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Tim compares two loans offered by Bank A and Bank B. Bank A Loan amount: HKD$200000 Tenor: 4 years Interest: 8%p.a. Bank B Loan amount:

Tim compares two loans offered by Bank A and Bank B. Bank A Loan amount: HKD$200000 Tenor: 4 years Interest: 8%p.a.

Bank B Loan amount: HKD$200000 Tenor: 4 years Interest: Flat rate 0.4% per month

Calculate the monthly repayments of both loans. Show the timelines, equations and your calculation steps. Give your suggestion to Tim.

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