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i need help with the calculations for d, e and f. the answers for each are in the boxes. thank you! 11. Jordan and Mike

i need help with the calculations for d, e and f. the answers for each are in the boxes. thank you! image text in transcribed
image text in transcribed
11. Jordan and Mike are both planning on attending university in Calgary. Jordan's parents rent him a one bedroom apartment for $750 per month. Mike's parents bought a 3 bedroom house for $285000 that required a down payment of 10% and offered a mortgage amortized over 20 years at an annual rate of 4.15% compounded semi-annually for a 5 year term. They rented the other two rooms out for $600 each per month. The house depreciated in value by 1.5% a year and the cost of taxes and maintenance averaged $3000 a year. a. How much did Jordan's parents pay in rent over the years? 750 x 12 = 9000 4000x5 - $45000 $45000 a Proficient - 4 Exemplary Assessment No Attempt - 0 Beginning - 1 Emerging = 2 Developing - 3 b. What were the monthly mortgage payments on Mike's parents' house? (use your financial application and fill in the appropriate inputs) N = 240 196 = LUIS PV = 256.500 PMT-1569.81 FV = 0 P/Y -_12_ c/Y = 2. $1569.87 b. sessment Proficient - 4 Exemplary No Attempt - 0 Beginning = 1 Emerging - 2 Developing = 3 c. How much was left to pay on the mortgage after 5 years? (use your financial application and fill in the appropriate inputs) N = 60_ 1% = 4.15 PV = 256.500 UT=-1569.87 FV = 210595.SO Ply = 12 C/Y=2 $210595.50 sment No Attempt = 0 Beginning - 1 Emerging = 2 c. Developing = 3 Proficient=4 Exemplary Page 12 of 16 d. How much did the house lose in value (money] over the 5 years? $20 743.30 d. Developing - 3 Proficient - 4 Exemplary elf Assessment No Attempt - 0 Beginning - 1 Emerging - 2 e. Assuming the house was sold at market value after 5 years, how much would Mike's parents receive from the sale? S53661.20 e. Assessment No Attempt=0 Beginning - 1 Emerging - 2 Developing = 3 Proficient - 4 Exemplary f. How much did Mike's parents have to subsidize the rent for the 5 year term? sessment No Attempt = 0 Beginning = 1 f. Developing - 3 Emerging = 2 $22192.20 Proficient = 4 Exemplary Page 13 of 16

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