Question 1196310: Please help with the homework
Edgar a dynamic young executive, calculated, that Edgar can sell his house so as to have R180000.00 as a deposit for a new house. The price that the seller is willing to accept for Edgar's dream house is R760000, to this R760000, Edgar will have to add on extra R52000 as estate agent duties, transfer fees and the premium on an insurance policy that will cover the outstanding principal owed at Edgar's death. Edgar's company will pay him a housing subsidy of R1700 per month and also sufficient leverage to secure him the necessary mortgage bond at 18% p.a. Compounded monthly for a period of 20 years. Assuming that Edgar is, for the next few years, willing to commit himself to a third of his gross monthly salary of R21000 towards house mortgage bond repayment. Would you advise him to buy the house or not? Give reason for your answer
Answer by ikleyn(52776)   (Show Source):
You can put this solution on YOUR website! .
Hello, at this forum, our goal is to help students in their Math assignments.
It is not our goal or focus to make financial analyses for you or to give financial advises.
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