Can someone please create an excel sheet with the answers to Part 1, 2 and 3 (I have attached what I believe are correct answers for part 1 and 2 to save you time), So mainly need part 3 (Calculating the IRR and NPV) and please make sure the stuff in part 1 and 2 is correct. Will pay $50, with $20 tip if completed asap.

STANDARD HOMES Cost of House Down Payment $1,500,000.00 $150,000.00 Number of Years Annual Rate Payments/Year Rate/Payment Monthly Payment Amount FLOATING REALESTATE Cost of House 30 7.00% 12 0.58% (8,981.58) (First 3 Years) $1,500,000.00 Number of Years Annual Rate Payments/Year Rate/Payment 20 6.50% 4 1.63% Quarterly Payment Amount (28,687.62) FLOATING REALESTATE Cost of House Down Payment Loan balance start of year 4 Number of Years Annual Rate Payments/Year Rate/Payment (Year 4 Onwards) $1,500,000.00 $200,000.00 $1,194,559.64 17 7.50% 4 1.88% Quarterly Payment Amount (30,652.83) APR NPER RATE FV PV PMT Year 7.00% 360 0.58% 0 $ 1,350,000.00 -$8,981.58 Payment Interest 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 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$1,339,805.17 -$1,166.05 $1,338,639.12 -$1,172.86 $1,337,466.26 -$1,179.70 $1,336,286.57 -$1,186.58 $1,335,099.99 -$1,193.50 $1,333,906.49 -$1,200.46 $1,332,706.03 -$1,207.47 $1,331,498.56 -$1,214.51 $1,330,284.05 -$1,221.59 $1,329,062.46 -$1,228.72 $1,327,833.74 -$1,235.89 $1,326,597.85 -$1,243.10 $1,325,354.76 -$1,250.35 $1,324,104.41 -$1,257.64 $1,322,846.77 -$1,264.98 $1,321,581.79 -$1,272.36 $1,320,309.43 -$1,279.78 $1,319,029.65 -$1,287.24 $1,317,742.41 -$1,294.75 $1,316,447.66 -$1,302.31 $1,315,145.35 -$1,309.90 $1,313,835.45 -$1,317.54 $1,312,517.91 -$1,325.23 $1,311,192.68 -$1,332.96 $1,309,859.72 -$1,340.74 $1,308,518.98 -$1,348.56 $1,307,170.42 -$1,356.42 $1,305,814.00 -$1,364.34 $1,304,449.67 -$1,372.29 $1,303,077.37 -$1,380.30 $1,301,697.07 -$1,388.35 $1,300,308.72 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 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$946,545.08 $943,085.01 $939,604.75 $936,104.20 $932,583.22 $929,041.71 $925,479.53 $921,896.58 $918,292.73 $914,667.85 $911,021.83 $907,354.54 $903,665.86 $899,955.66 $896,223.81 $892,470.20 $888,694.70 $884,897.16 $881,077.48 $877,235.52 $873,371.14 $869,484.22 $865,574.63 $861,642.23 $857,686.89 $853,708.48 $849,706.86 $845,681.90 $841,633.47 $837,561.41 $833,465.60 $829,345.90 $825,202.17 $821,034.26 $816,842.05 $812,625.37 $808,384.11 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$4,715.57 -$4,690.69 -$4,665.66 -$4,640.48 -$4,615.16 -$4,589.69 -$4,564.07 -$4,538.30 -$4,512.38 -$4,486.31 -$4,460.09 -$4,433.71 -$4,407.18 -$4,380.50 -$4,353.66 -$4,326.66 -$4,299.51 -$4,272.20 -$4,244.73 -$4,217.10 -$4,189.30 -$4,161.35 -$4,133.23 -$4,104.95 -$4,076.50 -$4,047.89 -$4,019.11 -$3,990.16 -$3,961.04 -$3,931.76 -$3,902.30 -$3,872.67 -$3,842.87 -$3,812.89 -$3,782.74 -$3,752.41 -$3,721.91 -$3,691.23 -$3,660.37 -$3,629.33 -$3,598.11 -$3,566.70 -$3,535.12 -$3,503.35 -$3,471.39 -$3,439.25 -$3,406.92 -$3,374.40 -$4,266.01 -$4,290.89 -$4,315.93 -$4,341.10 -$4,366.42 -$4,391.90 -$4,417.51 -$4,443.28 -$4,469.20 -$4,495.27 -$4,521.50 -$4,547.87 -$4,574.40 -$4,601.08 -$4,627.92 -$4,654.92 -$4,682.07 -$4,709.39 -$4,736.86 -$4,764.49 -$4,792.28 -$4,820.24 -$4,848.35 -$4,876.64 -$4,905.08 -$4,933.70 -$4,962.48 -$4,991.42 -$5,020.54 -$5,049.83 -$5,079.28 -$5,108.91 -$5,138.72 -$5,168.69 -$5,198.84 -$5,229.17 -$5,259.67 -$5,290.35 -$5,321.21 -$5,352.25 -$5,383.48 -$5,414.88 -$5,446.47 -$5,478.24 -$5,510.19 -$5,542.34 -$5,574.67 -$5,607.19 $804,118.10 $799,827.20 $795,511.28 $791,170.17 $786,803.75 $782,411.86 $777,994.34 $773,551.06 $769,081.85 $764,586.58 $760,065.09 $755,517.22 $750,942.82 $746,341.73 $741,713.81 $737,058.89 $732,376.82 $727,667.43 $722,930.57 $718,166.08 $713,373.80 $708,553.57 $703,705.21 $698,828.57 $693,923.49 $688,989.79 $684,027.32 $679,035.89 $674,015.35 $668,965.52 $663,886.24 $658,777.33 $653,638.61 $648,469.92 $643,271.08 $638,041.91 $632,782.23 $627,491.88 $622,170.67 $616,818.41 $611,434.93 $606,020.06 $600,573.59 $595,095.35 $589,585.16 $584,042.82 $578,468.15 $572,860.97 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$3,341.69 -$3,308.79 -$3,275.70 -$3,242.41 -$3,208.94 -$3,175.26 -$3,141.39 -$3,107.32 -$3,073.06 -$3,038.59 -$3,003.92 -$2,969.05 -$2,933.98 -$2,898.70 -$2,863.22 -$2,827.53 -$2,791.63 -$2,755.52 -$2,719.20 -$2,682.67 -$2,645.93 -$2,608.97 -$2,571.80 -$2,534.41 -$2,496.80 -$2,458.97 -$2,420.92 -$2,382.65 -$2,344.16 -$2,305.44 -$2,266.50 -$2,227.32 -$2,187.92 -$2,148.29 -$2,108.43 -$2,068.34 -$2,028.01 -$1,987.45 -$1,946.65 -$1,905.61 -$1,864.34 -$1,822.82 -$1,781.06 -$1,739.06 -$1,696.81 -$1,654.32 -$1,611.57 -$1,568.58 -$5,639.89 -$5,672.79 -$5,705.89 -$5,739.17 -$5,772.65 -$5,806.32 -$5,840.19 -$5,874.26 -$5,908.53 -$5,942.99 -$5,977.66 -$6,012.53 -$6,047.60 -$6,082.88 -$6,118.36 -$6,154.05 -$6,189.95 -$6,226.06 -$6,262.38 -$6,298.91 -$6,335.65 -$6,372.61 -$6,409.79 -$6,447.18 -$6,484.78 -$6,522.61 -$6,560.66 -$6,598.93 -$6,637.43 -$6,676.14 -$6,715.09 -$6,754.26 -$6,793.66 -$6,833.29 -$6,873.15 -$6,913.24 -$6,953.57 -$6,994.13 -$7,034.93 -$7,075.97 -$7,117.25 -$7,158.76 -$7,200.52 -$7,242.53 -$7,284.77 -$7,327.27 -$7,370.01 -$7,413.00 $567,221.07 $561,548.28 $555,842.39 $550,103.22 $544,330.57 $538,524.25 $532,684.06 $526,809.80 $520,901.27 $514,958.28 $508,980.62 $502,968.09 $496,920.49 $490,837.61 $484,719.24 $478,565.19 $472,375.23 $466,149.17 $459,886.79 $453,587.88 $447,252.23 $440,879.61 $434,469.83 $428,022.65 $421,537.87 $415,015.25 $408,454.59 $401,855.66 $395,218.24 $388,542.09 $381,827.00 $375,072.74 $368,279.08 $361,445.80 $354,572.65 $347,659.40 $340,705.83 $333,711.70 $326,676.77 $319,600.80 $312,483.55 $305,324.79 $298,124.27 $290,881.74 $283,596.97 $276,269.70 $268,899.69 $261,486.69 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$8,981.58 -$1,525.34 -$1,481.84 -$1,438.10 -$1,394.09 -$1,349.83 -$1,305.31 -$1,260.53 -$1,215.50 -$1,170.19 -$1,124.63 -$1,078.79 -$1,032.69 -$986.33 -$939.69 -$892.78 -$845.59 -$798.13 -$750.39 -$702.38 -$654.08 -$605.51 -$556.65 -$507.50 -$458.07 -$408.35 -$358.34 -$308.04 -$257.44 -$206.55 -$155.36 -$103.88 -$52.09 -$7,456.24 -$7,499.74 -$7,543.49 -$7,587.49 -$7,631.75 -$7,676.27 -$7,721.05 -$7,766.09 -$7,811.39 -$7,856.96 -$7,902.79 -$7,948.89 -$7,995.26 -$8,041.90 -$8,088.81 -$8,135.99 -$8,183.45 -$8,231.19 -$8,279.20 -$8,327.50 -$8,376.08 -$8,424.94 -$8,474.08 -$8,523.51 -$8,573.24 -$8,623.25 -$8,673.55 -$8,724.14 -$8,775.03 -$8,826.22 -$8,877.71 -$8,929.49 $254,030.44 $246,530.70 $238,987.21 $231,399.72 $223,767.97 $216,091.70 $208,370.65 $200,604.56 $192,793.17 $184,936.22 $177,033.43 $169,084.54 $161,089.28 $153,047.38 $144,958.58 $136,822.59 $128,639.13 $120,407.95 $112,128.74 $103,801.24 $95,425.17 $87,000.23 $78,526.15 $70,002.63 $61,429.40 $52,806.15 $44,132.60 $35,408.46 $26,633.43 $17,807.20 $8,929.49 $0.00 Standard Homes - Interest vs Principal 0 -1000 -2000 -3000 -4000 -5000 -6000 -7000 -8000 -9000 -10000 Interest Principal pal APR NPER RATE FV PV PMT Year 6.50% 7.50% Loan Amount 80 68 Deposit 1.63% 1.88% Fees 0 0 NPV $ 1,300,000.00 $1,194,559.64 -$28,687.62 -$30,652.83 Payment Interest Principal 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$28,687.62 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$20,658.83 -$20,528.36 -$20,395.77 -$20,261.03 -$20,124.10 -$19,984.94 -$19,843.52 -$19,699.80 -$19,553.75 -$19,405.33 -$19,254.49 -$19,101.20 -$21,823.25 -$21,657.70 -$21,489.04 -$21,317.22 -$21,142.18 -$20,963.85 -$20,782.18 -$20,597.11 -$20,408.56 -$20,216.48 -$20,020.80 -$19,821.45 -$19,618.36 -$19,411.47 -$19,200.69 -$18,985.96 -$18,767.21 -$18,544.35 -$18,317.32 -$18,086.03 -$17,850.40 -$17,610.36 -$17,365.81 -$17,116.68 -$16,862.88 -$16,604.31 -$16,340.90 -$16,072.56 1,500,000 200,000 4000 -4,000.00 Outstanding Balance $1,300,000.00 -$8,028.80 $1,291,971.20 -$8,159.26 $1,283,811.94 -$8,291.85 $1,275,520.09 -$8,426.59 $1,267,093.49 -$8,563.53 $1,258,529.97 -$8,702.68 $1,249,827.28 -$8,844.10 $1,240,983.18 -$8,987.82 $1,231,995.36 -$9,133.87 $1,222,861.49 -$9,282.30 $1,213,579.19 -$9,433.13 $1,204,146.06 -$9,586.42 $1,194,559.64 -$8,829.58 $1,185,730.06 -$8,995.13 $1,176,734.93 -$9,163.79 $1,167,571.14 -$9,335.61 $1,158,235.52 -$9,510.65 $1,148,724.87 -$9,688.98 $1,139,035.89 -$9,870.65 $1,129,165.24 -$10,055.72 $1,119,109.52 -$10,244.27 $1,108,865.25 -$10,436.35 $1,098,428.91 -$10,632.03 $1,087,796.88 -$10,831.38 $1,076,965.50 -$11,034.47 $1,065,931.03 -$11,241.36 $1,054,689.67 -$11,452.14 $1,043,237.53 -$11,666.87 $1,031,570.66 -$11,885.62 $1,019,685.04 -$12,108.48 $1,007,576.56 -$12,335.51 $995,241.05 -$12,566.80 $982,674.25 -$12,802.43 $969,871.82 -$13,042.47 $956,829.35 -$13,287.02 $943,542.33 -$13,536.15 $930,006.18 -$13,789.95 $916,216.22 -$14,048.52 $902,167.71 -$14,311.93 $887,855.78 -$14,580.27 $873,275.51 0 -5000 -10000 -15000 -20000 -25000 -30000 -35000 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$30,652.83 -$15,799.18 -$15,520.67 -$15,236.94 -$14,947.89 -$14,653.43 -$14,353.44 -$14,047.82 -$13,736.48 -$13,419.30 -$13,096.17 -$12,766.98 -$12,431.62 -$12,089.97 -$11,741.92 -$11,387.34 -$11,026.11 -$10,658.11 -$10,283.21 -$9,901.28 -$9,512.19 -$9,115.80 -$8,711.98 -$8,300.59 -$7,881.49 -$7,454.53 -$7,019.56 -$6,576.43 -$6,125.00 -$5,665.10 -$5,196.58 -$4,719.28 -$4,233.03 -$3,737.65 -$3,232.99 -$2,718.87 -$2,195.11 -$1,661.53 -$1,117.94 -$564.16 $0.00 -$14,853.65 -$15,132.16 -$15,415.89 -$15,704.94 -$15,999.40 -$16,299.39 -$16,605.01 -$16,916.35 -$17,233.53 -$17,556.66 -$17,885.85 -$18,221.21 -$18,562.86 -$18,910.91 -$19,265.49 -$19,626.72 -$19,994.72 -$20,369.62 -$20,751.55 -$21,140.64 -$21,537.03 -$21,940.85 -$22,352.24 -$22,771.34 -$23,198.30 -$23,633.27 -$24,076.40 -$24,527.83 -$24,987.73 -$25,456.25 -$25,933.55 -$26,419.80 -$26,915.18 -$27,419.84 -$27,933.96 -$28,457.72 -$28,991.30 -$29,534.89 -$30,088.67 -$30,652.83 $858,421.85 $843,289.69 $827,873.80 $812,168.86 $796,169.46 $779,870.07 $763,265.06 $746,348.71 $729,115.18 $711,558.52 $693,672.67 $675,451.46 $656,888.60 $637,977.69 $618,712.21 $599,085.49 $579,090.77 $558,721.15 $537,969.60 $516,828.96 $495,291.93 $473,351.09 $450,998.85 $428,227.51 $405,029.20 $381,395.93 $357,319.53 $332,791.70 $307,803.98 $282,347.73 $256,414.18 $229,994.38 $203,079.20 $175,659.36 $147,725.41 $119,267.69 $90,276.39 $60,741.50 $30,652.83 -$0.00 Floating Real Estate - Interest vs Principal 0 -5000 -10000 -15000 -20000 -25000 -30000 -35000 Interest Principal APR NPER RATE FV PV PMT 0.00% Loan amount 20 Deposit 0.00% Fees $6,000,000 NPV $ 1,400,000.00 IRR - without fees $0.00 Year Payment 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$6,000,000.00 Interest $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$4,600,000.00 1,500,000 100,000 3000 -$3,000.00 7.54771% Principal Outstanding Balance $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 $0.00 $ 1,400,000.00 -$1,400,000.00 $0 0 Bizzare Properties - Interest vs Principal $0.00 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 ($1,000,000.00) ($2,000,000.00) ($3,000,000.00) ($4,000,000.00) ($5,000,000.00) ($6,000,000.00) ($7,000,000.00) Payment Interest FINM2401 Financial Management, Semester 1 2016 FINM2401 Financial Management, Semester 1 2016 Team Project Assignment due: 30 April 2016. Submit electronically on Blackboard - one assignment per group. Group: This is a group assignment. Your group should contain 3-4 students. Facts: It has been 3 years since you graduated from UQ Business School. The housing market is pretty good and you decide to jump in now. Since you are a successful investment banker, a luxurious apartment is within your reach. You have decided to buy a high-end apartment in New Farm Brisbane, priced approximately $1,500,000. There are three financing options available. Your training at the University has prepared you well for life after graduation and you are going to use your knowledge from FINM2401 Financial Management to assess which is the best deal. Standard Homes offers a standard amortised mortgage loan with a down payment of $150,000 (paid on the day of purchase of the apartment) and the balance is financed by a 7% p.a. fixed interest (compounded monthly) home loan with a term of 30 years with monthly payments (first payment paid one month after you buy your apartment). This offer includes $5,000 in loan set up fees that must be paid in cash on the date of purchase. Floating Real Estate offers you a deal with ABC Bank for a mortgage with a down payment of $200,000 (paid on the day of purchase of the apartment) and the balance financed by a 6.5% p.a. fixed interest (compounded quarterly) mortgage with a term of 20 years with quarterly payments (first payment is paid on the day of purchase of the apartment). Unfortunately, this fixed interest rate will last only three years and then the rate will be variable for the remainder of the mortgage. ABC Bank estimate the variable rate will be 7.5% at the beginning of year 4. For the purpose of your calculation this variable rate is assumed to remain constant over the remaining life of the mortgage. Application fees for this loan are $4000, which must be paid in cash on the date of purchase. Bizarre Properties owns a finance company which offers you a mortgage with a down payment of $100,000 (paid on the day of purchase of the apartment). The set up fees with this mortgage are a little bit cheaper at $3000. You only need to pay a lump sum of $6,000,000 at the end of year 20. Investment Account: You also have an investment asset that pays 8% p.a., compounded weekly. You decide to use this account to handle the loans. Other information: You can handle the upfront payments without difficulty. Required: 1. 2. 3. Calculate the monthly payment on Standard Homes loan and quarterly payments on Floating Real Estate deal. Prepare excel worksheets with the complete payment schedules for all three financing deals. The payment schedules should show the amount and timing of all payments. Graph the Interest and Principal amounts out of the payments across time, in each case. a. Rank these financing options in order of attractiveness using the TWO valuation methods: (1) Internal Rate of Return (IRR), and (2) Net Present Value (NPV). (Hint: 1 FINM2401 Financial Management, Semester 1 2016 4. Think about handling interest rates with different compounding frequency, fees, and down payments). b. Imagine your investment account now pays 10% p.a., 7% p.a., 6% p.a., or 0% p.a. (all compounded weekly). Does your final decision change? Provide the rankings in each of the scenarios accordingly. Prepare a typed summary, not to exceed 800 words, addressing the following: a. Discuss how you would deal with the lack of an interest rate for Bizarre Properties. b. Describe the patterns of your interest and principal amounts for the first two deals. What are the implications from the cash flows that you see in the graphs and the solutions in Part 3? c. Based on your ranking of the three alternatives and decisions, discuss the most viable financial arrangement for you. NOTE: Your ranking should include a discussion of the valuation methods. You should also explain why you chose a particular method. Mark Allocation: Part 1 Part 2 Part 3 Part 4 Payment for Standard Homes 5 Payment schedule and Graphs for Floating Real Estate 15 Payments for Floating Real Estate Payment schedule and Graphs for Standard Homes Payment schedule and Graphs for Bizarre Properties Ranking Computation using IRR Ranking Computation using NPV Discussion Presentation Total Additional Notes: 10 10 5 20 30 45 10 150 Your Excel file should include all workings, calculations, schedules of payments, and graphs. Formulas for the calculations should have cell references wherever possible. If you have computed a number incorrectly and just typed that number into the spreadsheet (or typed a formula using numbers when cell references could have been used), you will not receive partial credit for any portion of you computation that is correct. The 800-word limit is firm. Only the first 800 words in your written response will be read. Marks will not be awarded after the word limit threshold, even if you provide the correct answer. NOTE: You must list the actual word count on your pdf file. If not, 5 points in your Presentation allocated marks will be deducted. Final Submission: Teams should submit their entire assignment (ONE SUBMISSION PER TEAM) by attaching TWO files: an Excel file containing the answers for Part 1, 2, and 3 on BLACKBOARD TEAM PROJECT (Name the file \"Assignment_FINM2401_TeamXXX.xlsx\" where xxx is your team's number); and a pdf with the answer to Part 4 on TURNITIN TEAM PROJECT (Name the file \"Assignment_FINM2401_TeamXXX.pdf\"). NOTE: 2 FINM2401 Financial Management, Semester 1 2016 Please make sure that only ONE member of your team submits through Turnitin. If more than one team member submits the answer, Turnitin will treat it as plagiarism. You may re-submit as many as you like, but only your last submission will be graded. Each team member needs to submit the Peers Evaluation Form to get the assignment score. 3