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Progressive interest calculation, How does it work?
TSRilakCorgi P
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Nov 17 2019, 07:24 PM, updated 5y ago
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New Member
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Hi guys.. May I know how the calculation for progressive interest works? Been reading materials I can find online but still blurry to me..
Below are the details I have:
SPA = 546,680 After 10% discount = 492,012 After 2% MOT = 481,078
Estimated completion = end of 2021
Reason is I'm trying to compare in the end how much I need to pay between sub sale and new project.
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hft
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Nov 17 2019, 07:27 PM
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Commercial or residential?
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TSRilakCorgi P
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Nov 17 2019, 08:44 PM
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New Member
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QUOTE(hft @ Nov 17 2019, 07:27 PM) Commercial or residential? Type: Service apartment, Commercial title
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hft
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Nov 17 2019, 09:46 PM
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QUOTE(RilakCorgi @ Nov 17 2019, 08:44 PM) Type: Service apartment, Commercial title Next variable is disbursement schedule, what is their plan? It’s different than residential property. They can even ask full payment as beginning of project phase. Depends on what is written in SPA.
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crayonhuat
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Nov 18 2019, 11:06 PM
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New Member
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the progressive interest you can estimated 4% of your loan amount and assume no project delays..
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