rohani buys a washing machine by paying a RM 400 deposit and paying the balance RM 1772 after 5 months. If the interest is 10% compounded monthly, calculate the cash value of the washing machine.
Solution:
Let the balance after deposit be RM .
Then, after 5 months, amount
Thus, the cash value of the washing machine is RM (1700+400) = RM 2100.
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