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SUBJECT: BUSINESS MATH 2. Malayawata Steel Bhd made a loan of RM850,000 now due in 6 years for a sewage treatment plant construction project in

SUBJECT: BUSINESS MATH

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2. Malayawata Steel Bhd made a loan of RM850,000 now due in 6 years for a sewage treatment plant construction project in Penang, to be settled in three equal payments. First payment at the end of 1 year, next at the end of 2 years and the last payment at the end of 3 years with an interest rate of 5% compounded semi-annually. Find the size of payment by using the third year as the focal date. (7 marks)

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