Jow $($age: $35)$ has accumulated RM$80,000$ as the down payment for property

acquisition. Based on his current income, Jow can only repay a monthly

installment of RM$2,000.$ Assuming the bank is charging an interest rate of $12\%$

p$.$a$.$ compounding monthly, and the maximum loan term is $30$ years or up to the

age of $60$ whichever is earlier. Compute the maximum value of property Jow

afford to purchase. $($Additional information: the loan is to be repaid in equal

installments at the end of every month$).$

$(5$ marks$)$

b$)$ Sophia is looking into $2$ investment plans, namely P and Q$.$ Plan P involves setting

aside RM$500$ at the beginning of every quarter for $10$ years. Plan Q requires an

amount of RM $250$ at the beginning of each quarter for $20$ years. If the rate of

return is $12\%$ a year compounded quarterly, which plan provides a higher future

value?