Jakob received a $1,000 a year raise in January, sold stocks in March for $6,000 that were originally purchased for $4,000, and in July had a $100 monthly increase in mortgage payments on his adjustable rate mortgage
The increased mortgage payment started in July and was in effect for the remainder of the year. What was the total impact on Jakob's cash flow for the year?
A) $1,000
B) $5,400
C) $6,400
D) $7,600
Answer: C
Explanation: C)
Raise $1,000
Sale of stock $6,000
Increased mortgage payments (600)
Net cash inflows $6,400
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