Which mortgage? using a model to choose it

Article Abstract:

A model for determining the relative merits of endowment and repayment mortgages is developed. A microcomputer and spreadsheet program can be used to analyze the two types of mortgages. The data required to calculate the present value of mortgage cash flows are the sum borrowed, the amount of each payment, the number of payments, terminal benefits, and the opportunity cost of the capital. The nominal basis of the mortgage rate must be converted to a real rate before the calculations are made, and a sensitivity analysis should be performed on the results after the calculations are made.

Methods, Models, Finance, Real estate, Real property, Mortgages

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Hall of fame

Article Abstract:

The Institute of Chartered Accountants will celebrate the 100th anniversary of the laying of the foundation stone of its headquarters, the Chartered Accountants Hall, in July 1990. The formal opening of the Hall, which was begun in July 1890, was in May 1893, and the Hall has since been adapted and extended to provide the Institute with more room for its members and to increase the office space of its administrative staff. The Hall, a landmark of architecture located at Moorgate Place in London's financial district, was designed by John Belcher.

United Kingdom, Institute of Chartered Accountants in England and Wales, Buildings and facilities, Buildings, Great Britain

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When small means successful

Article Abstract:

Begbies is a small, independent accounting firm in London. It was established by George Begbie in 1837, and Begbies is believed to be the oldest accounting firm in continuous existence which still uses the founder's name on its letterhead. In the firm's 150 years of existence, there have been only 17 equity partners in the firm, and the most partners at any one time has been six. Begbies is unusual in that most small firms either become large or are taken over by larger firms. Begbies specializes in insolvency work.

Management, Practice, Accounting firms, Accounting services, Begbies

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