QUESTION 2 a) Rihana is currently holding a CMB credit card with RM9,000 outstanding balance. In order to reduce her burden, she is considering taking a RM5,000 personal loan from CMB Bank with a flat rate of 4.5 percent over 10 years. Calculate the amount of monthly instalment that she needs to pay. Find the credit card outstanding balance if she decided to use the entire borrowed amount to pay for her credit card. (5 marks) b) You plan to buy a car for a value of RM90,000 and plan to apply for financing from City Bank which can offer you an interest rate of 2.5 percent for a period of 9 years. After 10 percent of down payment, calculate how much the monthly instalment that you need to pay (5 marks) QUESTION 3 Mr. Daud was involved in an accident while commuting from his house to AEON in Nilai. He was admitted at Nilai Medical Centre. His hospital bill had accumulated to a few thousand ringgits due to medical complication during his treatment. Mr. Daud received his hospital bill and made a comparison with his medical insurance coverage. The details are as below: Item Insurance Coverage Hospital Bill Surgery RM8.400 RM9,800 Doctor RM3,500 RM2,800 Hospital Room RM180 max per day with total RM250 p/day for max of RM5,400 p/year 35 days Medicines & Reasonable amount paid full RM2,500 CT-Scan Mr. Ahmad paid RM1,750 insurance premium plyear. Calculate the total medical cost, the amount covered by the insurance policy and Mr. Ahmad's share of the cost of his treatment (excluding the yearly premium). Discuss and comment whether it is a good decision to pay the premium of RM1,750 for the policy. (10 marks)