Pre Calc Finance Project
By Isaac Romig
Scenario One
List of Income and Expenses
Net income after taxes: $35,000
Car payment: $450.02
Expenses: $1308
Monthly Budget: $2916.67
House and Payments
House I can afford: $330,812.89
Purchased a house for: $275,000
APR: 4.153%
My monthly budget minus my expenses totaled to $1608.67. When I purchased a home for $275,000 at 4.153% interest at a 30 year loan my monthly payments will be $1337.26. Over the course of the 30 years I would be paying $206,413.60 in interest. If I increased my monthly payment by 15% it would be $1537.85 and the mortgage would be paid off in 23.25 years saving me 6.75 years and $52353.45 in interest.
If I bought a dog?
Bibliography
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