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Elly purchases a house by paying deposits of RM20000 and paying RM2000 monthly installments for 30 years. She also received

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Elly purchases a house by paying deposits of RM20000 and paying RM2000 monthly installments for 30 years. She also received a RM3000 rebate for the house but the processing fee is 3% from the house price and been absorbed in the loan. The bank interest rate is 4% compounded monthly. Determine the house price.


Elly invested RM1100 each into three accounts for her daughter. Account A pays 5% compounded quarterly while Account B pays 3% simple interest per annum. Elly also pays RM150 every month in Account C that pays 6% compounded semi-annually. Determine the interest obtained from all accounts if the investment period is 57 months.

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Answer rating: 100% (QA)

Calculation of the house price The monthly interest rate is 4 12 0 0333 The total number of View the full answer


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Concepts In Federal Taxation

Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Posted Date: April 04, 2023 00:54:25
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