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Untitled Prezi

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Yuan Ni

on 23 April 2013

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Consumption Flat Buying A Two Choices:

"Mortgage Insurance Programme"

"Smart Easy" Top Up Mortgage CALCULATING SPOT 1. Lends 90% of the mortgage
2. fixed rate monthly repayment
3. Loan period 30yrs
4.Charges 1.65% of the mortgage amount at the first time
5. Charges 0.63% each year for the insurance. 1.The 70% of the mortgage will be the same as the "Mortgage Insurance Programme"
2.The remaining 20% of the mortgage will be charged 2.4% at the first 5yrs
3.And will be charged between Prime rate -1.95% to Prime rate-2.6% at the remaining 25yrs
4.A handling fee of 3.65% of the whole mortgage will be charged and transfer to the second mortgage immediately. "Mortgage Insurance Programme" P0=6 400 000 X 90%+6 400 000 X90%*1.65%-6 400 000X1%
(mortgage amount + 1st year insurance - cash discount )
n=12 X 30
(30yrs repay monthly)
(Prime rate-2.6%)
r= i^(12)/12

For l= 1,2,3...n
Il= P(l-1)X0.63% if l=12,24,…, 360
Il=0 if otherwise
Pl= P(l-1)X (1+r)-A+Il-1
Pn=0 =6400000*0.9-6400000*0.01+(6400000*0.9)*1.65% =B1 =B9*(1+$B$4)-$B$6+IF(MOD(A10;12)=0;B9*0.0063;0) OR PART 1 (20% OF THE LOAN)

(20% of the loan +handling fee)


For l =1,2,…,n

Q l =Q(l -1)*(1+r(A))-A1
Qn=0 PART 2
For l=1,2,...n
rl= 2.4%/12

(calculated from part1)

For l=1,2,...n
Q l =Q(l -1)*(1+r(A))-A1 If l <=60
Q l =Q(l -1)*(1+r(B))-A2 If otherwise
Qn=0 "Smart Easy" Top Up Mortgage A1 A2 total money paid total money paid =6400000*0.7 =B8*(1+$B$3)-$B$5 =6400000*0.2+6400000*0.9*3.65% =E8*(1+$E$3)-$E$5 =E1 =H8*(1+IF(G9<=60;$H$3;(RAND()*((3.05%)-(2.4%))+(2.4%))/12))-IF(G9<=60;$H$5;$H$6) Pengfei , a man who has worked in an IT company for 10 years , earns 60,000 HKD a month , is going to be married this year.
He wants to buy a new flat for his family. Mathematical model
mortgage part
p0=6400000 * 90%
ip= 5.250%
i12 = ip - 2.25%
r = i12 /12 T = 30
n = 30*12
for l = 1,2,...,n
pl = pl-1 *(1+ r) - A
pn = 0 A Another calculating spot! NOW,Consider that pengfei still has 1,000HKD after deducting 10% of minimum payment and in living
expenses . he wants to use these money for some investment!! 1.the plan3 offers the minimum p0 and total payment whereas the plan 2 offers the minimum monthly repayment
2.though the plan 3 seems to be the best chioce,in whole 30yrs, pengfei needs to put 3,600,000 into the savings account,which is not a small number. 1.IF pengfei can afford the loan 2 in 20 yrs , we suggest him choosing it

2. if couldn't, loan 2 in 20 is also a better choise than it in 30 yrs Group 13
Xu Peng Fei (12251054)
Ni Yuan (12250155)
Cheng Nan (12251208)
Tam Chi Leung (11014555)
Chan Pui Shan(10018700) savings part qn =C9*(1+IF(B10*0.5>C9,B$4,IF(AND(B10*0.5<C9,C9<500000),E$5,IF(AND(B10*0.5<C9,C9>500000),E$6,0))))+E$2 =6400000*90% =B9*(1+B$4)-B$5 $4,122,936.90 $9,435,978 $9,089,953
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