Question 5 :

Lawrence bought a new house for RM388000. He needed to pay a 5% down payment. The balance was borrowed from a finance company that charged interest at 7.23% compounded monthly. The period of the payment was 20 years.

a)Find the amount he needed to borrow from the finance company.

b)Find the monthly installment payment made to the finance company.

c)After paying for 13 years, he decided to settle all the unsettled loan in one single payment, find:

i.The amount of this single payment.

ii.The total interest paid.

iii.The amount of rebate from the finance company.

Please help me calculating this question by showing steps by steps & detailed calculation process TQ VM~