NHC Company Case Study - Buying a Car - Winning a Lottery - Financial Strategy - Income Tax - EPF - Finance Assignment Help

Assignment Task:

NHC Company Case Study Finance Assignment Help

Task Description:

You are a financial advisor for NHC Company and have been asked to provide a financial strategy for a client. Ms G. Ms G came to see you and your team members in 2016 and the client was 35 years old then. She sought for your financial advice in deciding on certain matters. listed below, as she plans to retire in 15 years' time. 

Task 1: Buying a car 

When she met you in 2016, she wanted to buy a brand new car for  •• but could only afford a down payment of RM 5 000. She decided to take a loan to finance the balance of the amount. She was offered loans from two different banks; Bank POR offered an interest rate of 4.5% compounded monthly for a tenure of 7 years and Bank XYZ offered an interest rate of 5.55% compounded monthly for a tenure of 5 years. She needed your advice on the matters to betow.

• Which bank offer should she take?

• Assuming that she has chosen one of the banks above: How would it affect her if she:

• paid an extra RM 200 per month from the first payment onwards?

• shorten the loan payment time to 3 years without paying the extra RM 200 monthly? 

As a financial consultant. you will have to write a report to summarize the results from your analysis and make appropriate recommendations for Ms G based on your findings. 

Task II: Winning a lottery 

Ms G was very happy with your advice previously and came to see you again in 2019. She has been working for 13 years now and will retire n another 12 years. Her salary (after paying for income tax and EPF) is RM 60000 per year and she spends RM 2150 per month on Irving expenses etc. For the past 13 years. she has been saving the rest of the money in Bank BB monthly. where she gets an interest rate of 3.25% per annum compounded monthly and mil continue doing so until she retires. In addition. she won a lottery worth RM 1.2 maim. recently and wants to invest this money too. She is thinking of three investment options for the next 12 years and seeks your advice on deciding the best option: 

• To save the entire RIM 1.2 million in another saving account in Bank BB at an interest rate of 4% per annum until she retires.

• To invest the lottery money in a company that offers her an interest rate of 3.25% compounded annually.

• To buy a property that cost RM. She will use all her lottery money as the down payment. She hopes to take a loan for the balance of the amount for 12 years after which she plans to set the property (Assuming that BB bank will agree to give her the loan at an interest rate of 2.5% compounded monthly). As soon as she buys the property. she plans to rent the property for WA 2500 per month for the next 12 years. Based on the inflation rate and booming property prices, the property is expected to be worth RM 5 million by the time she retires. 

Make appropriate recommendations and write a report for Ms G on your findings of her savings. 

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