Q16.2 Consider a lifetime mortgage with monthly payments of 900 for 10 years. The interest rate is 6%. The current property value is 150,000 and it is expected that it will appreciate by 2% per annum. Assume that the mortgagor dies in 12 years. The equity share of the bank at that point is closest to Mar 43

Consider a lifetime mortgage with monthly payments of 900 for 10 years. The interest rate is 6%. The current property value is 150,000 and it is expected that it will appreciate by 2% per annum. Assume that the mortgagor dies in 12 years. The equity share of the bank at that point is closest to