You make $15,000 monthly. 180,000 anually the house is 365,000. The tax rate in the city is 0.336%

The property tax is 2,053 and homeowners insurance is 2,2094

Need answers for 1,2,3,4,5,6 and for problem 5 instead of two months it's six

The project for this class revolves around making a financial decision by employing some of the major concepts and applications covered in the class. Assume that you are currently employed. You expect a 5 percent annual increases in your salary. Assume also that all your taxes and deductions place you on a flat 20 percent tax rate. Your plan is to buy your first house five years from now at a projected price of one and half times your annual salary at the time of purchase. You start now to set aside S613 every month in an account that will earn 12 percent nominal rate annually in order to accumulate enough money for a reasonable down payment. You have been pre-approved for a 5-year, 12 percent conventional mortgage loan( based on the estimates of your income and everyday expenses which include the house purchase) provided that your debt ratio does not exceed 30 percent at the time of actual purchase and financing. The mortgage agreement will require that ll provide evidence of a homeowner's insurance coverage. Additionally, you will be responsible for your property taxes. These must be determined by you from an insurance agent and the County office respectively at the time of purchase and factored into the purchase decision to determine eligibility) Just six months into your mortgage payment, you win a lottery jackpot and decide to pay off your mortgage loan. l. Project your annual salary and take home pay for the next five years. 2. Project the amount of money in the savings account for your down payment in five years. 3. Prepare and income/expenditure statement and show your debt ratio. 4. Project the price of your house in five year and the amount financed to be financed after the down payment. 5. Prepare your amortization statement until the mortgage is paid off after two months. 6. Show your total monthly house payment which will include your property taxes and insurance. Assume that you are paying your annual property taxes and annual insurance premium on a monthly basis. Your completed work should be typed, double spaced, 12 font. The paper should also contain all your references if any. All the pertinent information should be explicitly expressed