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Your father needs financial guidance on saving for a house and he decides to hire you as his financial advisor. Your family annual income is 6,000,000 $. Given that annual income he tells you that he can afford to spend 30% of this family income on mortgage payments. He wants to buy a house costing 22,000,000 $, three years from now. After doing extensive research from a number of financial providers your financial advice to him is that he is able to get a 30- year fixed rate mortgage at 10%. Your family has 2,000,000$ which earns 8% compounded monthly. Your father can make additional monthly payments to savings, also earning 8%.
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How much must he save each month to get the appropriate down payment?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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