To estimate the total interest for a $1.4 million new launch condo in Singapore over 3 years with a 75% loan-to-value ratio ($1.05 million loan) and a 2.60% fixed interest rate:
- Year 1: Interest on $140,000 = $3,640
- Year 2: Interest on $280,000 = $7,280
- Year 3: Interest on $350,000 = $9,100
Total interest: $19,920