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Introduction: Peter Pan was born in Hong Kong and is now 28 years old. Peter is currently a nutritioniat working at a private nutritional diet

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Introduction: Peter Pan was born in Hong Kong and is now 28 years old. Peter is currently a nutritioniat working at a private nutritional diet centre with a monthly salary of $35,000 (No double pay or bonus). Meanwhile, his monthly personal expenditure is around 518,000. Peter is covered by a group medical insurance policy (basic plan) offered by his cmployer. Other than that, he does not have any other personal insurance policy on hand. Peter is living with his parents but he will get married very woon. His fiancc is an assistant marketing managet working in a listed corpotation in Hong Kong with a monthly salary of $30,000 (No double pay or bonus). Peter does not own any property; be wants to buy a second-hand residential property valued at around 57,000,000 and pay a 10% down payment affer marriage. As a financial planner for Peter, you have collected his personal informution and will cooduct an initial assessment of his financial situation. You have drawn up a simple personal balance sheet for him as follows: The following shows the other information or assumptions: 1. Peter plans to retire at 65 years old and his life expectancy is 22 years after retirement. 2. Peter's risk tolerance level is moderate. 3. The long-term average inflation rate in Hong Kong is estimated to be 3% per annum. 4. The normal rate of return on investment is projected to be 4% per annum. 5. Assume the prime rate in Hong Kong is 5% per annum. You are required to answer the following questions before preparing a financial plan for Peter. a) Identify TWO major financial needs of Peter in the above case. Support your opinion with reference to the information provided in the introduction and the life cycle financial planning model. (5 mariks) b) i) Under normal eircumstances, for property value less than $10 million, what is the maximum loan-to-value (LTV) ratio of mortgage lending offered by baniss in Hons Kong? What should Peter do so that bank could provide a mortgage loan of 90%6 of the property value to him? (2 marks) ii) Assunse that Peter could borrow 90% of the property value of 57,000,000 from a bank: If the mortgage interest rate is P2.5% and Peter intends to borrow the mortgage loan for 25 years, what is the monthly mortgage repayment amount for Peter? (Show the calculation steps) (2 marks) iii) In reality, given the monthly salary of Peter, discuss if he is clugible to borrow a morigage loan of 90% LTV from a bank by himself only. If he is not eligible, what is the possible solution for him to borrow the mortgage loan of 90% LTV from a bank? (5 marks) c) Since Peter only has limited investment assets, try to recommend some realdiff investeneat products to him by: i) giving a brief description of the investment products recomamended; and (3 marks) ii) explaining why they are suitable for Peter. (5 marks) Introduction: Peter Pan was born in Hong Kong and is now 28 years old. Peter is currently a nutritioniat working at a private nutritional diet centre with a monthly salary of $35,000 (No double pay or bonus). Meanwhile, his monthly personal expenditure is around 518,000. Peter is covered by a group medical insurance policy (basic plan) offered by his cmployer. Other than that, he does not have any other personal insurance policy on hand. Peter is living with his parents but he will get married very woon. His fiancc is an assistant marketing managet working in a listed corpotation in Hong Kong with a monthly salary of $30,000 (No double pay or bonus). Peter does not own any property; be wants to buy a second-hand residential property valued at around 57,000,000 and pay a 10% down payment affer marriage. As a financial planner for Peter, you have collected his personal informution and will cooduct an initial assessment of his financial situation. You have drawn up a simple personal balance sheet for him as follows: The following shows the other information or assumptions: 1. Peter plans to retire at 65 years old and his life expectancy is 22 years after retirement. 2. Peter's risk tolerance level is moderate. 3. The long-term average inflation rate in Hong Kong is estimated to be 3% per annum. 4. The normal rate of return on investment is projected to be 4% per annum. 5. Assume the prime rate in Hong Kong is 5% per annum. You are required to answer the following questions before preparing a financial plan for Peter. a) Identify TWO major financial needs of Peter in the above case. Support your opinion with reference to the information provided in the introduction and the life cycle financial planning model. (5 mariks) b) i) Under normal eircumstances, for property value less than $10 million, what is the maximum loan-to-value (LTV) ratio of mortgage lending offered by baniss in Hons Kong? What should Peter do so that bank could provide a mortgage loan of 90%6 of the property value to him? (2 marks) ii) Assunse that Peter could borrow 90% of the property value of 57,000,000 from a bank: If the mortgage interest rate is P2.5% and Peter intends to borrow the mortgage loan for 25 years, what is the monthly mortgage repayment amount for Peter? (Show the calculation steps) (2 marks) iii) In reality, given the monthly salary of Peter, discuss if he is clugible to borrow a morigage loan of 90% LTV from a bank by himself only. If he is not eligible, what is the possible solution for him to borrow the mortgage loan of 90% LTV from a bank? (5 marks) c) Since Peter only has limited investment assets, try to recommend some realdiff investeneat products to him by: i) giving a brief description of the investment products recomamended; and (3 marks) ii) explaining why they are suitable for Peter

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