Encik Najmuddin plans to buy a new house for his family. He opts for the house that
Question:
Encik Najmuddin plans to buy a new house for his family. He opts for the house that cost about RM500 000 to RM800 000. He is able to pay l0% of the down payment from rhe price of the house. Apart from that, Encik Najmuddin also put a budget of RMl5 000 for the insurance and lawyer fees. As a properly advisor, assist Encik Najmuddin to find his dream house. You are required to assist Encik Najmuddin according to the information below:
a) types of houses that he can afford to buy
b) banks that offer good interest rate.
c)calculation of interest, total loan and monthly payment that need to be paid by him.
d) advise Encik Najmuddin for each of the housing loan provided by the chosen banks in (b).
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach