2. En Nasir is a 28 years old executive in a private company earning an annual...

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2. En Nasir is a 28 years old executive in a private company earning an annual income of RM78,000. He plans to purchase a house. He has already saved RM50,000 and have no other obligations. He plans to buy a house that cost him RM400,000. The bank is offering an interest of 5% for the entire loan tenure. When applying for the loan, he has the option of buying MRTA for RM1,675. a. b. How much would En. Nasir need to pay monthly? Is En. Nasir eligible to purchase the property? (6 marks) (4 marks) 2. En Nasir is a 28 years old executive in a private company earning an annual income of RM78,000. He plans to purchase a house. He has already saved RM50,000 and have no other obligations. He plans to buy a house that cost him RM400,000. The bank is offering an interest of 5% for the entire loan tenure. When applying for the loan, he has the option of buying MRTA for RM1,675. a. b. How much would En. Nasir need to pay monthly? Is En. Nasir eligible to purchase the property? (6 marks) (4 marks)

Answer rating: 100% (QA)

To calculate the monthly payment for En Nasir we need to consider the loan amount interest rate and ... View the full answer