Calculate amount repayable to the bank

Reference no: EM132650981

Question 1: Mr Ismail borrowed a sum of RM 130,000 to buy a property on the following terms. Rate of interest (yield rate) =6.5%; Loan years 20; Repayable monthly for 240 months. He regularly repaid the loan already for 140 months. Now he has a huge sum of money from his grand father, which he wants to utilize it for making balloon payment of this loan. Calculate amount repayable to the bank, if the bank agreed for this proposal.

Reference no: EM132650981

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