a) Nizam borrowed some amount of money from Barjaya Bank to purchase a new car. He has to repay RM1,200 monthly for 5 years. If the bank charged an interest rate at 5% per annum on the original balance, calculate the amount borrowed.

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QUESTION 5
a) Nizam borrowed some amount of money from Barjaya Bank to purchase a new car. He
has to repay RM1,200 monthly for 5 years. If the bank charged an interest rate at 5%
per annum on the original balance, calculate the amount borrowed.
Transcribed Image Text:QUESTION 5 a) Nizam borrowed some amount of money from Barjaya Bank to purchase a new car. He has to repay RM1,200 monthly for 5 years. If the bank charged an interest rate at 5% per annum on the original balance, calculate the amount borrowed.
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