Finance Project Scenario 1
By: Iradiel Manzanilla Hour 1
My Life
My House
I found a house at $247,000 at a 4.29% interest rate to pay in 30 years. My monthly house payment will be $1,220.88. Over the course of the loan I will pay $439,517.71, in which $192,517.71 is interest. If I increased my monthly payment by 15% (My new payment would be $1,404.01) I would save...
14 years on my loan payment
and $280,015.75
Citations
Average Cost of Insurance: Car, Home, Renters, Health, and Pet (2015) (ValuePenguin)
http://www.valuepenguin.com/average-cost-of-insurance
Americans Spend $151 a Week on Food; the High-Income, $180 (Gallup.com)
http://www.gallup.com/poll/156416/americans-spend-151-week-food-high-income-180.aspx
Average Utility Costs Per Month: What’s Normal? (Apartment Ratings)
Prepaid Phones and No Contract Phones | NET10 Wireless (NET10 Wireless)
U.S. Energy Information Administration - EIA - Independent Statistics and Analysis (U.S. household gasoline expenditures in 2015 on track to be the lowest in 11 years)
https://www.eia.gov/todayinenergy/detail.cfm?id=19211
AT&T Internet Service - High Speed Internet Providers (AT&T Internet Service - High Speed Internet Providers)
https://m.att.com/shopmobile/internet.html
12220 Oakmont St Overland Park, KS 66213 (realtor.com®)