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Question 2: Mohamed plans to buy a Toyota car through bank loan, the car price in car exhibition is BD 28,500 cash, if the bank
Question 2: Mohamed plans to buy a Toyota car through bank loan, the car price in car exhibition is BD 28,500 cash, if the bank offer an interest rate for the car loan 5.5% if she pays BD 6,000 yearly as fixed payment for the coming 4 years. [2 Marks] (1 mark) Calculate how much Mohamed should pay at the end of duration? Analysis the difference between the cash price and installment price. (1 mark)
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