You currently live at Boardwalk and are considering taking a mortgage out on your property to pay off several rental properties that you own.The bank has approved you for a 12 year loan at 2.79% and up to $150,000 borrowed.Your goal would be to pay off 4 of your rentals.You currently have the following rental properties in your portfolio:

1.St Charles Place: 6.125% interest, 30 year, original loan amount 50,000.You just made payment #109

2.Marvin Gardens: 4.75% interest, 30 year, original loan amount 44,000.You just made payment # 116

3.Tennesse Ave: 6.75% interest, 10 year, original loan amount 52,000.You just made payment #77

4.States Ave: 5.75% interest, 15 year, original loan amount56,000.You just made payment #98

5.Virgina Ave: 6.25% interest, 30 year, original loan amount 48,000.You just made payment #116

6.St. James: 3.75% interest, 10 year, original loan amount 55,000.You just made payment #67

an amortization table

Use the payment(PMT) solver in excel to calculate payment.

For your solution I want to see a table with the following information.

Property name, current payment, outstanding balance, interest remaining, payment if we take new loan, interest paid if we take new loan,cash flow change in monthly payment, interest saved

As a business owner you want to review your options and see which one makes the most sense.

(required show all work)

1.Which combination of properties will result in the most amount of interest saved over the course of the loan?

2.Which combination of properties will result in the most benefit in cash flow today?

Remember......there is a limit to the amount that you can borrow.