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5 Pages • Essays / Projects • Year: Pre-2021
The aim of this assignment is to draw out a plan to see whether I am able to afford to purchase a first home or not. By using available information, I can calculate the amount of monthly repayment and annual savings to pay for the debt, then find out if they are affordable. While drawing out the future plan to estimate if I have an ability to pay for the loan, some risks will appear in relation to purchase a house. There are two risks I might face that are income and interest rate earned on savings change. These risks will be outlined and discussed; in addition, some actions will be suggested to cope with the risks as well.
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