Question: PLZ DO ASAP QUESTION 2 Hassan plans to purchase a new vehicle by trade in his old ride. Assume that his old car trade in

PLZ DO ASAP QUESTION 2 Hassan plans to purchase a new

PLZ DO ASAP

QUESTION 2 Hassan plans to purchase a new vehicle by trade in his old ride. Assume that his old car trade in value is RM30000 as deposit and his new vehicle price is RM119000. According to sales agent, most banks offer lower interest rate which is average at 2.5% based on reducing balance. After consult with bank officer, he chooses loan duration to be 9 years which is suitable for his monthly income budget. By using annuity method, determine: a) the original balance (2 marks) b) the monthly payment (3 marks) c) the instalment price (3 marks) d) the interest charged (2 marks)

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