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------------------------------------------------ As a fender, go through the information provided and determine if the clients qualify for their loan request. (set your calculator to two decimal points. Note there are questions that require you to use whole numbers and not enter the percentage sign) Jesiah and Cassandra Hamitton have been married for 2 years. They are presently living in an older home and have come to you seeking financing so that they can renovate their kitchen in their home. Jesiah has priced out the renovation project and brought in some written estimates. He estimates the cost of the renovation to be $27,500. Jesiah and Cassandra want to repay the loan over 5 years. Jesiah has taken a building construction course at NAIT is excited to use the skills he has leamed. The Hamilton's house is valued at $325,000. The mortgage was for $295,750 with a 5 -year term, amortized over 25 years at 2.52%. Please Calculate the Monthly Mortgage.Payment: (1 mark) They have made 24 payments on the mortgage. Please calculate the balance owing on the loan. (1 mark) This branch approved the mortgage. Taxes are $271 a month and heating is estimated at $175. They currently have $8,500 in a joint savings account at the branch. Neither of them contributes to an RRSP. Jesiah has clear title to some undeveloped property 80 miles west of Edmonton he inherited a few years ago. It is currently valued at $65,000. Eventually Jesiah would like to bulld a cabin on the property but realizes that this is a long term-goal. Jeslah pays about $54 a month on the taxes, Cassandra also has recently recelved an expensive painting from her grandmother valued at $17,500 with a certiflcate of authenticity. Jesiah, 29, has been working for RV World for 6 years. He grosses $82,310 annually as lead Heavy Duty Mechanic, much of this is overtime income. Jesiah has provided his Notice of Assessments for his income verification as you has requested (see attarhed) Cassandra. 25. is in her last year at the U of A. Cassandra works part-time at the U of A bookstore as a cashier she has This branch approved the morigage. Taxes are 5271 a month and heating is estirnated at 5175 . They currerthy have $0,500 in a paint savings account at the branch. Nether of them contributes to an RRSP. Jesiah has clear twe to some undeveloped property 30 mates west of Edmonton he inheited a few years ago. It is currently valued at 505,000 . Eventually Jestah would kke to build a cabin oil the property but realizes that this is a long term-goal. Jeslah pays about $54 a month on the taxes. Cassandra aiso has recently recelved an expensive painting from her grandinother valued at $17,500 with a certifcate of authenticity. Jesiah, 29, has been working for RV Wold for 6 years. He grosses $82.310 annually as lead Heany Duty Mechanic, much of this is overtime income. Jesiah has provided his Notice of Assessments for his income verificasion as you has recuested (see attached). Cassandra, 25 , is in her last year an the U of A. Cassandra works part-time at the U of A bookstore as a cashiet atio has provited a salary letier, she grosses approximatey $18,180 per year. Her managor informed her she was going to recotye a 4% increase next month. 40 monthe ago Jesiah bought a F.160 tor $44,500 and fnanced it wath a loan (from a compebtor) for $40,100 at 47 far 6 years compounded monthly. What is the monthyy truck payment? (t mark) What is the bajance owing today for the truck? (t maik) The current value of the F−150 is estimated to be $16,300. Equifax shows he has never missed a payment and contims tiat there are 32 months remaining on the instaliment loan. Ratings on their credit cards from Cosico (\$3,000 credit limit)R2, FBC VISA(\$3, 500 credit limit) are R3, and they have a Capital Cne MasterCard with a R3 rating(credit limit \$4,500). They both like the fner things in life, cards are continuousfy at the maximum credit limiss. The do have a The Bay credit card reporting on their credit bureau with a limit of $4,500 but nothing is currentily owing: Jesiah recently received an inheritance in the amount of $25,000. Currently he has it invested in a GIC. Jesiah does not want to access these funds at this time and would like the funds to remain as is. He is planning on using these funds in the future to purchase a cabin.