What is Income weighted average age IWAA
To determine what is the combine loan tenure for the married couple.
A age 30 earns $7,000
B age 35 earns $4,000
( 30 x $7k ) + ( 35 x $4,000 )/ $11,000
= 32 average age
IWAA = 65 years - 32 age = 32 years
The younger age income higher than the older age can have a longer loan to tenure