Mr and Mrs Monash have hired your team of financial planners to consult on their intention to buy their next home.
In 4 years time, they intend buy a 3 bedroom house in Caulfield to live in. They intend to spend $1,440,000 to buy their house.
Task 1:
Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. You are required to show evidence of your comparison. No evidence of comparison will result in a -2 mark penalty. Evidence would be comparing your recommendation with at least two other loan products which also match all the conditions below.
Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. Mr and Mrs Monash have the following conditions and needs of the loan you present to them: (if you breach the conditions above or below, -2 marks will be deducted for each breach)
The loan has to be from a Non-bank financial insitution
The loan needs to have a Offset facility
Mr & Mrs Monash wish to make monthly repayments
They wish to borrow money for 30 years
They wish to take a fully amortizing loan.
They are interested in a 3 year Fixed rate loan (use comparison rates only)
Mr & Mrs Monash want an LVR of 90% (Assume any loan you research allows the LVR desired and ignore mortgage insurance) a) Applying their desired LVR, Calculate the amount Mr and Mrs Monash has to borrow.
b) Calculate the deposit Mr and Mrs Monash must contribute in the future.
c) Apply financial math to calculate the periodic loan repayment Mr and Mrs Monash must pay. (show your formula, substitution and working, missing financial math will result in a -4 mark penalty)
d) Today, Mr and Mrs Monash have $1,700.00 of disposable income to service their debt at each loan repayment period. Assuming, their income increases by the current rate of annual inflation, will they be able to afford the periodic loan repayment needed for the loan? If not, by what nominal annual percentage will they have to grow their disposable income available to service the loan in the future when they buy their house? If their future income is greater than the loan repayment required, by what percentage is their income greater than the loan payment required?
Task 2:
Given the deposit Mr and Mrs Monash must pay in the future, they also task you with finding a good investment to help them save. Find and present in your business report, the best (highest interest rate) term deposit available in the market. No evidence nor sourcing of the comparison will result in a -4-mark penalty. An example of evidence would be providing screen shots either in the assignment main body or in an appendix, comparing your recommended product with at least two other products which match all the conditions below. Any screen shots are to be referenced by footnotes or endnotes.
Mr and Mrs Monash have the following conditions and needs for the term deposit you present to them: (if you breach the conditions below, -2 marks will be deducted for each breach)
The term deposit is to be from a Non-big 4 Bank (domestic or foreign)
The term of the deposit matures when they purchase the house in the future.
They require interest to be calculated and paid monthly
Mr and Mrs Monash have $80,000 to investment today
a) Given what Mr. and Mrs. Monash have to invest today, apply financial math and calculate the future value of investing in your recommended term deposit today, for when Mr and Mrs Monash need to buy their house. (show your formula, substitution and working, missing financial math will result in a -4 mark penalty)
b) Do Mr. and Mrs. have enough now, to pay for their deposit in the future? If yes, by what percentage are they over their deposit.
4 Mr and Mrs Monash have hired your team of financial planners to consult on their intention to buy their next home 5 6 in 4 years time, they intend buy a 3 bedroom house in Caulfield to live in They intend to spend 51.440,000 to buy their house 2 & Task 1 9 Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. You are required to show evidence of your comparison No evidence of comparison will result in a 2 mark 10 penalty. Evidence would be comparing your recommendation with at least two other loan products which also match all the conditions below 11 Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. Mr and Mrs Monash have the following conditions and needs of the loan you present to them 12 of you breach the conditions above or below. - 2 marks will be deducted for each breach) The loan has to be from a Non-bank financial insitution 14 The loan needs to have a Offset facility 15 Mr & Mrs Monash wish to make monthly repayments 16 They wish to borrow money for 30 years 17 They wish to take a fully amortising loan 18 They are interested in a 3 year Fixed rate loan use comparison rates only) Mr & Mrs Monashwant an LVR of 904 (Assume any loan you research allows the LVR desired and ignore mortgage insurance) 20 21 al Applying the desired LVR Calculate the amount Mand Mrs Monash has to borrow 19 23 2 b) Calculate the deposit Mand Mrs Monash must contribute in the future 0 )Apply financial math to calculate the periodic loan repayment Mr and Mrs Monash must pay (show your formula substitution and working missing fromat will in- dark perly 27 29 30 31 d) Today, Mr and Mrs Monash have 51,700.00 of disposable income to service their debit at each loan repayment period Assuming their income increases by the current rate of annual inflation will they be able to afford the periodic loan repayment needed for the loan? If not, by what nominal annual percentage will they have to grow their disposable income available to service the loan in the future when they buy their house? If the future income is greater than the loan repayment required by what percentage is the income greater than the loan payment required? Task 2 Given the deposit Mr and Mrs Monash must pay in the future, they also task you with finding a good investment to help them save find and present in your business report the best (highest interest rate) term deposit available in the market No evidence nor sourcing of the comparison will result in a -4-mark penalty. An example of evidence would be providing screen shots either in the assignment main body or in an appendix comparing your recommended product with at least two Mr and Mrs Monash have the following conditions and needs for the term deposit you present to them if you breach the conditions below. -2 marks will be deducted for each breach) The term deposit is to be from a Non-bio 4 Bank (domestic or foreign) The term of the deposit matures when they purchase the house in the future They require interest to be calculated and paid monthly Mr and Mrs Monash have $80,000 to investment today 3) Given what Mr. and Mrs. Monash have to invest today, apply financial math and calculate the future value of investing in your recommended term deposit today, for when Mr and Mrs Monash need to buy their house (show your formula, substitution and working, missing financial math will result in a -4 mark penalty) ) Do Mr. and Mrs. have enough now to pay for their deposit in the future? If yes by what percentage are they over their deposit T3:34 930 BNE 100% Team 23 Assignment Data.xlsx ASSIGNMENT 2 DATA FOR TEAM NUMBER This document is only to provide you with the data for the Team Business Report. Refer to the Team Business Report Information documenton Moodle under the relevant tab for the full assessment instruction Mr and Mrs Monash barve hired your team of financial planners to consult on their intention to buy their next home In + years time, they intend buy a 3 bedroom house in Caulfield to live in. They intend to spend $1.400,000 to buy their house Task Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. You are required to show evidence of your comparison. No evidence of comparison will result in a-2 mark penalty. Evidence would be comparing your recommendation with at least two other loan products which also match all the conditions below. Find and persent in a business report, the cheapest (lowest interest rate) home loom in the market. Mr and Mrs Monash have the following conditions and needs of the loan you present to them fif you becach the conditions above or below,-2 marks will be deducted for each breach) The kan has to be from a Nonbank financial insitution The needs to have a Offet facility Mr & Mrs Monasi wish to make They wish to borrow money for 30 years They wish to take a fully amortizing loan They are interested in year Fidratele fuse comparison rates caly) Mr & Mrs Monashwant an L. VR of (Assume any loan you research allows the LVR desired and ignore mortgage insurance) Applying their desired LVR. Calculate the amount Mr and Mrs Monash has to borrow. b) Calculate the deposit Mr and Mrs Monash must contribute in the future. 0 c) Apply financial math to calculate the periodic loan repayment Mr and Mrs Monash must pay. show your forwal, substination and working enviesing financial mark will result in a mark penalty d) Today, Mr and Mrs Monash have S1,700,00 of disposable income to service their debut each kan repayment period. Assuming their income increases by the current rate of annual inflation will they be able to afford the periodic loan repayment needed for the loan! If not, by what nominal annual percentage will they have to grow their disposable income available to service the loan in the future when they buy their house! If their future income is greater than the loan repayment required, by what percentage is their income greater than the loan payment required? Task 2 Given the deposit Mr and Ms Monash must pay in the future, they also take you with finding a pood investment to help them save. Find and present in your business report the best (highest interest rate term deposit available in the market. No evidence nor sourcing of the comparison will result in a---mark penalty. An example of evidence would be providing screen shots either in the assignment main body or in an appendix, comparing your recommended product with at least two other products which match all the conditions below. Any screenshots are to be referenced by footnotes or endotes Mr and Mrs Monash have the following conditions and needs for the term deposit you present to them fif you breach the conditions below,-2 marks will be deducted for each breach) The term deposit is to be from a Nonbig4 Bankdomestieri The term of the deposit matures when they purchase the house in the future. They require interest to be calculated and paid Mr and Mrs Monash have $80,000 to investment today a) Given what Mr. and Mrs. Monash have to invest today, apply financial math and calculate the future value of investing in your recommended term deposit today, for when Mr and Mrs Monash need to buy their house. (show your formula, substitution and working, missing financial math will result in a -4 mark penalty b) Do Mr. and Mrs. have enough now, to pay for their deposit in the future? If yes, by what percentage are they over their deposit. 4 Mr and Mrs Monash have hired your team of financial planners to consult on their intention to buy their next home 5 6 in 4 years time, they intend buy a 3 bedroom house in Caulfield to live in They intend to spend 51.440,000 to buy their house 2 & Task 1 9 Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. You are required to show evidence of your comparison No evidence of comparison will result in a 2 mark 10 penalty. Evidence would be comparing your recommendation with at least two other loan products which also match all the conditions below 11 Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. Mr and Mrs Monash have the following conditions and needs of the loan you present to them 12 of you breach the conditions above or below. - 2 marks will be deducted for each breach) The loan has to be from a Non-bank financial insitution 14 The loan needs to have a Offset facility 15 Mr & Mrs Monash wish to make monthly repayments 16 They wish to borrow money for 30 years 17 They wish to take a fully amortising loan 18 They are interested in a 3 year Fixed rate loan use comparison rates only) Mr & Mrs Monashwant an LVR of 904 (Assume any loan you research allows the LVR desired and ignore mortgage insurance) 20 21 al Applying the desired LVR Calculate the amount Mand Mrs Monash has to borrow 19 23 2 b) Calculate the deposit Mand Mrs Monash must contribute in the future 0 )Apply financial math to calculate the periodic loan repayment Mr and Mrs Monash must pay (show your formula substitution and working missing fromat will in- dark perly 27 29 30 31 d) Today, Mr and Mrs Monash have 51,700.00 of disposable income to service their debit at each loan repayment period Assuming their income increases by the current rate of annual inflation will they be able to afford the periodic loan repayment needed for the loan? If not, by what nominal annual percentage will they have to grow their disposable income available to service the loan in the future when they buy their house? If the future income is greater than the loan repayment required by what percentage is the income greater than the loan payment required? Task 2 Given the deposit Mr and Mrs Monash must pay in the future, they also task you with finding a good investment to help them save find and present in your business report the best (highest interest rate) term deposit available in the market No evidence nor sourcing of the comparison will result in a -4-mark penalty. An example of evidence would be providing screen shots either in the assignment main body or in an appendix comparing your recommended product with at least two Mr and Mrs Monash have the following conditions and needs for the term deposit you present to them if you breach the conditions below. -2 marks will be deducted for each breach) The term deposit is to be from a Non-bio 4 Bank (domestic or foreign) The term of the deposit matures when they purchase the house in the future They require interest to be calculated and paid monthly Mr and Mrs Monash have $80,000 to investment today 3) Given what Mr. and Mrs. Monash have to invest today, apply financial math and calculate the future value of investing in your recommended term deposit today, for when Mr and Mrs Monash need to buy their house (show your formula, substitution and working, missing financial math will result in a -4 mark penalty) ) Do Mr. and Mrs. have enough now to pay for their deposit in the future? If yes by what percentage are they over their deposit T3:34 930 BNE 100% Team 23 Assignment Data.xlsx ASSIGNMENT 2 DATA FOR TEAM NUMBER This document is only to provide you with the data for the Team Business Report. Refer to the Team Business Report Information documenton Moodle under the relevant tab for the full assessment instruction Mr and Mrs Monash barve hired your team of financial planners to consult on their intention to buy their next home In + years time, they intend buy a 3 bedroom house in Caulfield to live in. They intend to spend $1.400,000 to buy their house Task Find and present in a business report, the cheapest (lowest interest rate) home loan in the market. You are required to show evidence of your comparison. No evidence of comparison will result in a-2 mark penalty. Evidence would be comparing your recommendation with at least two other loan products which also match all the conditions below. Find and persent in a business report, the cheapest (lowest interest rate) home loom in the market. Mr and Mrs Monash have the following conditions and needs of the loan you present to them fif you becach the conditions above or below,-2 marks will be deducted for each breach) The kan has to be from a Nonbank financial insitution The needs to have a Offet facility Mr & Mrs Monasi wish to make They wish to borrow money for 30 years They wish to take a fully amortizing loan They are interested in year Fidratele fuse comparison rates caly) Mr & Mrs Monashwant an L. VR of (Assume any loan you research allows the LVR desired and ignore mortgage insurance) Applying their desired LVR. Calculate the amount Mr and Mrs Monash has to borrow. b) Calculate the deposit Mr and Mrs Monash must contribute in the future. 0 c) Apply financial math to calculate the periodic loan repayment Mr and Mrs Monash must pay. show your forwal, substination and working enviesing financial mark will result in a mark penalty d) Today, Mr and Mrs Monash have S1,700,00 of disposable income to service their debut each kan repayment period. Assuming their income increases by the current rate of annual inflation will they be able to afford the periodic loan repayment needed for the loan! If not, by what nominal annual percentage will they have to grow their disposable income available to service the loan in the future when they buy their house! If their future income is greater than the loan repayment required, by what percentage is their income greater than the loan payment required? Task 2 Given the deposit Mr and Ms Monash must pay in the future, they also take you with finding a pood investment to help them save. Find and present in your business report the best (highest interest rate term deposit available in the market. No evidence nor sourcing of the comparison will result in a---mark penalty. An example of evidence would be providing screen shots either in the assignment main body or in an appendix, comparing your recommended product with at least two other products which match all the conditions below. Any screenshots are to be referenced by footnotes or endotes Mr and Mrs Monash have the following conditions and needs for the term deposit you present to them fif you breach the conditions below,-2 marks will be deducted for each breach) The term deposit is to be from a Nonbig4 Bankdomestieri The term of the deposit matures when they purchase the house in the future. They require interest to be calculated and paid Mr and Mrs Monash have $80,000 to investment today a) Given what Mr. and Mrs. Monash have to invest today, apply financial math and calculate the future value of investing in your recommended term deposit today, for when Mr and Mrs Monash need to buy their house. (show your formula, substitution and working, missing financial math will result in a -4 mark penalty b) Do Mr. and Mrs. have enough now, to pay for their deposit in the future? If yes, by what percentage are they over their deposit
