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Calculate the monthly payment of the loan

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Reference no: EM133058198

Question - Bashir just get a new job in one of big company in Kuala Lumpur. He plans to buy a house for his own stay at Ixora Residence in Bandar Sri Permaisuri. Given price of the house is RM565,000 per unit. RHB bank offered mortgage at Base Rate (BR) 3.75 + 0.5 for 25 years. However, for the first year Bashir only affords to pay monthly payment of RM1,500. RHB bank has made an arrangement to follow Bashir affordability for first year.

Based on the above information:

i. Calculate the monthly payment of the loan.

ii. Prepare amortization table for four months based on new arrangement.

Reference no: EM133058198

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