# Thread: Interest and monthly repayment help!! Urgent plz...

1. Originally Posted by tom_asian
Hello.~~

I still cant work out how to do with qus c.

My savings is $29, 013. I have taken the application fee from my savings which my new savings is: Bec's Bank Kaitlyn$29 013 - 600 = $28413$29013 - 0 = $29013 The list of loan amounts are: Bec bank Kaitlyn L 15 yrs -$162 444 .48
L 20 yrs - $190 744 .89 L 25 yrs -$211 471 .08

Kaitlyn
L 15 yrs - $161 437 .22 L 20 yrs -$ 189 275 .87
L 25 yrs - $209 547 .15 Could you please help me get around this problem as i dont know what to do next. Could you please provide an example with one set of working out so i can analyse it and see what is going on so i can work out the others, Thanks so much for your help Bec 25y is the largest loan amount, but needs a 10% deposit so to take this loan your savings after removal of any fees must be greater than$21147
(it is I am reading things correctly).

RonL

2. Originally Posted by CaptainBlack
Bec 25y is the largest loan amount, but needs a 10% deposit so to take this
loan your savings after removal of any fees must be greater than $21147 (it is I am reading things correctly). RonL Could you please help me with another question, sorry. Well i have calculated my maxmimum loan amount to be$240491.08. Now i wish to buy a house that cost $220,000. Determine the loan amount to be borrowed and then calculate the required monthly repayments for your chosen time period. Use Bec's bank 25 years. Thanks so much for your help~~~ 3. Originally Posted by tom_asian Could you please help me with another question, sorry. Well i have calculated my maxmimum loan amount to be$240491.08. Now i wish to buy a house that cost \$220,000.

Determine the loan amount to be borrowed and then calculate the required monthly repayments for your chosen time period. Use Bec's bank 25 years.

Thanks so much for your help~~~
Other things being equal (repaymeent period and interest rate) the payments
are proportional to the amount borrowed (that is: house price - deposit). You
know the repayments for the maximum loan, so you just need to scale them
down for the new loan.

RonL

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