1) The sooner Matt pays off his student loans of $60,000, the sooner he may purchase a home. Assume that Matt has a fixed interest rate of 5% per annum on his student loan debt. Create a table in Excel with what his monthly and yearly payments will be if he pays the student loan debt off in each of the given time periods: 5, 10, 15, 20, 25 years.

2) Matt is anxious to purchase a home similar to his parent's home. Houses similar to his parent's home he expects will sell for $400,000 in the future. Assume a $20,000 down payment and use the following mortgage interest rates as a predictor of future rates (higher than current rates, considering past averages):

30-year fixed rate mortgage (FRM): 3.5%; 15-year FRM: 3.25%; 10-yearFRM: 3%.

Create a table in Excel showing the monthly and yearly house payments for each option listed above, and also provide a total amount paid under each alternative.

3) Matt desires to retire earlier than his normal retirement age for social security. Construct a matrix in Excel showing Matt's age when he will be debt free while showing the payment options from the previous work completed in Excel.

4) In a text box provide a brief determination as to what student loan monthly payment you deem is feasible for Matt, and why? What mortgage option might be best for Matt in the future, and why? Is it likely that Matt might be able to retire earlier than the normal retirement age for social security, and why? Keep all your answers extremely short and to the point, but base your decisions on the analysis you create in Excel.