Dr. Mohammed bought 2 flats for $293000 and $393000. (Answer page 5 for explanations font size 12) (LO2) (10 Marks)

He put 20% down payment in both flat and obtained amortize loan for the balance at 5% annually interest for 3 years (factor 2.7232) flat-1 and 5 years (factor 4.3295) for flat-2. Prepare two separate amortization table for both flat payments? justify which flat payment is most suitable for you if your present annual income is $90,000?