Finance Project (Scenario 2)

Jordan A. Vorndran

Harper's Finances

Salary: $70000.00
  • After 30% Tax: $4083.33
Car Payment: $325.00 (per month)
Student Loans: $3500.00
  • Student Loan Payment: $402.78


Monthly Budget:

  • Car Insurance: $49.19
  • Food: $283.28
  • Student Loans: $402.78
  • Utilities: $115.00
  • Cell Phone: $71.00
  • Gas/Transportation: $389.00
  • Other/Entertainment: $427.00

Total Monthly Expenses: $1737.25


(Possible Monthly) Budget for a House: $2346.10

Mortgage Interest: 3.98%

Harper can afford: $492605.98


Harper will buy the house on 14845 Meadow Lane, Leawood, KS, 66224 for $329000.00


Actual Monthly Payment: $1566.90

Over the Course of the Loan: $235084.00 in interest


If Harper increased her monthly payment by 15%, she would save...

  • New Payment: $1801.94
  • How Long to Pay Off New Amount: 23 years and 4 months (23.41)
  • Difference in Total Amount Paid: $57883.02



Buying Frankie!! (The Cat): $50.00

  • Litter Box: $25.00
  • Cat Food: $62.28
  • Cat Toys: $30.00
  • Litter: $30.00
  • Vet/Vaccines: $250.00

Total (for the first Year): $447.28

Sources