Question
Please answer all (show your calculation) 1. Hannah buys a water treatment system that costs RM5,800 on an instalment scheme. She has to settle the
Please answer all (show your calculation) 1. Hannah buys a water treatment system that costs RM5,800 on an instalment scheme. She has to settle the 20% down payment and the balance has to be paid monthly for 1 years. If the interest charged is 9% on declining balance, calculate a. The amount of interest charged using the Constant Ratio Formula. b. The instalment price. 2. A computer is being sold for RM5,000 cash. Through an instalment purchase, the purchaser has to pay RM1,000 down payment and 12 monthly instalments. The interest charged is 12% per annum on the reducing balance. By using the annuity method, find a. The monthly payment, b. The instalment price, c. The total interest charged. 3. Jasmine bought a digital camera through an instalment price plan in which she paid RM2,000 down payment. She had to make 24 monthly payments of RM360 each to settle the unpaid balance. If the dealer charged her an interest of 4% per annum on the original balance, find the cash price of the item.
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