Jacob owns an investment apartment paid in 2015 for $400,000 and is no valued at $500,000. There
Fantastic news! We've Found the answer you've been seeking!
Question:
Jacob owns an investment apartment paid in 2015 for $400,000 and is no valued at $500,000.
There is a net income of $15,000.
On 1/9/2019, Jacob has a interest mortgage with ANZ bank for $350,000 remaining at 4.5% interest, however this interest was only fixed for one year and interest is now at variable rates.
Monthly repayments are $9000 a month.
Current Inflation Rate is 6.8% and cash rate is 3.35%
How long would it take for Jacob to pay off his mortgage?
Expert Answer:
Introduction Jacobs investment apartment purchased in 2015 for 400000 has appreciated to 500000 with a net income of 15000 Jacob holds a mortgage with ... View the full answer
Related Book For 
Posted Date:
