Question 2 : David purchased a property for $ 2 million and arranged a mortgage with DBS
Fantastic news! We've Found the answer you've been seeking!
Question:
Question :
David purchased a property for $ million and arranged a mortgage with DBS bank to borrow of the property value. the current mortgage rate is pa David inteneded to repay his mortgage over years. The mortgage repayment is made at the beginning of every month
Required:
a Compute the principal and interest repayments seperately, which David has paid in total for first months.
b David expects the interest rate would increase by basis points if he borrows one month later, but he still wants to pay a same monthly repayment for his mortgage, what advice could you give to David?
Posted Date: