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1. Mortgage Rate or Annual Percentage Rate (APR) Please enter your annual mortgage rate as: a. A number within value range of 1-25. b. Note: 6% is a default value. 2. Outstanding Mortgage Principal Please enter the current balance of your outstanding mortgage principal as: a. A number within the range of 1-999999. b. Note: $ 150,000 is a default value. 3. Mortgage Payment Please enter your regular monthly instalment / payment (excluding property taxes) as: a. A number within the range of 1-99999. b. If you are currently making bi-monthly, weekly or bi-weekly mortgage payments, please estimate and enter the monthly value of these payments, i.e. bi-monthly X 2, (Weekly X 52) / 12, (bi-weekly X 26) / 12 etc... c. The default value is calculated using the Mortgage Rate (1), the Outstanding Principal (2) and is based on a 25 year amortization period, i.e. $ 960 is the estimated monthly mortgage payment for an outstanding principal amount of $ 150,000, assuming a mortgage rate of 6% and a 25 year amortization period. d. NOTE: If you had entered a value in this field and subsequently changed or edited the Mortgage Rate (1) and / or Outstanding Principal (2), this field will revert back to the default calculated value and you will need to re-enter the information you previously provided. 4. One-time Payment Please enter a one-time annual amount which you wish to use to pay-down your mortgage or to contribute to your RRSP as: a. A value greater than zero in the extra lump sum field. b. A number within the range of 1-99999. c. Note: $ 5000 is a default value. 5. Extra Monthly Payments Please enter a monthly amount of money available to increase your mortgage payment or to contribute to a RRSP account as: a. A value greater than zero in the extra monthly payments field. b. A number within the range of 1-99999. c. Note: $ 100 is a default value. 6. Investment Return or Rate of Return Please enter a reasonable rate of return that you expect to earn on your RRSP investments as: a. A number within the range of 1-25. b. The default value is calculated as Mortgage Rate + 2 (%) to a maximum of 25% (the upper range limit). c. NOTE: If you had entered a value in this field and subsequently changed or edited the Mortgage Rate (1) this field will revert back to the default calculated value and you will need to re-enter the value you previously provided. 7. Marginal Tax Rate (MTR) Please select the marginal tax rate applicable to you from the drop-down list sorted by Province and Income Range. a. Note: The default value is the corresponding MTR of the first province and income range starting in alphabetical and ascending order.
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