Question $2$

Bio Valley Manufacturing Sdn Bhd sponsors a student loan program for the

children of their employees. No interest is charged until graduation, and then

the interest rate is $5\%.$ Assume that Johan borrows RM$8,000$ per year at the

beginnings of years $1$ through $4$ and that he graduates at the end of year $4.$ If

equal annual payments are made at the ends of years $5$ through $9,$ what is the

actual rate charged on Johan's loan by Bio Valley? Draw the cash flow diagram.