Follow the attachment to solve this assignment. i need it done within 20 hours from now.
Calculate the cost of buying a home.
ENGR 360 Economic Analysis
￼P1 Buying a House
Submit a clear and concise professional report.
There are two key values that you must calculate and present clearly:
(1) the total amount of money you will need the day you sign (down payment plus closing costs), (2) the total amount1 of money you will pay each month
(a) to pay back the loan [hint: (A/P, r/m, mn)], (b) property taxes,
(c) home owner’s insurance, and
(d) mortgage insurance.
To calculate these values you will need to find estimates for the items in Table 1. You can get your estimates by calling a bank, real estate agent, or title company; asking a friend or family member; looking on the internet; or any other way you want. In your report, you must show the estimates for all the items in Table 1 and your source.
Create the amortization schedule for the loan using excel (Submit your excel file by email). In your report include the first 5 and last 5 rows of the amortization schedule.
Also, just for fun, provide a photo of the home, a map or address, and a brief explanation of why you like the home.
* Note that 4 out of 10 points on each project are for the quality of your report. Please refer to the example on the class webpage or consult the instructor for information about making professional, high quality reports. You can name and organize the sections of your report any way you want, but at least include an “Introduction” and “Conclusion.” Give all figures and tables a title and refer to them in the text before they are shown. Tables must have column headings.
1 Often a person will pay the loan payment, property taxes, home owner’s insurance, and PMI all together to their lender and then the lender pays them out to the recipients, i.e. the county and insurance companies. It is also possible to pay these items yourself directly to the recipients.
￼Poor ￼ ￼ Perfect!
Is the required content complete and appropriate?
0 1 2 3 Are the calculations correct?
Is it in report format (with headings, pg #s, Tbls and Figs, etc.)?
0 1 Is the text clear, concise, and free of grammatical errors?
How does it compare with the best looking report in the class?
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