Rama, a young professional has been working for the last five years and wanted to buy his first house. His current take-home pay is RM60,000 a year with a vehicle loan balance of RM36,000. He has RM20,000 savings in his EPF Account 2 which he intends to use as a down payment for the house. The value of his car now stands at RM50.000 and has no other assets and commitments. His monthly expenditures is about RM3,500. Required: (i)Calculate Rama's net worth. (10 marks) (ii)What is Rama's monthly living expense coverage ratio? (5 marks) (b) How would you adapt the stages of financial life cycle to your own personal life in short, medium, and long-term planning? (10 marks)

Please do it as soon as possible thanks