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8. The cash price of an apartment in City Villa is RM204,600. It can be purchased through an instalment plan by making a down payment
8. The cash price of an apartment in City Villa is RM204,600. It can be purchased through an instalment plan by making a down payment of 10% followed by a mortgage contract for 30 years to be paid in equal monthly payments. The interest charge is at j12 6.8%. (Harga tunai sebuah apartmen di City Villa ialah RM204,600. Ia boleh dibeli melalui pelan ansuran dengan membuat bayaran muka sebanyak 10% diikuti dengan kontrak gadai janji selama 30 tahun untuk dibayar dalam bayaran bulanan yang sama. Caj faedah adalah pada j12 = 6.8%.) = (a) Find the monthly payment R. (Cari bayaran bulanan R.) [3 Marks/Markah] (b) Copy the table below and make out a partial amortization schedule showing the distribution of the first 5 payments as to interest and repayment of principal. Show all the calculations for cells labelled with (i), (ii) and (iii)
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