Question
Create a spreadsheet to summarize financial information that includes four sheets called Loan, Cash Flow, Investment, and Sell. Name the first sheet Loan and figure
Create a spreadsheet to summarize financial information that includes four sheets called Loan, Cash Flow, Investment, and Sell. Name the first sheet Loan and figure out your monthly payments and interest paid on a loan from your Aunt Julie for $350,000 over 30 years, using realistic interest rates. (Hint: Look into loan amortization schedules and current mortgage rates). Add a second sheet call Cash Flow to show your total monthly expenses, including the cost for utilities, taxes (assume $3,500 per year, increasing 3% per year), homeowners insurance, basic maintenance, etc. on top of the payment you make to your aunt. Also include other expenses, such as food, gas, car payments, etc. Add your projected income, including money you would receive from renters. Assume you earn $50,000/year at your job () and pay taxes, of course. Determine your monthly cash flow for a year. Add a third sheet called Investment to show your aunt that she is making a good investment, assuming she could have invested the same amount of money ($350,000) in a safe, low-interest investment. Add a fourth sheet called Sell that assumes you sell the house in ten years for $450,000. Suggest options to your aunt for how to handle that situation, including your equity in the house.
I really just want the final part: [Add a fourth sheet called Sell that assumes you sell the house in ten years for $450,000. Suggest options to your aunt for how to handle that situation, including your equity in the house.]
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