Home Payment Plan Easy Home Payment Plan Summary Cost Price: Rs. 5,000,000 Total Units Customer Share: Rs. 2,000,000 Bank Share: Rs. 3,000,000 Profit Rate: Tenure in years: 10.48% Total Starting Rent Segment: Takaful Contribution Rate: 10 Salaried 0.298% Starting Month Payment Easy Home Category Unit Sale Price Monthly Rent Per Unit 120 Rs. 25.000 Rs. 218 Rs. 26,200 Rs. 51,200 Buyer (UM) Tentative Payment Schedule Months Rent (PKR) Unit Price (PKR) Takaful Contribution (PKR) Monthly Payment (PKR) Balance Unit Value (PKR) Balance Units 0 3,000,000 120 1 26,200 25,000 745 51,945 2,975,000 119 2 25,982 25,000 739 51,720 2,950,000 118 3 25.763 25,000 733 51,496 2,925,000 117 4 25,545 25.000 726 51,271 2.900.000 116 5 25.327 25.000 720 51,047 2,875,000 115 6 25,108 25,000 714 50,822 2,850,000 114 7 24,890 25,000 708 50,598 2,825,000 113 8 24,672 25,000 702 50,373 2,800,000 112 Home Payment Plan 103 3,930 25,000 112 29.042 425,000 17 104 3,712 25,000 106 28.817 400,000 16 105 3.493 25,000 99 28,593 375,000 15 106 3,275 25,000 93 28,368 350,000 14 107 3,057 25,000 87 28,144 325,000 13 108 2,838 25,000 81 27,919 300,000 12 109 2,620 25,000 75 27,695 275,000 11 110 2.402 25,000 68 27.470 250,000 10 111 2.183 25,000 62 27,245 225,000 9 112 1.965 25,000 56 27.021 200,000 8 113 1,747 25,000 50 26,796 175,000 7 114 1,528 25,000 43 26,572 150,000 6 115 1,310 25,000 37 26,347 125,000 5 116 1,092 25,000 31 26,123 100,000 4 117 873 25.000 25 25,898 75,000 3 118 655 25,000 19 25,674 50,000 2 119 437 25,000 12 25,449 25.000 1 120 218 25,000 6 25,225 0 0 Total 1,585,100 3,000,000 45,073 4,630,173 Statement Read the total amount of interest you will be paying on this transaction in 10 years' time from the table. Calculate the Actual Dollar Amount for the total interest amount if the average inflation for the 10 years time stands at 11%. Once you calculate the Actual dollar amount, do you think it is wise to go for this transaction when the discount rate is predicted to be around 8% for the next 10 years. Give your argument in not more than 3 lines