QUESTION 3 The cash price of a refrigerator is RM8,150. It can be purchased by monthly instalments and a down payment of RM200. The payment is to be paid in 2 years and the interest charged is 3.5% on reducing balance. Calculate i) the amount of interest charged. (4 marks) ii) the monthly payment. (3 marks) iii) the outstanding balance if a buyer wishes to settle the debt immediately after the 18th payment by using the Rule of 78