Salleh bought a computer for RM5000 through an instalment purchase.He paid RM1000 down payment and loan was taken for 12 monthly instalment.The interest charged is 12% per annum on the reducing balance.By using the ANNUITY method find i. the monthly payment ii. the installment price iii. the total interest charged

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Salleh bought a computer for RM5000 through an
instalment purchase.He paid RM1000 down payment
and loan was taken for 12 monthly instalment.The
interest charged is 12% per annum on the reducing
balance.By using the ANNUITY method find
i. the monthly payment
ii. the installment price
iii. the total interest charged
Transcribed Image Text:Salleh bought a computer for RM5000 through an instalment purchase.He paid RM1000 down payment and loan was taken for 12 monthly instalment.The interest charged is 12% per annum on the reducing balance.By using the ANNUITY method find i. the monthly payment ii. the installment price iii. the total interest charged
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