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Assuming you have graduated and have been working for several years. You are planning to buy a house that built by MahSing developer. You have saved some money and plan to use them as a down payment. You intend to apply for 35 years loan to finance your purchase of the house for the balance of the purchase price.

(a). Brief the detail of the house (type, location, price, etc) and reason you want to purchase the house.

. (3 marks)

(b). Calculate the amount of the down payment for the house you intend to purchase if you would like to make 10 percent down payment.

(3 marks)

(c). You have been approach by the bank and provided the following offers:

Bank	Interest rate (% p.a.)	Maximum tenure (year)	Maximum Margin (%)	Lock in Period (Year)
Standard Chartered	4.50	35	100	0
Bank of China	2.85	35	80	3
HSBC	3.74	35	90	0
Maybank	3.25	35	85	3
CIMB Bank	3.10	35	90	3
RHB Bank	3.74	30	90	3
Bank Rakyat	3.18	30	90	5

1. Which bank do you prefer to take up the loan. Justify.

(3 marks)

2. Based on your answer (i), calculate your monthly installment to the bank.

(4 marks)

(d). After 10 years of buying the property, you decide to assess the cost of servicing the loan.

1. Fill up the monthly amortization table for 10 years by using Excel. [Hint: copy and paste your answer in below table]

Month	Beginning Principal	Annuity Payment	Interest Payment	Principal Payment	Ending Principal
1
2
:
:
120

(24 marks)

ii. Based on your answer above d(i), answer the following:

a. In Ringgit terms, how much have you paid to the respective bank?

(2 marks)

b. How much do you still owe on the property?

(2 marks)

c. How much total interest have you paid to the respective bank?

(3 marks)

d. How much total principal amount have you paid to the respective bank?

(3 marks)

e. Based on your observation from month 1 until 120, discuss on annuity payment specifically on interest and principal payment.

How to do d)ii,c

I have send the d)i part earlier because only one question each time submit

ii. Based on your answer above d(), answer the following: Assuming you have graduated and have been working for several years. You are planning to buy a house that built by MahSing developer. You have saved some money and plan to use them as a down payment. You intend to apply for 35 years loan to finance your purchase of the house for the balance of the purchase price. a. In Ringgit terms, how much have you paid to the respective bank? (2 marks) b. How much do you still owe on the property? (a) Brief the detail of the house (type, location, price, etc) and reason you want to purchase the house. (3 marks) (2 marks) c. How much total interest have you paid to the respective bank? (3 marks) (b) Calculate the amount of the down payment for the house you intend to purchase if you would like to make 10 percent down payment. (3 marks) d. How much total principal amount have you paid to the respective bank? (3 marks) (c) You have been approach by the bank and provided the following offers: Bank Interest rate e. Based on your observation from month 1 until 120, discuss on annuity payment specifically on interest and principal payment. (3 marks) Lock in Period (Year) (% p.a.) Standard Chartered Bank of China HSBC Maybank CIMB Bank RHB Bank Bank Rakyat 4.50 2.85 3.74 3.25 3.10 3.74 3.18 Maximum tenure (year 35 35 35 35 35 30 30 Maximum Margin (%) 100 80 90 85 90 90 90 -End of Assignment Question- 3 5 i. Which bank do you prefer to take up the loan. Justify. (3 marks) ii. Based on your answer (0), calculate your monthly installment to the bank. (4 marks) (d) After 10 years of buying the property, you decide to assess the cost of servicing the loan. i. Fill up the monthly amortization table for 10 years by using Excel. (Hint: copy and paste your answer in below table] Month Beginning Principal Annuity Payment Interest Payment Principal Payment Ending Principal 120 (24 marks) ii. Based on your answer above d(), answer the following: Assuming you have graduated and have been working for several years. You are planning to buy a house that built by MahSing developer. You have saved some money and plan to use them as a down payment. You intend to apply for 35 years loan to finance your purchase of the house for the balance of the purchase price. a. In Ringgit terms, how much have you paid to the respective bank? (2 marks) b. How much do you still owe on the property? (a) Brief the detail of the house (type, location, price, etc) and reason you want to purchase the house. (3 marks) (2 marks) c. How much total interest have you paid to the respective bank? (3 marks) (b) Calculate the amount of the down payment for the house you intend to purchase if you would like to make 10 percent down payment. (3 marks) d. How much total principal amount have you paid to the respective bank? (3 marks) (c) You have been approach by the bank and provided the following offers: Bank Interest rate e. Based on your observation from month 1 until 120, discuss on annuity payment specifically on interest and principal payment. (3 marks) Lock in Period (Year) (% p.a.) Standard Chartered Bank of China HSBC Maybank CIMB Bank RHB Bank Bank Rakyat 4.50 2.85 3.74 3.25 3.10 3.74 3.18 Maximum tenure (year 35 35 35 35 35 30 30 Maximum Margin (%) 100 80 90 85 90 90 90 -End of Assignment Question- 3 5 i. Which bank do you prefer to take up the loan. Justify. (3 marks) ii. Based on your answer (0), calculate your monthly installment to the bank. (4 marks) (d) After 10 years of buying the property, you decide to assess the cost of servicing the loan. i. Fill up the monthly amortization table for 10 years by using Excel. (Hint: copy and paste your answer in below table] Month Beginning Principal Annuity Payment Interest Payment Principal Payment Ending Principal 120 (24 marks)