Question: a . Nadia bought a bedroom set at RM 2 , 7 2 7 cash by installment. She was charged an interest of 1 5

a. Nadia bought a bedroom set at RM2,727 cash by installment. She was charged an interest of 15% based on the reducing balance. She has to pay a down payment of RM666 and equal payments for 2 years. Find;
i. the monthly payment using the Constant Ratio Formula,
ii. the installment price,
iii. the amount of the outstanding balance just after the 18th payment using Rule of 78.

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