To finance the purchase of the machine by issuing RM6 million, six-year, zero interest-bearing note to the seller on 1 July 2019. The expected interest rate for the note is 5.5%. The company is expected to pay off the note in six RM1 million instalments, at every financial year end. The company employs effective interest method.

Calculate the yearly instalment and interest. Assume financial year ends December.