CAN SOMEONE PLEASE ANSWER THIS URGENTLY!!! John and Jane had planned to save $50,000 dollars over the next five years as a down payment on a house. Jane assured John that if they contributed $850 each month to a savings account that pays an annual rate of interest of 2.5% compounded monthly that they would have enough money to put a down payment of $50,000 on their new house. Wanting their daughter to have a house sooner than later, Janes parents (The Henrys) have offered to lend John and Jane $60,000, which they have suggested (perhaps naively) John and Jane pay back by contributing to a savings account in the Henrys name as per Janes original savings plan. Johns worried this is not fair to his in-laws. Is he correct? If so, devise a fair repayment plan that would see the Henrys repaid at a rate of 2.5% compounded monthly over the 5 years.

ANSWER THE SECOND HALF! Please!

The Does have qualified for a mortgage of $500,000 to be amortized over 25 years. Their mortgage broker has offered them the following options: Two consecutive 5-year terms with a fixed rate with monthly payments at an annual interest rate of prime+1% compounded monthly A single 10-year fixed rate term with biweekly payments at an annual interest rate of prime+1.25% compounded annually Prime is currently at 1.5% and projected to increase by 0.25% every year for the next 10 years. Note: the interest rate for fixed rate mortgages is set at the beginning of the term using the current prime rate and remains fixed for the duration of the term; the interest rate for variable rate mortgages is set at the beginning of each year using the current prime rate. Which Mortgage terms should they accept given that their goal is to pay as much principle as possible over the next 10 years?