Question 1 a) Faizal borrows RM 10,000 to purchase a car and willing to pay the full amount back in one payment, ten years from now. He agrees to pay interest monthly on the RM 10.000 at an annual rate of 12%. He makes monthly level payments into a sinking fund to accumulate the lump-sum payment. The sinking fund earns 9% interest, compounded monthly. How much does he pay monthly? (4m) b) Athirah has decided to retire as soon as she has saved RM 1,000,000. How many years will she able to retire if she plans to pay RM 200 monthly into annuity immediate that pays annual interest rate of 8%? [4m)