Question $1$

You want to purchase a new Car for OMR $10\mathrm{.}000.$ You pay a $20\%$ down payment and agree to pay the remaining amount in one year in equated monthly installments by applying loan. The rate of interest is $7\%$ p$.$a

You are required to calculate Equated Monthly Installments $($EMI$)$ by using the Flat Interest Rate Method and prepare the amortization table for $1$ year

Question $2$

Visit THE BANK OF MUSCAT IN OMAN and find out the procedure followed by the banks for the approval of housing$/$personal$/$car loans. Prepare step by step process for the loan approval

Question $3$

Complete the missed information

Purchase price of the product$=$ OMR $35700$

Down payment $=10\%$

Amount Financed $=.......$

Number of Monthly Payments $=24$

Amount of monthly payment $=$OMR $1500$

Total Monthly payments $=........$

Total Financial Charge $=....$

APR$=.....$

Deferred Payment Price $=.....$