Kevin wants to open a small winery in 6 years time. The property he wants...

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Kevin wants to open a small winery in 6 years time. The property he wants to buy for this project is worth $24,300,000. He knows that hell need a 25% down payment for the property, and hes budgeting an additional $3,700,000 for renovations and dcor.1. Kevin can secure a high-yield investment that earns 10.8% compounded weekly, and he plans to make a deposit in the account at the beginning of every week. How much will he have to deposit every week if he wants to open the winery in 6 years?To take possession of the property, Kevin pays the down payment and secures a mortgage for the remaining balance at an interest rate of 3.1% compounded daily for 40 years.2. If the interest rate is constant over the 40-year term, and payments are made on the 15th day and at the end of every month, how much are Kevins semi-monthly payments? What will be the total interest paid on the winery over the term?When the renovations to the winery are finished (including the name Tickle Me Pink in stylish lettering on the front), Kevin is pleased to find that they were completed under-budget, costing him only $3,120,000 instead of the $3,700,000 he originally planned for.3. Kevin invests the surplus in another high-yield investment that earns 11.4% compounded semi-annually. How much is this investment worth in 15 years time?After 15 years of owning the winery, Kevins investment (from Question 3) matures, and he decides to use this balance to build an addition to his winery. He makes quarterly withdrawals from his investment account to finance this new venture.4. Kevin withdraws $150,000 at the end of every quarter for the first 6 years to establish and market the expansion. Afterwards, the withdrawals will lower to $110,000 at the end of every quarter. Throughout this period, the high-yield investment continues to earn 11.4% compounded semi-annually. What is the total length of time that Kevin will be able to make quarterly withdrawals for? Express your answer in years and months.Decades later, several years after the mortgage on the winery is paid off, Kevin decides to sell the winery and retire. He wants to purchase a luxury condo on the coast of the Mediterranean, and also invest in a fund that will allow him to live comfortably on $10,000 at the beginning of each two weeks in perpetuity.5. If the condo costs $2,100,000 to purchase outright (with no mortgage), and Kevin can secure an investment that earns 1.3% compounded weekly, what is the minimum amount he can accept for the sale of the winery?6. If Kevin sells his winery for $27,000,000, what will be the size of his perpetual biweekly payments instead?Marking CriteriaTaskMarksTitle/Introduction/Formatting/Spelling5Question 14Question 25Question 33Question 47Question 54Question 62

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