Calculato Net Worth from londer perspective Number (1 mark) In reviewing their current financial situation, you would recommend that the Hamiltone niso consolidate their consumer debts along with their renovation request Calculate the consolidation loan at 5.4% for 5 years Monthly loan payment Number (1 marto Calculate Jonah and Chandra's Gos: Number mark mark) Calculate Josiah and Cassandra's TDS Number Do you approve the town?(1 maro Yos No You recommend to Josian and Cassandrs that they consider using the investment asset as collateral to reduce the interest rate on their loan from by 2% Julin thinks this may be a good idea, calculate the loan payment at at this new rate. Number How does this change their TDS calculation Number . Notice of Assessment for Jesiah Hamilton Tax year 2019 Line Description 150 Total Income..... Deductions from total income.. 236 Net Income....... Deductions from net income.. 260 Taxable income........... 350 Total federal non-refundable tax credits........ 6150 Total Alberta non-refundable tax credits........ 420 Net Federal Tax.... 421 CPP contributions. 435 Total Payable....... $ Amount $94,813 $13,274 $81,539 0 $81,539 $3,976 $2,802 0.00 4,207.50 4,207.50 437 Total Income Tax Deducted. $23,972.47 482 3,175.62 minus Total 1031.88 0.00 0.00 Total credits....... (Total payable credits). DR [Penalties...... DR Arrears interest.... DR Balance Due assessment........... DR Balance due........... DR 0.00 $-536 from this Notice of Assessment for Josiah Hamilton Tax year 2018 Line Description 150 Total Income..... Deductions from total income.. 236 Net Income....... Deductions from net income. 260 Taxable income..... 350 Total federal non-refundable tax credits......... 6150 Total Alberta non-refundable tax credits......... 420 Net Federal Tax.. 421 CPP contributions. 435 Total Payable.... $ Amount $81,595 $10,689 $70,906 0 $70,906 $3,327 $2,713 0.00 4,207.50 4,207.50 437 Total Income Tax Deducted. $21,555.42 482 3,175.62 minus Total 1031.88 0.00 0.00 Total credits..... (Total payable credits) DR [Penalties. DR Arrears interest... DR Balance Due assessment... DR Balance due...... DR 0.00 $894 from this ugh the information provided and determine if the clients qualify for their loan request. Josiah and Cassandra Hamilton have been married for 2 years. They are presently living in an older home and have come to you seeking financing so that they can renovate their kitchen in their home. Jeslah has priced out the renovation project and brought in some written estimates. Ho estimates the cost of the renovation to be $25,000. Josiah and Cassandra want to repay the loan over 5 years. Josiah has taken a building construction course at NAIT is exchod to use the skills he has leamed The Hamilton's house is valued at $305,000. The mortgage was for $268,400 with a 5-year term, amortized over 25 years at 2.52% Please Calculate the Monthly Mortgage Payment: Number (1 mark) They have made 32 payments on the mortgage. Please calculate the balance owing on the loan, Number (1 mark) This branch approved the mortgage. Taxes are $254 a month and heating is estimated at $175. They currently have $6,500 in a joint savings account at the branch. Both of them contributes to an RRSP. Josiah has clear title to some undeveloped property 80 miles west of Edmonton he inherited a few years ago it is currently valued at $75,000. Eventually Jesih would like to build a cabin on the property but realize that this is a long term goal. Jesiah pays about $63 a month on the taxes. Cassandra also has recently received an expensive painting from her grandmother valued at $40,000 with a certificate of authenticity Jesiah, 29, has been working for RV World for years. He grosses 584,380 annually as tead Heavy Duty Mechanic, much of this is overtime income. Jenish has provided his Notice of Assessments for his income verification as you has requested (see attacheo). Cassandra, 25, is in her last year at the U of A Cassandra works part-time at the U of A bookstore as a cashier she has provided a salary letter, she grosses approximately $23,990 per year. Her manager informed her she was going to receive a 1% increase next month. 18 months ago Jesiat bought a Ram for $42,000 and financed it with a loan com a competitor) for $37,800 at 5.35% for 7 years compounded monthly What is the monthly truck payment? Number (1 mark) What is the balance owing today for the truck? Number (1 mark) The current value of the Ram is estimated to be $28,100. Equifax shows he has never missed a payment and confirms that there are 86 months remaining on the installment loan Ratings on their credit cards from Costco ($1,500 credit limit)R1, RBC VISA ($5,000 credit limitare R1, they do however have a Capital One MasterCard with a R1 rating credit limit $1,500) They both like the finer things in fe, cards are continuously at the maximum credit limits. The do have a The Bay credit card reporting on their credit bureau with a limit of $1,000 but nothing is currently owing. Jesiah recently received an inheritance in the amount of $54,000. Currently he has it invested in a Bond Mutual Fund, Josiah does not want to access these funds at this time and would like the funds to remain as is. He is planning on using these funds in the future to build a cabin on his land. Calculato Net Worth from londer perspective Number (1 mark) In reviewing their current financial situation, you would recommend that the Hamiltone niso consolidate their consumer debts along with their renovation request Calculate the consolidation loan at 5.4% for 5 years Monthly loan payment Number (1 marto Calculate Jonah and Chandra's Gos: Number mark mark) Calculate Josiah and Cassandra's TDS Number Do you approve the town?(1 maro Yos No You recommend to Josian and Cassandrs that they consider using the investment asset as collateral to reduce the interest rate on their loan from by 2% Julin thinks this may be a good idea, calculate the loan payment at at this new rate. Number How does this change their TDS calculation Number . Notice of Assessment for Jesiah Hamilton Tax year 2019 Line Description 150 Total Income..... Deductions from total income.. 236 Net Income....... Deductions from net income.. 260 Taxable income........... 350 Total federal non-refundable tax credits........ 6150 Total Alberta non-refundable tax credits........ 420 Net Federal Tax.... 421 CPP contributions. 435 Total Payable....... $ Amount $94,813 $13,274 $81,539 0 $81,539 $3,976 $2,802 0.00 4,207.50 4,207.50 437 Total Income Tax Deducted. $23,972.47 482 3,175.62 minus Total 1031.88 0.00 0.00 Total credits....... (Total payable credits). DR [Penalties...... DR Arrears interest.... DR Balance Due assessment........... DR Balance due........... DR 0.00 $-536 from this Notice of Assessment for Josiah Hamilton Tax year 2018 Line Description 150 Total Income..... Deductions from total income.. 236 Net Income....... Deductions from net income. 260 Taxable income..... 350 Total federal non-refundable tax credits......... 6150 Total Alberta non-refundable tax credits......... 420 Net Federal Tax.. 421 CPP contributions. 435 Total Payable.... $ Amount $81,595 $10,689 $70,906 0 $70,906 $3,327 $2,713 0.00 4,207.50 4,207.50 437 Total Income Tax Deducted. $21,555.42 482 3,175.62 minus Total 1031.88 0.00 0.00 Total credits..... (Total payable credits) DR [Penalties. DR Arrears interest... DR Balance Due assessment... DR Balance due...... DR 0.00 $894 from this ugh the information provided and determine if the clients qualify for their loan request. Josiah and Cassandra Hamilton have been married for 2 years. They are presently living in an older home and have come to you seeking financing so that they can renovate their kitchen in their home. Jeslah has priced out the renovation project and brought in some written estimates. Ho estimates the cost of the renovation to be $25,000. Josiah and Cassandra want to repay the loan over 5 years. Josiah has taken a building construction course at NAIT is exchod to use the skills he has leamed The Hamilton's house is valued at $305,000. The mortgage was for $268,400 with a 5-year term, amortized over 25 years at 2.52% Please Calculate the Monthly Mortgage Payment: Number (1 mark) They have made 32 payments on the mortgage. Please calculate the balance owing on the loan, Number (1 mark) This branch approved the mortgage. Taxes are $254 a month and heating is estimated at $175. They currently have $6,500 in a joint savings account at the branch. Both of them contributes to an RRSP. Josiah has clear title to some undeveloped property 80 miles west of Edmonton he inherited a few years ago it is currently valued at $75,000. Eventually Jesih would like to build a cabin on the property but realize that this is a long term goal. Jesiah pays about $63 a month on the taxes. Cassandra also has recently received an expensive painting from her grandmother valued at $40,000 with a certificate of authenticity Jesiah, 29, has been working for RV World for years. He grosses 584,380 annually as tead Heavy Duty Mechanic, much of this is overtime income. Jenish has provided his Notice of Assessments for his income verification as you has requested (see attacheo). Cassandra, 25, is in her last year at the U of A Cassandra works part-time at the U of A bookstore as a cashier she has provided a salary letter, she grosses approximately $23,990 per year. Her manager informed her she was going to receive a 1% increase next month. 18 months ago Jesiat bought a Ram for $42,000 and financed it with a loan com a competitor) for $37,800 at 5.35% for 7 years compounded monthly What is the monthly truck payment? Number (1 mark) What is the balance owing today for the truck? Number (1 mark) The current value of the Ram is estimated to be $28,100. Equifax shows he has never missed a payment and confirms that there are 86 months remaining on the installment loan Ratings on their credit cards from Costco ($1,500 credit limit)R1, RBC VISA ($5,000 credit limitare R1, they do however have a Capital One MasterCard with a R1 rating credit limit $1,500) They both like the finer things in fe, cards are continuously at the maximum credit limits. The do have a The Bay credit card reporting on their credit bureau with a limit of $1,000 but nothing is currently owing. Jesiah recently received an inheritance in the amount of $54,000. Currently he has it invested in a Bond Mutual Fund, Josiah does not want to access these funds at this time and would like the funds to remain as is. He is planning on using these funds in the future to build a cabin on his land