(Solved): c) Metaverse FM Sdn Bhd is looking to buy one-unit permanent gondola system for high- rise building ...

c) Metaverse FM Sdn Bhd is looking to buy one-unit permanent gondola system for high- rise building maintenance. The price for a gondola is RM500,000.00. The company is looking to pay RM50,000.00 for the down payment and monthly instalment. The financing period is five years. The nominal interest rate is 6%. Calculate: i) The monthly payment based on monthly compounding interest. ii) The lump sum payment, if the company decided to pay off a lump sum of the remaining after the 36th instalment.