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File Edit View Insert Format Debug Run Tools Window 0 51% Thu 9:18 PM Q DE AutoSave ( OFF ~ ~ 6 - MCase study 2020 Home Insert Draw Page Layout Formulas Data Review View Share Comments A A 29 Wrap Text v Insert v Delete v Paste BIUV V |av AV Merge & Center v $ ~ % 9 08 40 Conditional Format Cell Formatting as Table Styles [Format X v Sort & Find & Ideas Sensitivity Filter Select Office Update To keep up-to-date with security updates, fixes, and impro Mortgage Calculations Check for Updates C17 + X V fx Instructions Section Value: 13 B Please determine the amortization for the following two payment frequencies using the mortgage amount: $412088.4. Submit Answers G H K L STUDENT INFORMATION Monthly PMT from Section 4 - 2 FIRST NAME (HINT: Solve for N and adjust your mortgage payment from 2443.22 LAST NAME section 4.MAKE SURE YOUR PMT IS NEGATIVE.) A STUDENT ID Mortgage Rate As % (1/Y)- Present Value of Loan (PV - Value At End of Loan (FV) Section | 3.75 6 Question 1: Question 1: Question 2: 8 Section Il Payment Frequency 1 Formulas for coverting Payment Frequency 2 9 Question 2: DOWN payment frequencies 10 Question 3 TOTAL M Weekly are in Chapter 7 of Accel. Bi-Weekly your textbook. 11 Section Ill C/Y- P/Y C/Y 12 Question 4: CM 13 NEW Number of Periods (N) - Number of Periods (N) 14 SECTION IV 15 Question 5: 16 FILL OUT COMPLETELY - Payment (PMT) Payment (PMT) 17 18 19 Amortization in Years (2 Decimals Amortization in Years (2 Decimals 20 21 22 23 P2 43 24 BAL OUTSTANDING 374538.66 25 TOTAL PRN 37549.74 26 TOTAL INT 38190.21 A OPEN CASE HERE + - + 100% 5File Edit View Insert Format Debug Run Tools Window 0 51% Thu 9:18 PM Q DE AutoSave ( OFF ~ ~ 6 - MCase study 2020 Home Insert Draw Page Layout Formulas Data Review View Share Comments A A" 29 Wrap Text v Insert v Delete v Paste BIUV V AV AV Merge & Center v $ ~ % 9 08 40 Conditional Format Cell [Format X v Sort & Find & Ideas Sensitivity Formatting as Table Styles Filter Select * Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates C17 + X V fx B D F G H K L STUDENT INFORMATION Section 7 - Property Tax 2 FIRST NAME Mohar - Instructions The City of Edmonton has assessed your property LAST NAME Ikar at a value of $434120.33 and the Mill Rate is 8.6869. What are the Annual and Monthly A STUDENT ID property tax amounts? Section | 6 Question 1: PRICE - Annual Property Tax Amount Monthly Property Tax Amount MLSID 8 Section Il Instructions 9 Question 2: DOWN PAYMENT You will be getting possession of the home on July 10 Question 3 TOTAL MORTGAGE 1 st. What will the property tax adjustment be? Who will have to pay? 11 Section Ill 12 Question 4: CMHC PREM 13 NEW MORTAGE Adjustment Amount Who Pays Adjustment? 14 SECTION IV SPRING207 15 Question 5: P/Y Section Value: 6 16 FILL OUT COMPLETELY CIY 17 N Submit Answers 18 I/Y 3.75 19 PV 412088.4 20 PMT 2443.22 21 FV 871371.54 22 P1 23 P2 43 24 BAL OUTSTANDING 374538.66 25 TOTAL PRN 37549.74 26 TOTAL INT 38190.21 A OPEN CASE HERE + - + 100% 5File Edit View Insert Format Debug Run Tools Window 0 51% Thu 9:18 PM Q DE AutoSave ( OFF ~ ~ 6 - MCase study 2020 Home Insert Draw Page Layout Formulas Data Review View Share Comments A A" 29 Wrap Text v Insert v Delete v Paste BIUV V AV AV Merge & Center v Conditional Format Cell Formatting as Table Styles [Format X v Sort & Find & Ideas Sensitivity Filter Select Office Update To keep up-to-date with security updates, fixes, and improvements. choose Check for Updates. Check for Updates Section 8 - Qualification C17 + X V fx B Part 1 With your Annual Income of: $135444.71 and the figures you already F G H K L STUDENT INFORMATION determined for a Stress Tested Monthly Mortgage Payment, and Property Tax of $3142.63, calculate Gross Debt Service Ratio. Assume the cost of 2 FIRST NAME heating the home will be $201.85. Do you qualify to purchase this home based on GDS Ratio? If not, what is the income that you would require? LAST NAME A STUDENT ID Total Monthly GDS Expenses - GDS Ratio as a % | ie: 3.45% - -Do they Qualify on GDS?- Yes Section | 6 Question 1: MI 8 Section Il . Part 2 9 Question 2: DOWN PAYM If you have consumer debt servicing in the amount of $1032.63 per month. 10 Question 3 TOTAL MORTG. What is the the TDS ratio? Do you qualify for the purchase based on this number? If no, what is the income required to qualify? 11 Section Ill 12 Question 4: CMHC PF 13 NEW MORT - Total Monthly TDS Expenses - TDS Ratio as a % | ie: 3.45% Do they Qualify on TDS? 14 SECTION IV Yes 15 Question 5: 16 FILL OUT COMPLETELY 17 18 19 20 Section Value: 9 Submit Answers 21 22 P1 23 P2 43 24 BAL OUTSTANDING 374538.66 25 TOTAL PRN 37549.74 26 TOTAL INT 38190.21 A OPEN CASE HERE + - + 100% 5