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Calculate the monthly payment for house

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UMW Property Berhad has launched a new township in Shah Alam, Selangor that has an exclusive residence with strategic location. Briana received the invitation for the launched and she has interested in 2 types of linked house at Le Grandeur that cost of RM768,888 with 3,304 square feet for LG Sakura and RM788,888 with 3,675 square feet for LG Bourgenvilla. Both houses will be complete in the next 5 years. Briana plan to buy either one of the house in 5 years. The Agross Bank has offered 30 years mortgage with 9 percent interest rate per year for LG Sakura and 25 years mortgage with 8 percent interest rate per year for LG Bourgenvilla.

Problem 1: Calculate the monthly payment for both house and indicate which house should she purchase.

Reference no: EM132974188

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