Assignment 1 Complete the following assignment and submit your work to the dropbox. Before you upload your file, ensure your name appears on the top of every page of your document and that all calculations have been double checked. Sarah and Elias purchase their first house. The selling price is $150000 and they make a $10000 down payment. Their bank offers them a rate of 5.8%/a compounded monthly and their monthly payments will be $1100. Build an amortization table to show their first five months of payments. This is a disclaimer. External Resources will open in a new window. Not responsible for external content MIUMVUA. Before you upload your file, ensure your name appears on the top of every page of your document. 1. Find an advertisement for a house or condominium that costs less than $150 000. Using either the formula or your graphing calculator, determine the monthly payments. The bank offers you a rate of 5.7%/a compounded monthly and amortized over 25 years as long as you make a down payment of at least 5%. 2. Calculate and add up all of the initial estimated costs involved in purchasing a new home (i.e., moving truck, land transfer taxes, lawyer fees, etc.) 3. If you were 22 years old, attending your final year of college, and working a part time job earning $1200 per month, would you rent or buy? Explain your reasoning (consider down payment, risk of repairs needed, your age, etc.) his is a disclaimer. External Resources will open in a new window. Not responsible for external content. BI ENG 9:1 2020 Assignment 1 Complete the following assignment and submit your work to the dropbox. Before you upload your file, ensure your name appears on the top of every page of your document and that all calculations have been double checked. Sarah and Elias purchase their first house. The selling price is $150000 and they make a $10000 down payment Their bank offers them a rate of 5,8%/a compounded monthly and their monthly payments will be $1100. Build an amortization table to show their first five months of payments. Assignment 1 Complete the following assignment and submit your work to the dropbox. Before you upload your file, ensure your name appears on the top of every page of your document and that all calculations have been double checked. Sarah and Elias purchase their first house. The selling price is $150000 and they make a $10000 down payment. Their bank offers them a rate of 5.8%/a compounded monthly and their monthly payments will be $1100. Build an amortization table to show their first five months of payments. This is a disclaimer. External Resources will open in a new window. Not responsible for external content MIUMVUA. Before you upload your file, ensure your name appears on the top of every page of your document. 1. Find an advertisement for a house or condominium that costs less than $150 000. Using either the formula or your graphing calculator, determine the monthly payments. The bank offers you a rate of 5.7%/a compounded monthly and amortized over 25 years as long as you make a down payment of at least 5%. 2. Calculate and add up all of the initial estimated costs involved in purchasing a new home (i.e., moving truck, land transfer taxes, lawyer fees, etc.) 3. If you were 22 years old, attending your final year of college, and working a part time job earning $1200 per month, would you rent or buy? Explain your reasoning (consider down payment, risk of repairs needed, your age, etc.) his is a disclaimer. External Resources will open in a new window. Not responsible for external content. BI ENG 9:1 2020 Assignment 1 Complete the following assignment and submit your work to the dropbox. Before you upload your file, ensure your name appears on the top of every page of your document and that all calculations have been double checked. Sarah and Elias purchase their first house. The selling price is $150000 and they make a $10000 down payment Their bank offers them a rate of 5,8%/a compounded monthly and their monthly payments will be $1100. Build an amortization table to show their first five months of payments