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QUESTION 3 Jauhari buys a house for RM 230,000. He makes a 10% down payment and finances the balance through a bank for
Posted: Sun Jul 03, 2022 6:50 am
by answerhappygod
- Question 3 Jauhari Buys A House For Rm 230 000 He Makes A 10 Down Payment And Finances The Balance Through A Bank For 1 (118.1 KiB) Viewed 12 times
QUESTION 3 Jauhari buys a house for RM 230,000. He makes a 10% down payment and finances the balance through a bank for 30 years. (a) If the interest rate is 7.5 % compounded monthly, find the monthly payme Jauhari has to make to settle the loan. How much is the total interest charged (b) Suppose Jauhari thisses the first three payments. How much should he pay on the fourth month if he wants to settle the outstanding arrears? (4 marks) (c) Immediately after paying for 10 years, Jauhari wants to settle the loan in full. How much is the amount he needs to pay? (4 marks]