please solve complete

Task 2: After five years, William paid off his student loan and the car loan. He saved $60,000 to make a down payment on the house purchase. In the last five years, William's annual salary has increased at an average yearly rate of 2.5%. During the same time, his expenses increased by 2.5% per year as well. 6. Calculate William's yearly salary and monthly take-home pay after five years. 7. Calculate his monthly rent and utilities after five years and round it up to the next $50 mark. 8. William wants to buy a house. He talked with a realtor and found a house that he really likes. The asking price of the house is $500,000; the realtor thinks that William can purchase the house for $480,000. After a $60,000 down payment, William's total home loan amount would be $420,000. Based on his current excellent credit score and no outstanding loans, William was approved for a 30 -year, fixed-rate mortgage for 5% per year compounded monthly. If William decides to purchase the house, what would be the monthly home loan payment? For simplicity, William chose to ignore the closing fees and other expenses associated with the purchase of the house. 9. If William decides to purchase the house, he will pay property taxes, home insurance, and private mortgage insurance. Unlike when renting, he would also be responsible for repairs and general maintenance of his house. In addition, the utility cost of the house is likely to be higher than that of his apartment. Estimate the above-mentioned costs per month. Add these costs to the monthly home loan payment to determine the total monthly expense of buying a house. Compare this number with the number calculated in part 7. 10. William realized that he was facing the classic buy-versus-rent decision. It is time for him to apply some of the analytical tools he had acquired in the Engineering Economics course. In the US, on average, the house price increases by 3 percent per year. Given his mortgage rate of 5%, William will lose money by purchasing the house. On the other hand, if he decides to continue to rent, he will lose the monthly rent. Conduct an incremental analysis using the IRR method to determine whether purchasing the house is economically advisable. For this analysis, you should consider the price of the house at the end of 30 years. Also, remember that William's personal MARR is 6% compounded monthly. Page 3 of 3 William needs to do some financial planning for which he has selected a 5-year time frame. At the end of 5 years, he'd like to have paid off his current student loan and credit card debt. Luckily, William received $10,000 as a signing bonus from his employer that he used to pay off the credit card debt. William saved the remaining $6000 to make a down payment on the purchase of a new vehicle. William also wants to accumulate $60,000 for a down payment on a house. In addition, William would like to put aside 10% of his take-home salary for retirement. Case Study Description William Sullivan just graduated with a bachelor's degree in engineering and landed a new job in Lafayette, IN with a starting annual salary of $76,000. There are a number of things that he would like to do with his newfound "wealth." For starters, he needs to begin repaying his student loans (totaling $32,000 ) and he'd like to reduce some outstanding balances on credit cards (totaling $4,000 ). William also needs to purchase a car to get to work and would like to put money aside to purchase a house in the future. Last, but not least, his current job doesn't provide any retirement benefits, therefore, William wants to put some money aside for his eventual retirement