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6. En. Baki is 28 years ould and an executive in a private company earning an annual income of RM78,000. He plans to purchase

6. En. Baki is 28 years ould and an executive in a private company earning an annual income of RM78,000. He plans to purchase a house. He has already saves RM50,000 and have no other obligations. He plans to buy a house that cost hime RM400,000. The bank is offering an interest of 5% for the entire loan tenure. a. How much would En. Baki need to pay monthly? (6 marks) b. Is En. Baki eligible to purchase the property? (4 marks)

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