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Interest rate calculation

By Topline, in Finance and Insurance

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Posted

Hi, 

Someone told me that I should take a higher mortgage loan on my property at interest rate of 1.3% p.a., cos I can use my excess cash to invest and anything I invest higher than 1.3%, eg 1.4%, I would have earned using the money the bank “lent” me on the mortgage loan.

Is this calculation right? If the mortgage loan is at 1.3% p.a, is that the effective rate? How to calculate effective rate? Thanks!

 

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