How to calculate amount repayable to the bank

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Reference no: EM132650998

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.

Question 1: Calculate amount repayable to the bank, if the bank agreed for this proposal.

Reference no: EM132650998

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How to calculate amount repayable to the bank : Calculate amount repayable to the bank, if the bank agreed for this proposal. Mr Ismail borrowed a sum of RM 130,000 to buy a property.

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