CAR LOAN SCHEME

For his necessary, Ahmad had bought Proton Satria GTi 1.8 with cost RM

48,900.00. So he made a loan from Bumiputra Commerce Bank (BCB). Below

are the calculation of the schemes for Ahmad’s car:

BCB BANK LOAN:

 92 % from price purchase ( principal )

 8 % deposit from buyers

 Monthly installment : (principal x rate x period ) + principal

Repayment period

Proton Satria GTi (1.8)

Price:RM 48,900

Principal:

92% x RM48,900.00
=RM 44,988.00

Rate:2.5%

Repayment period:7years(84 month)

So,
(RM 44,988.00 x 2.5% x 9 years)+RM 44,988.00
84 month

=RM 656.08

7
 HOUSING LOAN SCHEME

Roslan and his wife also decided to buy a comfortable apartment for their
family. So, they had choused Taman Tasik house located in Bandar Tasik. For
the housing loan, they had choused to make a lone with Bank Islam. Below is the
2 method and the calculation of the scheme for their apartment;

M = Z x (1+TR)
Original Amount = Z
Number of years = T
Amount after t years = M
Annual interest rate in % = r
Interest after years = A – P
A = RM 68388.00 x [1+ (20x7.30)]
= RM 100,530.36

It was a simple interest calculation that Roslan had made. The total amount that he
must pay using this method is RM 100,530.36

8
 Below is the compound interest of Roslan’s housing loan with Bank Islam.
We can calculate it with many ways and the method has been given such as
below:

Principal x interest rate x number of time per year the

interest is compound

Year 1 = RM 68, 388 x 7.3% x 1 = RM 4992.32

Year 2 = (RM 68388 + RM 4992.32) x 7.3% x 1 = RM 5356.76
Year 3 = (RM 73380.32 + RM 5356.76) x 7.3% x 1 = RM 5747.81
Year 4 = (RM 78737.08 + RM 5747.81) x 7.3% x 1 = RM 6167.40
Year 5 = (RM 84484.89 + RM 6167.40) x 7.3% x 1 = RM 6617.61
Year 6 = (RM 90652.29 + RM 6617.61) x 7.3% x 1 = RM 7100.70
Year 7 = (RM 97269.90 + RM 7100.70) x 7.3% x 1 = RM 7619.05
Year 8 = (RM 104370.60 + RM 7619.05) x 7.3% x 1 = RM 8175.24
Year 9 = (RM 111989.65 + RM 8175.24) x 7.3% x 1 = RM 8772.04
Year 10 = (RM 120164.89 + RM 8772.04) x 7.3% x 1 = RM 9412.40
 9

Year 11 = (RM 128936.93 + RM 9412.40) x 7.3% x 1 = RM 10099.50

Year 12 = (RM 138349.33 + RM 10099.50) x 7.3% x 1 = RM
10836.76
Year 13 = (RM 148448.83 + RM 10836.76) x 7.3% x 1 = RM
11627.85
Year 14 = (RM 159285.60 + RM 11627.85) x 7.3% x 1 = RM
12476.70
Year 15 = (RM 170913.45 + RM 12476.70) x 7.3% x 1 = RM
13387.50
Year 16 = (RM 183390.15 + RM 13387.50) x 7.3% x 1 = RM
14364.80
Year 17 = (RM 196777.65 + RM 14364.80) x 7.3% x 1 = RM
15413.40
Year 18 = (RM 211142.42 + RM 15413.40) x 7.3% x 1 = RM
16538.60
Year 19 = (RM 226555.82 + RM 16538.60) x 7.3% x 1 = RM
17745.90
Year 20 = (RM 243094.40 + RM 17745.90) x 7.3% x 1 = RM
19041.34
TOTAL = RM
211493.68