16. Puan Siti intends to borrow from a bank to finance the cost of buying a house at Banting with a price of RM280,000.

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16 Puan Siti Intends To Borrow From A Bank To Finance The Cost Of Buying A House At Banting With A Price Of Rm280 000 1 (49.73 KiB) Viewed 26 times

16. Puan Siti intends to borrow from a bank to finance the cost of buying a house at Banting with a price of RM280,000. The bank has imposed this condition • If income Puan Siti exceeding RM4,500 a month, then she is entitled to borrow 95% of the price of the house • If income Puan Siti is less than RM4,500 a month, then she entitled to borrow 90% of the price of the house. The Bank has imposed an interest of 6.5% per annum. It is understood the basic salaries of Puan Siti last year was RM3,250. For this year, she has received several increments as follows: i. Annual increment ai RM250 ii. Housing allowance increase by 10% from RM600 last year iii. Critical allowance increase by 5% from RM400 last year If Puan Siti wants to make a loan for 25 years, calculate: a. Total amount of loan b. Total overall payment c. Monthly payment to be paid at RM302 00 Other