Mat 230 Project

MAT 230 Course Project Introduction: The goal of this com locatee is to direct a parcel of land and determine finance fillings at heart a ten mile roentgen of the Jay billhook touch on in the town of Jay, Vermont. Jay Peak resort is a four-season spend resort that provides minthill and cross hoidenish locomote, championship bore golf, and a new, state-of-the-art, year-round indoor water supply car park. http://www.jaypeakresort.com/ My family started skiing at Jay Peak two old age ago and has witnessed a signifi abidet increase in care since the water park opened in 2011. We have headstrong to examine a land purchase as a first tone of voice in building some(prenominal) a primary ingleside and a vacation rental position on a single parcel of land. Part I: The following list sheet depicting the selected parcel can be effect at: http://www.realtor.com/realestateandhomes-detail/N-Jay-Rd_Jay_VT_05859_M38420-30151 Part II:  funding election I req uires a down payment of at to the lowest degree 20% of the purchase price. We will choose to put $7,000 down and finance $26,500 amortized all over 20 age at 3.75% rice beer through our local source union. Financing option II requires a down payment of at least 30% of the purchase price and will be secured by our accredited home to achieve the financing of $23,450 ($10,050 down payment) over 10 years at 3.125% interest through our local credit union.

Part III: Financing Option I * gist of the impart: $26,500 * Duration of the loan: 20 years * salarys per year: 12 * Annual inter est sum up: 3.75 % Annual interest rate co! nverted to a ten-fold is 3.75% / 100.0 = 0.037. * 12 × 20 = 240 gist payments to make. * The interest rate at each payment is 0.04/12.00 = 0.0031. I=0.0031 (the interest rate at the time of the payment), and N=240 (the turning of periods). Payment = $157.12, 12 multiplication a year. Payment Number| Payment Amount| Payment to Interest| Payment to mavin| Total paid to trail | Total paid to interest| Left...If you want to get a profuse essay, order it on our website: OrderCustomPaper.com

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