JZ is purchasing a lorry for RM115,000. Financing options: 1. Bank loan: 6 years at 3.31%, monthly
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Question:
JZ is purchasing a lorry for RM115,000. Financing options:
1. Bank loan: 6 years at 3.31%, monthly installment. 90% available based on the road price. Road tax and takaful is RM5,175 to be paid out of pocket
2. Leasing: 6 years, monthly leasing payment is RM2,000, road tax and maintenance borned by lessor.
Question
1. Financing available is RM_________.
2. Total financing charge: RM___________
3. Monthly installment: RM___________
4. EAR: __________%
5. Total out of pocket payment is RM_________.
6. Option 2: Calculate the present value of the lease payment at 3.31% p.a.
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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