QUESTION 1

Elly purchases a house by paying deposits of RM20000 and paying RM2000 monthly installments for 30 years. She also received a RM3000 rebate for the house but the processing fee is 3% from the house price and been absorbed in the loan. The bank interest rate is 4% compounded monthly. Determine the house price.

Select one:

a. RM497215.10

b. RM429050.95

c. RM412876.31

d. RM398909.12

e. RM427109.21

f. RM434675.24

QUESTION 2

Elly invested RM1100 each into three accounts for her daughter. Account A pays 5% compounded quarterly while Account B pays 3% simple interest per annum. Elly also pays RM150 every month in Account C that pays 6% compounded semi-annually. Determine the interest obtained from all accounts if the investment period is 57 months.

Select one:

a. RM2900.10

b. RM2675.24

c. RM2103.08

d. RM1997.50

e. RM2029.80

f. RM2462.09