Question: *PLEASE SOLVE MANUALLY NOT USING EXCEL* a) Aiza plans to renovate her house for RM 300,000. She surveyed few banks and have shortlisted two banks

*PLEASE SOLVE MANUALLY NOT USING EXCEL* a) Aiza plans to renovate

*PLEASE SOLVE MANUALLY NOT USING EXCEL*

a) Aiza plans to renovate her house for RM 300,000. She surveyed few banks and have shortlisted two banks to choose. CIMB provides her with 6% convertible semiannually with semiannual payments for a maximum of 9 years and Affin Bank provides her with 16% convertible quarterly with quarterly payments for a maximum of 8 years. Could you please help Aiza to:

i) Calculate the regular payments for each bank loan, using the maximum number of years for each respective bank. ii) Calculate the regular payments for each bank loan if she prefers to settle the loan with a maximum of 6 years for both bank loan. (8marks)

a) Aiza plans to renovate her house for RM 300,000. She surveyed few banks and have shortlisted two banks to choose. CIMB provides her with 6% convertible semiannually with semiannual payments for a maximum of 9 years and Affin Bank provides her with 16% convertible quarterly with quarterly payments for a maximum of 8 years. Could you please help Aiza to: i) ii) Calculate the regular payments for each bank loan, using the maximum number of years for each respective bank. Calculate the regular payments for each bank loan if she prefers to settle the loan with a maximum of 6 years for both bank loan. (8 Marks)

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