Question: A client is seeking our advice regarding a mortage property for property investment. The plan is to have $150000 as a downpayment by the end

A client is seeking our advice regarding a mortage property for property investment. The plan is to have $150000 as a downpayment by the end of year 5, and buy a $1000000 house with $850000 from a mortage. The client would like to follow a fixed quarterly saving plan to achieve the goal of $150000 by the end of year 5, with the first saving made today. The mortage repayment will be paid on a monthly basis with 30 years term. The interest rate is assumed to be stable at 0.05. Please advise the quarterly saving plan and the monthly mortgage repayment.

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