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I need compute this on an Excel spreadsheet. You are being presented with the quot;opportunity of a lifetimequot;.
I need compute this on an Excel spreadsheet.
You are being presented with the "opportunity of a lifetime". It is a note receivable secured by a second mortgage on a house and two lots in Las Vegas, Nevada. The two very attractive features of this specific note are a stated 12% annual interest rate and the obligors have never missed a payment or even presented a payment late. The note has an attached cosigner who is extremely wealthy. We are looking for a single lump sum purchase (payment), assume you have sufficient funds in the bank earning a reasonable 3.5% annual interest rate that could be easily accessed penalty free.
Details of the Note:
Original Date: January 11, 2013
Original Amount: $131,454.10
First payment due: February 11, 2013
84 payments of $1163.11 including interest (Ignore Taxes and Insurance). And a final payment.
Final payment Due: February 11, 2020 Amount Due:_____________________
Other:
Principal Balance on December 11, 2017 ______________________________
Principal Balance on December 12, 2017 ________________________________
Maximum amount you are willing to pay for the Note: ________________________
Minimum amount you are willing to pay for the Note: ________________________
