<e> A vending treasury is purchased for RM 2,800 in cash with RM 700 down payment and fourteen monthly payments. If the interest calculated is 10% per annum, using the fixed rate equation calculation find:
1. Total interest charged
2.Secondly. monthly payment
Amount need to borrow = 2800-700 = 2100
Total interest charged = Amount to be paid in total - Amount Borrowed
=$133.60
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