16. Puan Siti intends to borrow from a bank to finance the cost of buying a house at Banting with a price of RM280,000. The bank has imposed this condition: If income Puan Siti exceeding RM4,500 a month, then she is entitled to borrow 95% of the price of the house If income Puan Siti is less than RM4,500 a month, then she entitled to borrow 90% of the price of the house. The Bank has imposed an interest of 6.5% per annum. It is understood the basic salaries of Puan Siti last year was RM3,250. For this year, she has received several increments as follows: i. Annual increment ai RM250 ii. Housing allowance increase by 10% from RM600 last year iii. Critical allowance increase by 5% from RM400 last year If Puan Siti wants to make a loan for 25 years, calculate: Total amount of loan b. Total overall payment c. Monthly payment to be paid а. RM302 000 Other
16. Puan Siti intends to borrow from a bank to finance the cost of buying a house at Banting with a price of RM280,000. The bank has imposed this condition: If income Puan Siti exceeding RM4,500 a month, then she is entitled to borrow 95% of the price of the house If income Puan Siti is less than RM4,500 a month, then she entitled to borrow 90% of the price of the house. The Bank has imposed an interest of 6.5% per annum. It is understood the basic salaries of Puan Siti last year was RM3,250. For this year, she has received several increments as follows: i. Annual increment ai RM250 ii. Housing allowance increase by 10% from RM600 last year iii. Critical allowance increase by 5% from RM400 last year If Puan Siti wants to make a loan for 25 years, calculate: Total amount of loan b. Total overall payment c. Monthly payment to be paid а. RM302 000 Other
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:16. Puan Siti intends to borrow from a bank to finance the cost of buying a house at
Banting with a price of RM280,000. The bank has imposed this condition:
• If income Puan Siti exceeding RM4,500 a month, then she is entitied to
borrow 95% of the price of the house
• If income Puan Siti is less than RM4,500 a month, then she entitled to borrow
90% of the price of the house.
The Bank has imposed an interest of 6.5% per annum. It is understood the basic
salaries of Puan Siti last year was RM3,250. For this year, she has received several
increments as follows:
i. Annual increment ai RM250
ii. Housing allowance increase by 10% from RM600 last year
iii. Critical allowance increase by 5% from RM400 last year
If Puan Siti wants to make a loan for 25 years, calculate:
Total amount of loan
Total overall payment
Monthly payment to be paid
a.
b.
С.
houre at the price at RM302,000. Other
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