Select the number for each question to fill in the drop down list box. For example, "PV Use" select whether it is 1,2,3,4,5,6, or 7. Do this for the rest of the problems. Thank you.

You are a professional real estate investor, and you are considering the acquisition of a "distressed property" which is on Covina Bank's REO list. The property is available for purchase for $400,000 and you believe that you can take a $320,000 interest-only loan at 6 percent interest requiring monthly payments. You also estimate that the property will require $32,000 total for maintenance, landscaping, and renovations during the next year, spread out evenly over the months. Future selling expenses for the property are estimated to equal $9,000. Title search and inspection would cost a total of $1,000 upon the purchase. Case 1: If you plan to sell the property 1 year from today, and if you require an 15% annual return (in nominal not effective terms), how much would you need to sell it for? To answer this question you will need to first do the following: For PV use For PMT use For N use For I/Y use CPT [Select ] V [ Select ] [ Select) [ Select] [ Select] #10 0 0 0.5 NPV #2 1 000 4 266.67 1 1.25 FV #3 80 000 51 200 12 6 PV #4 81 000 -4 266.67 15 #5 -1 000 -51 200 #6 -80 000 #7 -81 000 Then, add [Select] (pick a number from the table below that corresponds to the amount you'll need to add) to your answer: #1 348 200 #2 329 000 #3 320 000 #4 19 200 #5 9 000 The required selling price in 1 year will equal (Select] (Pick a number from the table below that corresponds to your answer.) #1 $116,549 #2 $116,947 #3 $148,892 #4 $160,747 #5 $170,910 #6 $181,616 #7 $363,947 #8 $366,549 #9 $477,892 #10 $490.747 #11 $579,910 #12 $591,616 Case 2: What will be the required selling price if you sell the house not 1 year, but 2 years from today? Assume you will need to keep paying for the loan, maintenance, landscaping, and renovations expenses throughout the additional year. Your answer is [Select] (Pick a number from the table below that corresponds to your answer.) #1 $429,643 #2 $429,868 #3 $556,698 #4 $586,094 #5 $659,898 #6 $688,003 You are a professional real estate investor, and you are considering the acquisition of a "distressed property" which is on Covina Bank's REO list. The property is available for purchase for $400,000 and you believe that you can take a $320,000 interest-only loan at 6 percent interest requiring monthly payments. You also estimate that the property will require $32,000 total for maintenance, landscaping, and renovations during the next year, spread out evenly over the months. Future selling expenses for the property are estimated to equal $9,000. Title search and inspection would cost a total of $1,000 upon the purchase. Case 1: If you plan to sell the property 1 year from today, and if you require an 15% annual return (in nominal not effective terms), how much would you need to sell it for? To answer this question you will need to first do the following: For PV use For PMT use For N use For I/Y use CPT [Select ] V [ Select ] [ Select) [ Select] [ Select] #10 0 0 0.5 NPV #2 1 000 4 266.67 1 1.25 FV #3 80 000 51 200 12 6 PV #4 81 000 -4 266.67 15 #5 -1 000 -51 200 #6 -80 000 #7 -81 000 Then, add [Select] (pick a number from the table below that corresponds to the amount you'll need to add) to your answer: #1 348 200 #2 329 000 #3 320 000 #4 19 200 #5 9 000 The required selling price in 1 year will equal (Select] (Pick a number from the table below that corresponds to your answer.) #1 $116,549 #2 $116,947 #3 $148,892 #4 $160,747 #5 $170,910 #6 $181,616 #7 $363,947 #8 $366,549 #9 $477,892 #10 $490.747 #11 $579,910 #12 $591,616 Case 2: What will be the required selling price if you sell the house not 1 year, but 2 years from today? Assume you will need to keep paying for the loan, maintenance, landscaping, and renovations expenses throughout the additional year. Your answer is [Select] (Pick a number from the table below that corresponds to your answer.) #1 $429,643 #2 $429,868 #3 $556,698 #4 $586,094 #5 $659,898 #6 $688,003