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please re-answer the this questions or study case again clearly with all steps i really need help thanks Case Study - Frances: Frances Taylor, age
please re-answer the this questions or study case again clearly with all steps i really need help
Case Study - Frances: Frances Taylor, age 37, is single and has just returned to the work full-time as a software developer. Previously, he had reduced his work schedule to part-time so he could complete his master's degree. He thought he had enough money saved to cover his expenses while is he was in school, but he soon realized it wasn't enough. He has come to you for help to get his spending and debt under control. He also wants to discuss his mortgage as he is approaching the end of his term in 2 months. He has provided vou with the following information: 1. Review Francis' current financial information and briefly comment. (No Calculations required) 2. Analyze a debt consolidation strategy using an instalment loan for Francis. a. Briefly research two financial institutions that provide Installment loans and provide the interest rate, term and any additional features. (2 marks) b. Based on your research, choose the best option for Francis and explain why. c. How much money will Francis save with this debt consolidation loan. d. List two benefits and two drawbacks for this debt consolidation. 3. Analyze a debt consolidation strategy consolidating Francis' debt into his mortgage. a. Research a financial institution that provide a 5-year fixed mortgage and a variable rate mortgage and provide the interest rate, term and additional features. b. Based on your research, choose the best option for Francis and explain why. c. Does Francis have enough equity in his condo to do a mortgage consolidate? Why or why not? d. Francis would like to be able to cover his cash flow deficit and to have an additional $6,000 to put towards savings and other goals. Can he leave his amortization the same or will he need to extend his amortization? If yes, by how many years. e. What three recommendations would you make to Francis, including 2 benefits and drawbacks for each thanks
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