question archive 2) Zaim bought a low-cost terrace house for RM35,000
2) Zaim bought a low-cost terrace house for RM35,000
Subject:FinancePrice: Bought3
2) Zaim bought a low-cost terrace house for RM35,000. He paid a 10% down payment and the balance was borrowed from bank that charged interest at the rate of 8.5% compounded monthly. This loan will be repaid in monthly installment for 10 years. Find (a) the monthly payment and (b) the total interest he needs to pay. (5 Marks) 3. Zuraisya borrows RM9000 for 4 months from a lender who charges a discount rate of 5%. Find: a) the amount of bank discount. (1.5 Marks) b) the proceeds. (1.5 Marks) (Total: 3 Marks) 4. An invoice of RM15,000 and dated 18 April 2016 is offered 30% trade discount and cash discount terms of 9/10, n/30. Find: a) the amount of trade discount offered. (2 Marks) b) the amount of cash discount offered. (2 Marks) c) the net payment if the invoice is paid on 28 April 2016.
