iii. Ibrahim is thinking of purchasing an apartment costing RM500,000. He will apply for a loan in fully financing the house. Based on his current financial position, he can afford to pay up to a maximum of RM2,500 monthly. He has approached two banks and the loan terms offered by the banks are as follows: Loan terms Installment Loan duration Interest rate (%) Bank BUMI Annually 35 years 4% Bank PUTRA Monthly 35 years 3.95% Required: a. Calculate total interest to be paid over the loan period for each bank (2 marks) b. Based on the above information, which bank should Ibrahim choose? Why? (9 marks)