Jovian bought a house in Pandan Indah and he is paying RM2,100 per month on his mortgage loan. Given the interest rate of the loan is 5 percent compounded  annually for 30 years.

Compute the original amount of the loan.

 

Mortgage rate is set up based on the Base Lending Rate (BLR) or Base Rate (BR) and spread of bank margin. Mortgage rate can be divided into two types that is fixed rate mortgage and adjustable-rate mortgage.

 Distinguish between fixed rate mortgage and adjustable-rate mortgage.

Answer rating: 100% (QA)

A fixed rate mortgage is a type of mortgage loan where the interest rate remains the same througho... View the full answer