Presently, they are residing in a double-storey bungalow in Sungai Long which was purchased by Kassim 14
Question:
Presently, they are residing in a double-storey bungalow in Sungai Long which was purchased by Kassim 14 years ago. He bought this house using an RM1,000,000 Islamic home financing plan attached with Mortgage Reducing Term Takaful (MRTT) for 20 years at 8% profit rate per
Question 1 : What is the monthly repayment and its remaining balance for 6 years ?
As a Chief Financial Officer (CFO) of Manjung Tin Company (MTC), Kassim is currently enjoying a lucrative remuneration package for his position; a salary of RM20,000 per month and the salary is expected to grow at 4% per year. For retirement purpose, he currently contributes 11% of his salary to Employee Provident Fund (EPF) while the company contributes 12%. His current EPF balance is RM300,000.
Question 2 : How to calculate salary growth after 10 years ?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill