Question 1 calculate the month mortgage payment.

You are planning to purchase a $850,000 Condominium in NYC. You were able to put 30% down and obtain a 30 years fixed rate mortgage at 3.5%.

What I your monthly payment? (please show clear calculation)

Quest 2 calculate the Grow at a Constant Rate:

You are planning to open the fast food restaurant with you friend. The business will estimate in business for 30 years. It will estimate to produce $250,000 at the first year and discount rate 14%. The cash flows will estimate to grow at 3.5% per year.

What is the estimate value of the fast food restaurant for 30 years (please show clear calculation)