The effective annual rate of a 6-year car financing with a flat rate of 4% per annum is:

Select one: a. 7.71% b. 7.89% c. 7.61% d. 7.36%

The monthly installment of a four and a half year hire purchase financing of RM200,000 with 5% flat rate is closets to:

Select one:

a. RM5,000.00

b. RM5,595.24

c. RM5,682.00

d. RM4,537.04