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(Solved): Sandy bought a television through an instalment plan. The cash price of the television is RM4,000. S ...



Sandy bought a television through an instalment plan. The cash price of the television is RM4,000. She paid RM550 as a down payment. The balance was settled by making 20 monthly payments of RM190. If the interest rate charged was 10% per annum on the original balance, find

a) the instalment price.

b) the outstanding balance after the 10th payment using the Rule of 78.



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Answer: a) The instalment price is the total amount that Sandy has to pay in order to purchase the television, which is RM4,
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