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Q1 Helmi is considering purchasing a building for his business costing RM1,250,000. He will pay 20 percent down payment and take out a loan for

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Q1 Helmi is considering purchasing a building for his business costing RM1,250,000. He will pay 20 percent down payment and take out a loan for the remaining amount. Since the business is still new, and he wants to save some money for future operational use, he will select the plan with the lowest monthly payment. After visiting several banks, he summarised the offers as shown in Table Q1. Q1: Interest rate and number of years Bank ABC DEF GHI Interest rate 4% 3.5% 4.5% Term (years) 15 20 25 Assume all monthly payments to be paid end-of-month. (1) Compute the monthly payments for each plan. (6 marks) ( (ii) Advise which plan Helmi should undertake. Activate Wind Go to (3tmarks) a

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