Steve,
I just purchased your ‘Buyer Beware’ package and I would like to say that it is fantastic.However, I refer to the answers for the Cairns Beach Resort case study and I am stuck as to how you worked out the repayments per week for the loan? I sat here for about an hour and tried to work it out about several different ways but to no avail. Could you please help me?
I would also like to point out that in the booklet in your answers for the first case study ‘123 Ajax St, Smithville’, that I think you may have miscalculated the Total Annual Mortgage and Interest Repayments. If you multiply the $62.54 by 52 then the answer I ended up with is $3252.08 whereas your total was 3252.21 which would be a weekly repayment of $62.5425.
I know it is only just a silly little issue, however I thought I would let you know in case you wanted to know, or on the other hand I could be just completely mathematically illiterate and should go and bury my head in the sand for a few weeks.
I think you are a genius, including Dave and I have thoroughly enjoyed your book and everything else I have bought from you.
Jacktar[^]
Steve,
Are you on holidays Steve or is it a silly question with an obvious answer?Jack
Jacktar,
Did you work out your repayments in advance or in arrears?
I havent got my financial calculator handy, but I reckon that is where the difference lies….
Cairns Beach Resort is a tricky case study, but the sums are not so important if they add up 100% (which I’m sure they do), it is the message behind it..
Good luck,
Del
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