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Azizan plans to replace his old car with a new one that costs
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Azizan plans to replace his old car with a new one that costs RM95,200. The down payment that he can afford is RM17,000. He plans to borrow the rest from a bank. The bank offers a loan that can be settled by monthly instalments of RM1,175 for 90 months. Calculate: (a) The amount of interest charged by the bank (b) The interest rate charged by the bank

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Azizan plans to replace his old car with a new one that costs RM95,200. The down payment that he can afford is RM17,000. He plans to borrow the rest from a bank. The bank offers a loan that can be settled by monthly instalments of RM1,175 for 90 months. Calculate: (a) The amount of interest charged by the bank (b) The interest rate charged by the bank
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Question Text
Azizan plans to replace his old car with a new one that costs RM95,200. The down payment that he can afford is RM17,000. He plans to borrow the rest from a bank. The bank offers a loan that can be settled by monthly instalments of RM1,175 for 90 months. Calculate: (a) The amount of interest charged by the bank (b) The interest rate charged by the bank
TopicAll Topics
SubjectPre Calculus
ClassClass 11