Harper's New Home

Finance Project for PreCalc Scenario 2

Salary, Student Loan, Rational, and Car Payments

The annual salary that I had to work with was 70,000 dollars per year. The monthly student loan was 402.78 dollars and the car payment was 325 dollars a month. Per month I paid 257.25 on food, 534 on utilities, 380.75 on transportation, and 177.25 on other necessities. This left 2006.30 dollars a month to purchase a house. With this amount the maximum amount I could spend on a house would be 422,279.27 dollars.

Location and Cost of the House

The house is located at 15808 S Widmer Street Olathe KS, 66062. The house costs a total of 300,000 dollars which makes the Monthly payment equal 1425.34 dollars per month for 30 years.15% of the monthly payment for the house is 1639.14 which means the house would be paid off in 23 years.