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What is the amount are eligible to loan

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Question 1. Assume that you wish to purchase a computer and willing to pay monthly installment of RM100 a month. If a bank offers a loan, whereby the payments can be made for a duration of 3 years at 12% monthly compounded rate, what is the amount you are eligible to loan.

Question 2. Sulaiman loans RM 45,000 for years at 12% monthly compounded interest rate. The installement is paid monthly. Based on the information provided, what is the installment payment per month?

Reference no: EM132589649

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