James Albemarle created a trust fund at the beginning of 2016. The income from this fund will go to his son Edward. When Edward reaches the age of 25, the principal of the fund will be conveyed to United Charities of Cleveland. Mr. Albemarle specified that 75 percent of trustee fees are to be paid from principal. Terry Jones, CPA, is the trustee.

James Albemarle transferred cash of $330,000, stocks worth $230,000, and rental property valued at $165,000 to the trustee of this fund.
Immediately invested cash of $275,000 in bonds issued by the U. S. government. Commissions of $4,500 are paid on this transaction.
Incurred permanent repairs of $7,300 so that the property can be rented. Payment is made immediately.
Received dividends of $4,600. Of this amount, $1,300 had been declared prior to the creation of the trust fund.
Paid insurance expense of $2,300 on the rental property.
Received rental income of $8,300.
Paid $4,600 from the trust for trustee services rendered.
Conveyed cash of $5,300 to Edward Albemarle.
Prepare all necessary journal entries for the trust to record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.