QUESTION 2 a) Being a professional photographer, Qash Adam bought a DSLR Canon camera priced at RM3,600 on 4th March 2019. The shop, Marvel Photo Sdn Bhd agreed to sell the camera on an easy payment plan using his Ikhwan Maybank Visa credit card by spreading the price into 12 equal monthly payments. The first payment had been affected on the purchase date while the subsequent payments will be debited to his visa credit card account on every 4th of the consecutive months. On 6th March 2019, Qash Adam received a call from Ikhwan Maybank Visa credit card centre advising him that the bank had agreed to refund RM180 being annual fee wrongly debited to his account in February 2019. The refund would be credited to his account on 31st March 2019. The start of billing cycle for Ikhwan Maybank Visa credit card is on 16th March 2019 and Qash Adam's account had an outstanding balance of RM8,450 on that day. Date March 17 March 20 March 21 March 23 Transactions Bought Malindo Air return tickets to Jakarta Shop at Cotton On Setia Mall Groceries at Jaya Grocer Shah Alam April 1 April 1 April 5 Repair charges on Toyota Hilux 2,500 Lunch at Kenny Rogers, Shah Alam Visa Credit Card payment Lazada online shopping Pacific Hotel, Johor Bahru Legoland entrance tickets 210 April 11 550 April 11 370 Using average daily balance method including current purchases, compute the following: RM 820 550 140 990 120 i) Average daily balance ii) Interest charge iii) Total outstanding balance iv) Minimum payment v) Outstanding balance after minimum payment Assume that the interest charged is 18 percent per annum on the unpaid balance and minimum payment required is 5 percent. (10 marks) b) If you are taking out a personal loan of RM100,000 with a flat rate interest of 5.5 percent over 10 years, calculate the amount of monthly instalment you need to pay. Briefly explain one (1) reason why a personal loan may be a good choice. (5 marks) c) Common stocks give you the benefit of investing in a company with limited liability and a high earning potential. However, you are the last to get paid during liquidation and have less control over your investments. Explain two (2) advantages of investing in common stock