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Zahar amortizes a loan RM60,000 for a new car by obtaining a 9-year mortgage at the rate of 8.6% compounded quarterly. Find, (a) The monthly

Zahar amortizes a loan RM60,000 for a new car by obtaining a 9-year mortgage at the rate of 8.6% compounded quarterly. Find, (a) The monthly payment (pay at the end of each month). [12 marks] (b) The principal remaining after 6 years. [5 marks]

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