Based on the information given, it can be noted that the monthly payment will be RM 166.25.
Solving percentages.
Based on the information given, the balance that will be paid will be:
= 3500 + 2(7% × 3500)
= 3500 + 2(0.07 × 3500)
= 3500 + (2 × 245)
= 3500 + 490
= 3990
Therefore, the monthly installment of the piano will be:
= 3990/24
= 166.25
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