Using the entrepreneurial venture of interest to you. If you recall, you chose one of the following:
A company where you work. ? A company where you want to work. You may choose a company from one of Inc.
Magazine's top 500 companies from 2011 just of interest for research. In addition to the resources shared in the text, you can research entrepreneurial websites such as https://www.inc.com/inc5000/2011/top-lists.html.
At the end of each Unit, prepare a report that answers the pertinent questions regarding the Unit content as it pertains to your selected entrepreneurial company.
The questions applying to Unit Four are:
a. Assume your venture of interest accepted a $330,000 mortgage over 30-years at 6.5 percent.
Calculate the monthly payment, the total paid as to extinguish the loan, and the amount of interest. Present the calculation and explain each step as if you were teaching someone how to understand their own mortgage.
b. Perform the same calculation but with a 20 year loan. Is the saving considerable? Why or why not?
c. Now for the tough question-can the venture of interest afford the monthly payments for either scenario? Why or why not? If they asked you about whether or not to accept the mortgages, what would you tell them?