5.

Assume

that

you

have

a

mortgage

at

6%

and

also

have

$6000

that

can

be

used

to

either

reduce

the

mortgage

or

to

invest

at

5%.

Should

you

(i)

reduce

your

mortgage

by

$6000

and

borrow

to

invest,

(ii)

invest

the

$6000,

or

(iii)

simply

reduce

the

mortgage

by

$6000?

Assume

that

you

have

a

mortgage

at

6%

and

also

have

$6000

that

can

be

used

to

either

reduce

the

mortgage

or

to

invest

at

5%.

Should

you

(i)

reduce

your

mortgage

by

$6000

and

borrow

to

invest,

(ii)

invest

the

$6000,

or

(iii)

simply

reduce

the

mortgage

by

$6000?

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