TABLE 6
FROM:
An economic analysis of a timeshare ownership
Atupele Powanga and Luka Powanga
BACK TO ARTICLETable 6. Purchasing a timeshare ownership using a mortgage contract
| Period ending | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| $ | $ | $ | $ | $ | $ | $ | $ | $ | $ | |
| Contract price | 18,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Closing costs | 421* | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Down payment | 1,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest payment | 2,216* * | 2,097 | 1,959 | 1,802 | 1,620 | 1,412 | 1,172 | 897 | 580 | 217 |
| Principal | 801* * | 920 | 1,058 | 1,216 | 1,397 | 1,605 | 1,845 | 2,120 | 2,433 | 2,800 |
| Maintenance fees | 833 | 833 | 833 | 833 | 833 | 833 | 833 | 833 | 833 | 833 |
| Club membership fees | 420 | 420 | 420 | 420 | 420 | 420 | 420 | 420 | 420 | 420 |
| Total cost | 6,491 | 4,270 | 4,270 | 4,270 | 4,270 | 4,270 | 4,270 | 4,270 | 4,266 | 4,270 |
| Cumulative costs | $44,918.96 |
* Marriott Vacations International Inc.
** Amortised at 13.99 per cent
