Syaherah is applying for a RM50,000 hire purchase from BCD Bank. The interest rate of the loan is 6% per annum flat and the duration is 9 years. However, the bank does not provide full financing instead, requires her to provide a 20% deposit of the total amount of the loan applied. Syaherah has approached you and asked your assistance to calculate the rebate that she would receive if she settles the loan after 40 months of servicing the installments. OA RM7,613.23 O B. RM8,611.95 OC RM6,642.67 O D. RM8,609.17

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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urgent please
Syaherah is applying for a RM50,000 hire purchase from BCD Bank. The interest rate of the loan is 6% per annum
flat and the duration is 9 years. However, the bank does not provide full financing instead, requires her to provide a
20% deposit of the total amount of the loan applied. Syaherah has approached you and asked your assistance to
calculate the rebate that she would receive if she settles the loan after 40 months of servicing the installments.
O A RM7,613.23
OB.
RM8,611.95
OC. RM6,642.67
O D. RM8,609.17
Transcribed Image Text:urgent please Syaherah is applying for a RM50,000 hire purchase from BCD Bank. The interest rate of the loan is 6% per annum flat and the duration is 9 years. However, the bank does not provide full financing instead, requires her to provide a 20% deposit of the total amount of the loan applied. Syaherah has approached you and asked your assistance to calculate the rebate that she would receive if she settles the loan after 40 months of servicing the installments. O A RM7,613.23 OB. RM8,611.95 OC. RM6,642.67 O D. RM8,609.17
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