You have clients who are in the market for a new car and real estate. Both purchases require loans. The car purchase will be for an Electric Vehicle (EV). The cost of the vehicle is $60000 . This includes all taxes. They plan on paying 10% down and will require a loan for the rest. The loan will be for 5 years with a interest rate of 10%. Calculate the following: monthly payments, total interest on the loan. Create a loan amortization table. The real estate purchase is for a detached home in Hamilton, Ontario for $1000000. A down payment of $100000 will be required with the remaining amount to be financed with a five year mortgage amortized over 25 years at a rate of 6%. Calculate the following: monthly payments, total interest and principal paid after five years and the balance remaining Create a loan amortization table. All work should be submitted in a word document.
You have clients who are in the market for a new car and real estate. Both purchases require loans.
The car purchase will be for an Electric Vehicle (EV). The cost of the vehicle is $60000 . This includes all taxes. They plan on paying 10% down and will require a loan for the rest. The loan will be for 5 years with a interest rate of 10%.
Calculate the following: monthly payments, total interest on the loan.
Create a loan amortization table.
The real estate purchase is for a detached home in Hamilton, Ontario for $1000000. A down payment of $100000 will be required with the remaining amount to be financed with a five year mortgage amortized over 25 years at a rate of 6%.
Calculate the following: monthly payments, total interest and principal paid after five years and the balance remaining
Create a loan amortization table.
All work should be submitted in a word document.
A spreadsheet should be provided for the amortization table.
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