AL Rami Company wanted to buy a property cost $$500000.$ The company borrowed $80\%$ of the value of the property from Al Aqari Bank to be repaid yearly over $15$ years at $8\%$ Rami signed the contract which included a condition that an early repayment entail a fine of $2\%$ on the outstanding Balance. Al$-$Qari charged $$1500$ as a loan fees. $6$ years later realize that Bank of Palestine offer a mortgage @ $6\%.$ The Bank charge $2\mathrm{.}5$point $(2\mathrm{.}5\%)$ on the loan.

$1.$ What was the yearly payment that Rami had to pay?

$2.$ What was the real rate the Al$-$Aqari Charge AL$-$Rami

$3.$ What is the contract value and the market value of the loan after $6$ years.

$4.$ Would you consider refinancing? Explain.

Rami Intends to liquidate his position in Al$-$Aqari Bank by borrowing the whole sum form BP$.$

$5.$ How much would his yearly repayment?

$6.$ What is the highest fine that would prevent you from switching to another bank