Harper's Journey into Adulthood
Elora Sommerauer Hour 1
Harper's Money Life
Salary of $70,000
Paying off $35,000 in student loans.
Car payment of $325 per month.
After tax: $49,000
Per month: $4,083.33
Student loan payment: $402.78 per month
Car insurance: $49.17
Student loan: $402.78
Cellphone: $71 per month
Total monthly expenses: $1,737.23 per month
Budget for House: $2,346.10 possible monthly budget
Mortgage interest rate: 3.98%
Harper can afford: $492,605.98
· Harper will purchase a townhouse on 14845 Meadow Lane, Leawood, KS 66224 for $329,000
Actual Monthly payment on the house: $1,566.90
Over the course of the loan Harper will pay: $235,084 in interest.
If Harper increased her monthly payment by 15%, she would save…
New payment: $1,801.94
How long will it take Harper to pay off the new amount?
It will take 23 years and 4 months to pay off the new amount.
Difference in total amount paid: $57,883.02
Harper buys a Cat from Wayside Waifs: Frankie is $50
Litter box- $25
Kitty Litter- $30
Cat food- $62.28
Cat toys- $10
Vet bills- $250
Total: $ 427.28 a year
Tuttle, B. (2012, October 18). Why You're Probably Paying Double the 'Average' Cell Phone Bill. Retrieved December 8, 2015, from http://business.time.com/2012/10/18/47-a-month-why-youre-probably-paying-double-the-average-cell-phone-bill/
Average amount spent on groceries for one person per month. (n.d.). Retrieved December 8, 2015, from http://www.loweryourspending.com/average-amount-spent-on-groceries-for-one-person-per-month.html
How much is the average monthly car insurance premium payment? (2015). Retrieved December 8, 2015, from http://www.carinsurancecomparison.com/what-is-the-average-monthly-car-insurance-payment/
Vohwinkle, J. (2014). Poll: How Much Do You Spend on Utilities Each Month? Retrieved December 8, 2015, from http://genxfinance.com/poll-how-much-do-you-spend-on-utilities-each-month/
Statistic Brain. (2015). Retrieved December 8, 2015, from http://www.statisticbrain.com/what-consumers-spend-each-month/
Mortgage Interest Rate:
Find the best mortgage rates in Kansas. (n.d.). Retrieved December 8, 2015, from http://www.bankrate.com/kansas/mortgage-rates.aspx
14845 Meadow Ln, Leawood, KS 66224 | Zillow. (n.d.). Retrieved December 9, 2015, from http://www.zillow.com/homes/for_sale/Leawood-KS-66209/townhouse_type/2102847105_zpid/87125_rid/1-_beds/2-_baths/200000-_price/739-_mp/priced_sort/38.929068,-94.582114,38.871022,-94.693694_rect/13_zm/?3col=true
Wayside Waifs Cat:
Pet_details_cat - Wayside Waifs. (n.d.). Retrieved December 10, 2015, from http://www.waysidewaifs.org/site/PageServer?pagename=Pet_detail_cat_new&petid=30134646