While vacationing in Bintan Island, Samwan saw the vacation home of his dream. It was listed with a sale price of $250,000. The only catch is that Samwan is 30 years old and plans to continue working until he is 65. Still, he believes that he can earn 9% annually after taxes on his investments. He is willing to invest a fixed amount at the end of each year to fund the cash purchase of such a house when he retires. Inflation is expected to average 5% per year. How much must Samwan invest at the end of each year to have the cash purchase of the house when he retires? Diadermen suggests to borrow money from a Bank. He has to pay a 30% down payment and take out a mortgage for the remainder. Since he just got married and wants to save some money for future use, he will choose the plan with the lowest monthly payment. After visiting several banks, he received the following mortgage offers. Bank BCA at a 3,5% interest rate to be repaid over 15 years, Bank BNI at a 4% interest rate to be repaid over 20 years and Bank Mandiri at a 4.5% interest rate to be repaid over 18 years. What are the monthly payments for plans offered by the three banks. Which plan should Samwan choose