QUESTION 1 Kenny received a 120 days, 12% interest bearing note which is dated on 3 April 2019. Later on 29 May 2019, he went to bank to discount the note with 7% interest rate and received RM2500. Determine: a) the maturity value of the note (2 marks) b) the bank discount (2 marks) c) the face value of the note (3 marks) d) the new proceeds if the discount rate is changed to 8% (3 marks) QUESTION 2 Hassan plans to purchase a new vehicle by trade in his old ride. Assume that his old car trade in value is RM30000 as deposit and his new vehicle price is RM119000. According to sales agent, most banks offer lower interest rate which is average at 2.5% based on reducing balance. After consult with bank officer, he chooses loan duration to be 9 years which is suitable for his monthly income budget. By using annuity method, determine: a) the original balance (2 marks) b) the monthly payment (3 marks) c) the instalment price (3 marks) d) the interest charged (2 marks)