Home for Two

Finance Project for PreCalc Scenario 1 & 2

Salary, Student Loan, Rational, and Car Payments

The annual salary that I had to work with was 70,000 plus 50,000 dollars per year. The monthly student loan was 402.78 dollars and the car payment was 325 plus 450 dollars a month. Per month I paid 471.58 on food, 687 on utilities, 693.33 on transportation, and 308.25 on other necessities. This left 3662.05 dollars a month to purchase a house. With this amount the maximum amount I could spend on a house would be 770,775.95 dollars.

Location and Cost of Home

The house is located at 8368 MAPLEWOOD Drive Lenexa KS, 66215. The house costs a total of 650,000 dollars which makes the Monthly payment equal 3088.23 dollars per month for 30 years. 15% of the monthly payment for the house is 3551.46 which means the house would be paid off in 23 years.