b$.$ Assume the house prices in your chosen area will appreciate by an average of $6\%$ p$.$a$.$ What will your $500000$$ property be worth at the end of $6$ years?

$1$

c$.$ In $6$ years time you will purchase your chosen property $($use the property price calculated from Part C Q$2$ b$.).$ You will need to pay $10\%$ deposit and get a mortgage for the rest of the amount. You will use the money you have saved in your investment account $($from Part C Q$1)$ and your parents will pay the rest of the deposit for you.

i$.$ Calculate the $10\%$ deposit.

ii$.$ Calculate the amount of each monthly repayment on the loan at $6\mathrm{.}1\%$ p$.$a$.$ repaid over $30$ years.

iii. How much does the apartment cost now after $30$ years time?

Year $12-$Assessment task $12023$