Mr Chang funds his purchase of a house by taking out a loan costing RM 7680000 . As Mr Chang's current income is low, he is expecting his income to grow in the coming years. He agrees to make monthly payments for 30 years at the end of each month. Starting from the second payment, each monthly payment is 0.1% higher than the previous one. The annual effective interest rate on the loan is 3.6% (a) Plot a graph showing the outstanding balance at the end of each month and comment on the graph plotted. If Mr Chang now decides that he wants to use a sinking fund that provides interest of per annum, he plans to deposit level payments into the fund at the end of each year for 30 years. Construct the sinking fund payment schedule for the loan. 4.6% b) Determine if the loan amortization method or payment method is better for Mr. Chang. Then justify your answer. Mr Chang funds his purchase of a house by taking out a loan costing RM 7680000 . As Mr Chang's current income is low, he is expecting his income to grow in the coming years. He agrees to make monthly payments for 30 years at the end of each month. Starting from the second payment, each monthly payment is 0.1% higher than the previous one. The annual effective interest rate on the loan is 3.6% (a) Plot a graph showing the outstanding balance at the end of each month and comment on the graph plotted. If Mr Chang now decides that he wants to use a sinking fund that provides interest of per annum, he plans to deposit level payments into the fund at the end of each year for 30 years. Construct the sinking fund payment schedule for the loan. 4.6% b) Determine if the loan amortization method or payment method is better for Mr. Chang. Then justify your