Assuming you have graduated and started working for several years. You started as an executive and now has been promoted to an assistant manager in your present company due to your good performance. One day you came across an apartment and a landed house that you are interested in. After giving some careful thought, you decided to purchase one of the properties and plan to get a loan from a bank. The property may be the biggest purchase you will ever make so far. Answer the following questions:

Calculate the monthly installment payment assuming you decided to purchase one of the property which costs $400,000 with a down payment of 20% and a term of 30 years. Assumed that the interest charged is 5%. Is there any other cost involved? Create an amortization table and show all your calculation/work for the first two years.