Lucinda Lacy purchased a house today for $107,000 by making a down payment of 10% of the purchase price and paying closing costs of: Loan origination fee 1.5% of purchase price Appraisal fee $350 Survey fee 200 Attorney’s fee 400 Processing fee 300 Escrow fee 225 Other miscellaneous costs 520 Lucinda has a mortgage loan with an interest rate of 3.9% APR, compounded monthly for 30 years. Her taxes and insurance are $352 per month. Lucinda has an estimate for a $11,500 firm, fixed price contract to remodel the house and this expense will be equally distributed over the period of her ownership. After remodeling, she estimates that she could sell the house for $137,500. Her selling expenses would be 7% sales commission plus $1000. Manual Assignment 1. Determine manually, by trial and error, Lucinda’s rate of return, if she owns the house for 6 months. Show the manual calculations, including the ball-park method. Note: show ALL handwritten manual calculations (including the value of the factors) of how you got the ROR in #1. Excel Assignment 2. Prepare an Excel Amortization chart that shows the first six months payments. 3. Prepare an EXCEL spreadsheet to determine Lucinda’s rate of return if she owns the house for 6 months. 4. Use the Excel spreadsheet to determine the ROR if Lucinda keeps the house for 6 months and the selling price is $130,000 instead of $137,500. 5. Use the Excel spreadsheet to determine the ROR if the sales price is $150,000 and the repairs take longer than expected and Lucinda keeps the house for 9 months before selling and the remodeling contract is for 9 months instead of 6. Show the equations for the EXCEL program.