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How much would en baki need to pay monthly

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En. Baki is 28 years old and an executive in a private company earning an annual income of RM78,000. He plans to purchase a house. He has already saves RM50,000 and have no other obligations. He plans to buy a house that cost him RM400,000. The bank is offering an interest of 5% for the entire loan tenure.

Problem 1: How much would En. Baki need to pay monthly?

Problem 2: Is En. Baki eligible to purchase the property?

Reference no: EM133004549

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