after the fifth payment. (15 marks) QUESTION 4 a) A RM1,000 bond with a coupon rate of 8% has quarterly coupons and is redeemable after an unspecified number of years at RM957. The bond is bought to yield 12% convertible semiannually. If the present value of the redemption amount is RM355.40, find the purchase price of the bond. (5 marks) b) A twelve-year RM2,000 8% par-value bond with quarterly coupons is bought for RM2,200. Find the effective yield rate per coupon period and the annual effective yield rate. (10 marks)