Please upload Excel
. You decide to purchase the rental property from Project 1. Use the provided Excel template to perform the following tasks: 1. On the Amortization tab of the spreadsheet, calculate your down payment, your monthly payment and create a loan amortization table for the life of the loan. Review to the loan amortization tutorial in D2L. Note the total interest you paid at the bottom of the table. You must show your work by using formulas in Excel. For detailed help on Amortization, view the Amortization Example Video located in the Table of Contents -> Learning Modules -> Week 3 area of D2L. 2. On the Closing tab of the spreadsheet, complete the Buyer's and Sellers' closing statements based on the following data: On June 15, Wilbur and Wilma Wildcat (Sellers) listed their Flagstaff rental property for $285,000 with Re/Max Peak Properties and agreed to pay a 6% commission on the sale price. They have a mortgage for $140,000 remaining on the home. You offered $270,000 and Wilbur and Wilma accepted the offer. At that time, you put down $1,000 of earnest money. You will put 20% down and finance the rest through Bear Down Bank with a 15-year mortgage at a fixed rate of 4.75%. The sale will close on July 1st at which time you will take possession. Bear Down requires a loan origination fee of 1% of the value of the loan along with a property appraisal which will cost $400 and a credit report at a cost of $25. Property taxes for the current year were $1,264 and were paid in full by the Sellers. The Buyer's title insurance policy will cost $800, and the Sellers' title insurance policy will be $1,690. Homeowner's insurance will cost the Buyer $1,586. Recording the deed will cost $50 (equally split between the Buyer and Sellers). Endorsements of $150 would be paid by the Buyer. Courier fees will be $25 for the Buyer and $25 for the Sellers. All prorations are based on a 30-day month. Calculate the costs to the Buyer and the Sellers as a percentage of the purchase/sales price. . . . . . You decide to purchase the rental property from Project 1. Use the provided Excel template to perform the following tasks: 1. On the Amortization tab of the spreadsheet, calculate your down payment, your monthly payment and create a loan amortization table for the life of the loan. Review to the loan amortization tutorial in D2L. Note the total interest you paid at the bottom of the table. You must show your work by using formulas in Excel. For detailed help on Amortization, view the Amortization Example Video located in the Table of Contents -> Learning Modules -> Week 3 area of D2L. 2. On the Closing tab of the spreadsheet, complete the Buyer's and Sellers' closing statements based on the following data: On June 15, Wilbur and Wilma Wildcat (Sellers) listed their Flagstaff rental property for $285,000 with Re/Max Peak Properties and agreed to pay a 6% commission on the sale price. They have a mortgage for $140,000 remaining on the home. You offered $270,000 and Wilbur and Wilma accepted the offer. At that time, you put down $1,000 of earnest money. You will put 20% down and finance the rest through Bear Down Bank with a 15-year mortgage at a fixed rate of 4.75%. The sale will close on July 1st at which time you will take possession. Bear Down requires a loan origination fee of 1% of the value of the loan along with a property appraisal which will cost $400 and a credit report at a cost of $25. Property taxes for the current year were $1,264 and were paid in full by the Sellers. The Buyer's title insurance policy will cost $800, and the Sellers' title insurance policy will be $1,690. Homeowner's insurance will cost the Buyer $1,586. Recording the deed will cost $50 (equally split between the Buyer and Sellers). Endorsements of $150 would be paid by the Buyer. Courier fees will be $25 for the Buyer and $25 for the Sellers. All prorations are based on a 30-day month. Calculate the costs to the Buyer and the Sellers as a percentage of the purchase/sales price
