Mr. Chan purchased a property at $8,500,000 four years ago. He borrowed 55% from a bank...

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Mr. Chan purchased a property at $8,500,000 four years ago. He borrowed 55% from a bank through mortgage at a rate of 3.6% p.a. (APR). The loan was to be repaid monthly and the term of the mortgage was 15 years. A.Calculate the monthly installment payment. B.Calculate the total amount of principal Mr. Chan has paid in the past two years C.Calculate the total amount of interest Mr. Chan has paid in the past two years D.Peter borrows a loan of $100,000 from the bank. The loan is to be repaid by equal monthly repayment amount for 24 months. The monthly flat rate of the loan is 0.10496%. Calculate the annual percentage rate (APR) of the loan. Mr. Chan purchased a property at $8,500,000 four years ago. He borrowed 55% from a bank through mortgage at a rate of 3.6% p.a. (APR). The loan was to be repaid monthly and the term of the mortgage was 15 years. A.Calculate the monthly installment payment. B.Calculate the total amount of principal Mr. Chan has paid in the past two years C.Calculate the total amount of interest Mr. Chan has paid in the past two years D.Peter borrows a loan of $100,000 from the bank. The loan is to be repaid by equal monthly repayment amount for 24 months. The monthly flat rate of the loan is 0.10496%. Calculate the annual percentage rate (APR) of the loan.

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