Task 1, Basic Mathematics, PPISMP Semester 1

7/27/2019 Task 1, Basic Mathematics, PPISMP Semester 1

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TASK 1

Ahmad has decided to purchase a new car for RM80000. After down payment of

30% , he will finance the remainder with a car loan. He has the option to get the

car loan from several banks. He don`t know to choose which of the bank deals

the most suitable for him. After down payment 30%,he pay for loan is RM56000.

My choice bank is Maybank and CIMB islamic bank. After analysis maybank and

CIMB Islamic Bank. My choice for him is CIMB Islamic Bank. My analysis is in

the next page.


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ANALYSIS

Types of

bank

Aspects

Comparison

Ambank CIMB Islamic Bank

The interest

rate

5.00% ( 12 months to 24

months ) to 5.50% ( 36 months

to 240 month )

4.88% ( 1year )

The monthly

payments

RM 5 108 ( 12 months ) to RM

506 ( 240 months )

RM 4 933 ( 12 months ) to RM

463 ( 240 months )


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CONCLUSION ANALYSIS

The best bank that I choose to Ahmad is CIMB Islamic Bank. That is

because it is reasonable and suitable for easier to pay and it not burden for him

to pay it. Reasonable for his price car that is RM80000, he pays about RM 463 (

for 240 months ).

Beside that,CIMB Islamic Bank have the lowest interest rate. That is

4.88% for a year. Different with Ambank that is 5.00% ( 12 months to 24months)

to 5.50% ( 36 months to 240 month ).

For the cost of the loan is RM 59 196 ( 12 months ) to RM 111 120 ( 240

months). this is other package that I see CIMB Islamic bank is easier to have the

loan. Like Ambank the package is RM 61 296 ( 12 months ) to RM 121 44O

(240months ).

That why I choose CIMB Islamic Bank to Ahmad for his loan car in the

bank.


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IPG Kampus Tawau, KM 36,

JLN. Balung, beg berkunci no. 27,

91009, Tawau, Sabah.

20 October 2010

Dear Ahmad

In your letter the next month ago,you want me to choose your option to get

the car loan from several banks. After read your letter, i ask several bank to get

the best loan for you.

I have make analysis about loan that offered by two bank that is Maybank

and CIMB Islamic Bank. After make the analysis, I think the bank that give best

deal for you is CIMB Islamic Bank. First, this bank offered the lowest interests

rate. The interest rate is about 4.88% for a year. This bank also offered the

smallest monthly payment. For example,this bank is offered RM805.00 for a

monthly. Besides that, this bank also prepared the best payment duration about

12 months ( 1 year ) up to 240 months ( 20 years ). Lastly, this bank also offered

the loan with lowest cost. For example, if you ask loan about RM 56 000 from this

bank and you choose payment duration for 240 months ( 20 years ), you have to

pay back the loan about RM 111 120 only.

That is my opinion for the choice bank that you will choose. I hope this tip

for the car bank loan can help you to choose this bank. You also can find another


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bank how to pay a monthly but this two bank is have their benefit but i choose

CIMB Islamic Bank. Lastly, thank you to you because send me a letter last week.

The landscape pictures that you send last week is very beautiful.

Thank you and see you soon.

Your friend,

..........................

Documents

Task 1, Basic Mathematics, PPISMP Semester 1