2. Mr Rahim was given FOUR (4) options by a financial institution for a loan of RM XX,000. The options are as below. Option 1 Option 2 Option 3 50 Simple interest rate of i for 5 years Simple interest rate of (i 0.5) for 6 years XX,000 Equal monthly payments of RM for a period of 5 years at an interest rate of i compounded monthly. XX,000 Equal monthly payments of RM for a period of 4.5 years at an interest rate of i compounded monthly. Option 4 40 As the financial advisor, help Mr Rahim to calculate the total amount of his loan and interest he must pay for each option. Elaborate and show the appropriate calculations by using your own assumptions for amount XX and i. Suggest the best option for Mr Rahim considering that he can only pay not more than RM600 per month. 2. Mr Rahim was given FOUR (4) options by a financial institution for a loan of RM XX,000. The options are as below. Option 1 Option 2 Option 3 50 Simple interest rate of i for 5 years Simple interest rate of (i 0.5) for 6 years XX,000 Equal monthly payments of RM for a period of 5 years at an interest rate of i compounded monthly. XX,000 Equal monthly payments of RM for a period of 4.5 years at an interest rate of i compounded monthly. Option 4 40 As the financial advisor, help Mr Rahim to calculate the total amount of his loan and interest he must pay for each option. Elaborate and show the appropriate calculations by using your own assumptions for amount XX and i. Suggest the best option for Mr Rahim considering that he can only pay not more than RM600 per month