Basic Math
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- Words: 1,467
- Pages: 13
Content •
Appreciation
•
Content
•
Task
•
Monthly payment
•
List of personal loan provided and the monthly payment
•
Decision
•
Reflection
Introduction
As the normal human, we are always need money and more money from day to day. So how are we going to find that money? Are we going to find ‘ah long’ and ask to borrow money from them? Perhaps not. Actually the are many banks in Malaysia, why don’t we go to the banks and ask for the loan? Here I want to suppress that the best way to have instant money is……just make a loan from the bank. It’s has low rate interest and safer from the ‘ah long’.
The are several bank that provide personal loan or car loan for those who want to have car or to have instant money in just few moment. The example of bank that provide this type of service is Agro Bank, Bank Islam, HSBC Bank, and many more. But here there are several different among the bank, such as the interest rate, the requirement and qualification to make any loan. As the conclusion, I had been went to the bank and make some research about the loan scheme provided. And lastly I have made my own decision about which loan I will chose for me to use in my life. Lets go through this book and discover the truth.
Monthly payment I have made my own decision, I want to make a personal loan to open my own shop. Then, before anything happen, I need to calculate my monthly budget: Aspect Fuel for vehicle Bill payment Hand phone Food Parents Savings
Budget RM 50 RM25 RM20 RM70 RM200 RM150
Based on my monthly salary, RM2000, I will calculate how much my money left after all the monthly budget were deducted from my salary. Salary : RM2000 Monthly budget: RM50 +RM25 +RM20 +RM70 +RM200 +RM150 =RM165 That means my monthly salary will left after all expenses is: RM2000 –RM555 =RM1445
Based on above table and calculation, I earn my salary permanently for every month is RM1445.
Chart of monthly payment
Type of personal loan scheme provided by bank and the annual interest
Bank Islam: Bank Islam only give a person to make any loan up to 15 times monthly salary. My monthly salary is RM2000, so I can m make personal loan until RM30 000. If I make personal loan with this bank the schedule of payment as the follow: Amount of loan RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000
Year taken to pay loan 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Interest 4.1% 4.1% 4.1% 5.6% 5.6% 5.6% 5.6% 5.6% 5.6% 5.6% 5.6% 5.9% 5.9% 5.9% 5.9%
Amount RM2602.50 RM1352.50 RM935.83 RM765.00 RM640.00 RM556.67 RM497.14 RM452.50 RM417.78 RM390.00 RM367.27 RM348.33 RM339.81 RM326.07 RM314.17
So if I choose to make a personal loan with this bank, I only need to pay only RM 314.17 for each month for 30 years. It is quite cheaper but I will look up to another bank about their package of personal loan.
Rhb bank. This bank provide me a package of personal loan which I think is reasonable and I can afford it. Then lets see about the package provided. This bank only provide the repayment schedule for 5 years or 60 month only. Amount of loan RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000
Month 12 18 24 30 36 42 48 54 60
Interest rate 11.74% 11.63% 11.66% 11.76% 11.88% 12.01% 12.16% 12.31% 12.46%
Amount to pay RM 2327.74 RM1631.32 RM1284.64 RM1035.11 RM904.20 RM811.69 RM743.18 RM690.64 RM649.28
According to this bank scheme, If I make a loan about RM25 000, I need to pay about RM649.28 for every month for 5 years. It is quite expensive but it won’t take long time.
Maybank : Financing amount RM 30 000 RM 30 000 RM 30 000
Monthly installment 2 years 3 years 4 years
RM1438 RM1021 RM813
RM 30 000
5 years
RM688
This is the last bank I went to ask about the personal loan provided. After a long discussion, lastly I get a little knowledge about them.
From the table above, I can see that the amount charged for this bank is quiet high and I still can afford it and I need to pay RM688 a month for 5 years, but I need to choose the best bank that give me the best solution for my problems.
Final result
After I had make a lot of calculation and study about the personal loan offered by the bank, lastly I would like to choose bank Islam as the bank to make my loan.
Besides that, as a Muslim we should try our Muslim bank to make us stronger. Other than that, I will choose schedule for payment in 30 years. I will open my own shop, so I think I can maintain in gaining a constant profit for my shop every month. If I take 30 years to pay back to the bank, I only need to pay about RM314 for each month. It is not so expensive I think.
have about RM1131 to spend for each month. Look like too much right? But it is better to prepare before something could happen such as my car goes to trouble, my mother sick and any more. We should expect the unexpected. I think bank Islam were give me the best solution for my problem and I hope my wish to open my own grocery shop will achieve.
As the conclusion, once again I conclude that I will choose bank Islam as the bank to make my loan.
REFLECTION
In order to complete the task given, there are many challenge I have to face. Mostly nowadays bank provided very high interest for personal loan. They also ask me,’ what do you want to do with that money’. And I answered that I want to open my own shop. After that they will look at me like there are something I did wrong, until now I still don’t know why.
Before this, I actually want to make a car loan but seem that I already have a car so I think it is not compulsory for me to buy another car. I think it is better to open a shop because it will give me a constant value of profit. If I buy a new car my monthly expenses will increase because maybe I will buy a new car which is more faster and need more fuel to move.
After searching, I found 3 bank that give me best personal loan ever, bank Islam, Rhb bank and Maybank. I also see that different bank give different rate of interest, so I need to make a very good decision from make a loan. I was went to every bank at Batu Pahat to make research about this.
Besides I go around Batu Pahat, I also go to Mersing to ask about the personal loan. There I go to Bank Simpanan Nasional, Agro Bank, Public Bank, CIMB Bank and many more. With the task I had done I hope for those who want to make a loan to start their business can refer to this.
Bibliography •
BANK SIMPANAN NASIONAL
•
MAYBANK
•
CIMB BANK
•
BANK ISLAM
•
RHB BANK
Appreciation
Thanks to God Almighty, because of him I could done my task successfully without any obstacle. I hope that my work will make my lecturer satisfied and automatically this can help me to get high mark.
Besides, I would like to thank my lecturer, Puan Fazidah binti Jonid who had taught and shows a way for me to complete this task completely. She also like to help her students when they comes for her helps.
Next, I also want to thanks to my parents because give me material and moral support and also provide me some items and equipment to complete this task.
Not to be forgetting, I would like to thank to my friends who helped me during completing this task, thanks for their commitment and for all their cooperation.
Hopefully for those who read this task will happy and understand what actually I want to express in this task. Lastly I hope people who want to start their own business can make this book as their guide.
Thank you.
TUN HUSSEIN ONN TEACHER INSTITUTE BATU PAHAT
BASIC MATHEMATICS
PERSONAL LOAN
NAME:ZULKIFLI BIN ROTHMANS I/C NO:910909-01-6737
CLASS:PA/BI/BA LECTURER:PUAN FAZIDAH BINTI JONID DUE DATE:21st AUGUST 2009
Appreciation
•
Content
•
Task
•
Monthly payment
•
List of personal loan provided and the monthly payment
•
Decision
•
Reflection
Introduction
As the normal human, we are always need money and more money from day to day. So how are we going to find that money? Are we going to find ‘ah long’ and ask to borrow money from them? Perhaps not. Actually the are many banks in Malaysia, why don’t we go to the banks and ask for the loan? Here I want to suppress that the best way to have instant money is……just make a loan from the bank. It’s has low rate interest and safer from the ‘ah long’.
The are several bank that provide personal loan or car loan for those who want to have car or to have instant money in just few moment. The example of bank that provide this type of service is Agro Bank, Bank Islam, HSBC Bank, and many more. But here there are several different among the bank, such as the interest rate, the requirement and qualification to make any loan. As the conclusion, I had been went to the bank and make some research about the loan scheme provided. And lastly I have made my own decision about which loan I will chose for me to use in my life. Lets go through this book and discover the truth.
Monthly payment I have made my own decision, I want to make a personal loan to open my own shop. Then, before anything happen, I need to calculate my monthly budget: Aspect Fuel for vehicle Bill payment Hand phone Food Parents Savings
Budget RM 50 RM25 RM20 RM70 RM200 RM150
Based on my monthly salary, RM2000, I will calculate how much my money left after all the monthly budget were deducted from my salary. Salary : RM2000 Monthly budget: RM50 +RM25 +RM20 +RM70 +RM200 +RM150 =RM165 That means my monthly salary will left after all expenses is: RM2000 –RM555 =RM1445
Based on above table and calculation, I earn my salary permanently for every month is RM1445.
Chart of monthly payment
Type of personal loan scheme provided by bank and the annual interest
Bank Islam: Bank Islam only give a person to make any loan up to 15 times monthly salary. My monthly salary is RM2000, so I can m make personal loan until RM30 000. If I make personal loan with this bank the schedule of payment as the follow: Amount of loan RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000 RM 30000
Year taken to pay loan 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Interest 4.1% 4.1% 4.1% 5.6% 5.6% 5.6% 5.6% 5.6% 5.6% 5.6% 5.6% 5.9% 5.9% 5.9% 5.9%
Amount RM2602.50 RM1352.50 RM935.83 RM765.00 RM640.00 RM556.67 RM497.14 RM452.50 RM417.78 RM390.00 RM367.27 RM348.33 RM339.81 RM326.07 RM314.17
So if I choose to make a personal loan with this bank, I only need to pay only RM 314.17 for each month for 30 years. It is quite cheaper but I will look up to another bank about their package of personal loan.
Rhb bank. This bank provide me a package of personal loan which I think is reasonable and I can afford it. Then lets see about the package provided. This bank only provide the repayment schedule for 5 years or 60 month only. Amount of loan RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000 RM 25 000
Month 12 18 24 30 36 42 48 54 60
Interest rate 11.74% 11.63% 11.66% 11.76% 11.88% 12.01% 12.16% 12.31% 12.46%
Amount to pay RM 2327.74 RM1631.32 RM1284.64 RM1035.11 RM904.20 RM811.69 RM743.18 RM690.64 RM649.28
According to this bank scheme, If I make a loan about RM25 000, I need to pay about RM649.28 for every month for 5 years. It is quite expensive but it won’t take long time.
Maybank : Financing amount RM 30 000 RM 30 000 RM 30 000
Monthly installment 2 years 3 years 4 years
RM1438 RM1021 RM813
RM 30 000
5 years
RM688
This is the last bank I went to ask about the personal loan provided. After a long discussion, lastly I get a little knowledge about them.
From the table above, I can see that the amount charged for this bank is quiet high and I still can afford it and I need to pay RM688 a month for 5 years, but I need to choose the best bank that give me the best solution for my problems.
Final result
After I had make a lot of calculation and study about the personal loan offered by the bank, lastly I would like to choose bank Islam as the bank to make my loan.
Besides that, as a Muslim we should try our Muslim bank to make us stronger. Other than that, I will choose schedule for payment in 30 years. I will open my own shop, so I think I can maintain in gaining a constant profit for my shop every month. If I take 30 years to pay back to the bank, I only need to pay about RM314 for each month. It is not so expensive I think.
have about RM1131 to spend for each month. Look like too much right? But it is better to prepare before something could happen such as my car goes to trouble, my mother sick and any more. We should expect the unexpected. I think bank Islam were give me the best solution for my problem and I hope my wish to open my own grocery shop will achieve.
As the conclusion, once again I conclude that I will choose bank Islam as the bank to make my loan.
REFLECTION
In order to complete the task given, there are many challenge I have to face. Mostly nowadays bank provided very high interest for personal loan. They also ask me,’ what do you want to do with that money’. And I answered that I want to open my own shop. After that they will look at me like there are something I did wrong, until now I still don’t know why.
Before this, I actually want to make a car loan but seem that I already have a car so I think it is not compulsory for me to buy another car. I think it is better to open a shop because it will give me a constant value of profit. If I buy a new car my monthly expenses will increase because maybe I will buy a new car which is more faster and need more fuel to move.
After searching, I found 3 bank that give me best personal loan ever, bank Islam, Rhb bank and Maybank. I also see that different bank give different rate of interest, so I need to make a very good decision from make a loan. I was went to every bank at Batu Pahat to make research about this.
Besides I go around Batu Pahat, I also go to Mersing to ask about the personal loan. There I go to Bank Simpanan Nasional, Agro Bank, Public Bank, CIMB Bank and many more. With the task I had done I hope for those who want to make a loan to start their business can refer to this.
Bibliography •
BANK SIMPANAN NASIONAL
•
MAYBANK
•
CIMB BANK
•
BANK ISLAM
•
RHB BANK
Appreciation
Thanks to God Almighty, because of him I could done my task successfully without any obstacle. I hope that my work will make my lecturer satisfied and automatically this can help me to get high mark.
Besides, I would like to thank my lecturer, Puan Fazidah binti Jonid who had taught and shows a way for me to complete this task completely. She also like to help her students when they comes for her helps.
Next, I also want to thanks to my parents because give me material and moral support and also provide me some items and equipment to complete this task.
Not to be forgetting, I would like to thank to my friends who helped me during completing this task, thanks for their commitment and for all their cooperation.
Hopefully for those who read this task will happy and understand what actually I want to express in this task. Lastly I hope people who want to start their own business can make this book as their guide.
Thank you.
TUN HUSSEIN ONN TEACHER INSTITUTE BATU PAHAT
BASIC MATHEMATICS
PERSONAL LOAN
NAME:ZULKIFLI BIN ROTHMANS I/C NO:910909-01-6737
CLASS:PA/BI/BA LECTURER:PUAN FAZIDAH BINTI JONID DUE DATE:21st AUGUST 2009
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