How much does chen have available to purchase portfolio

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Reference no: EM131992892

a. Steve pays 5.27% interest on a mortgage of $710,000. His gross income is $134,000 p.a. plus super of $8,000. His taxation and Medicare liability totals $15,000 pa. Calculate Steve’s debt service ratio (to the nearest percentage point).

b. Chen has $119,000 of his own money to invest. He has a margin loan available to add to this money to purchase Australian shares. The bank’s loan-to-value ratio (LVR) is 86%. How much does Chen have available to purchase a portfolio?

Reference no: EM131992892

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