3. Encik Zamrul plans to buy an under construction property. The property is expected to complete in 2 years time, upon completion, he will start paying the instalment amount. However, for under construction property, he will only be able to move in on 1^st July 2021. While he is waiting for the property to complete, he is renting an apartment for RM950 per month (starting 1^st June 2019). He is single and working as an engineer earning a monthly salary of RM7,200. He plans to take a 30 years loan. The bank is offering an interest rate of 4.5% per annum.

While under the construction period, Encik Zamrul will be required to pay the grace period profit to the bank. Below is the schedule of progressive release based on the stages done by the developer.

Property under construction (Expected completion date 1 June 2021)

Property price = RM 395,000

Commencement date : 1 June 2019

1st disbursement 15 June 2019 RM15,000

2^nd disbursement 5 October 2019 RM83,000

3^rd disbursement 22 December 2019 RM106,000

4^th disbursement 5 April 2020 RM150,000

Final disbursement 10 May 2021 RM41,000

Calculate the initial cost that Encik Zamrul need to incur prior to the first loan instalment for the property under construction.