Part b. please solve it asap. Tq. QUESTION 3a) Faizal purchased an electric motorcycle at RM8,500 through an instalment payment.The purchase was made by a down payment of RM1,500 and monthly instalments for 5years. If the interest charged is 4% on reducing balance, find:i) the monthly payment of the electric motorcycle.ii) the outstanding balance if Faizal decides to settle the loan immediately after the 24thpayment by using Rule of 78.b) Herman bought a terrace house at RM650,000. He paid a 10% down payment and thebalance was financed by taking a loan for 25 years. The interest charged was 5%compounded monthly.i)Find the monthly payment and interest charged.ii)If the loan is settled 5 years earlier than the actual period through a single payment,find this single payment.

Calculate the present value of the loan taken by multiplying the purchase value which is RM650,000…

b) Herman bought a terrace house at RM650,000. He paid a 10% down payment and the balance was financed by taking a loan for 25 years. The interest charged was 5% compounded monthly. i) Find the monthly payment and interest charged. ii) If the loan is settled 5 years earlier than the actual period through a single payment, find this single payment.

b) Herman bought a terrace house at RM650,000. He paid a 10% down payment and the balance was financed by taking a loan for 25 years. The interest charged was 5% compounded monthly. i) Find the monthly payment and interest charged. ii) If the loan is settled 5 years earlier than the actual period through a single payment, find this single payment.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 14P: Compound Interest Issues You are given the following situations: 1. Thomas Petty owes a debt of...

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