Finance Project
Mychal Masterson
Colwell
Scenario 3
Jenny went to college for two years, and then dropped out. Unfortunately, by the time she dropped out of college, she had $20,000 in student loans. She has been working as a bank teller for the last three years. Her salary is $40,000. She also has a car payment of $230 per month. She is excited to buy her first home.
"Duties"
Approximately 30% of your annual salary goes to taxes. Student loans must be paid back in 10 years. The current interest rate on a student loan is 6.8%. You will need to determine the monthly payment for any student loans and subtract from the monthly net income.
After Jenny's Duties
Buying a House
The Other Option
The House
Email: mpruett@remax.com
Website: http://www.remax-midstates.com/Home/7538-Santa-Fe-Drive-Overland-Park-KS-66204/HRT/1858797/
Location: 7538 Santa Fe Drive, Overland Park, KS 66204
Phone: (913)953-6188
References
(2013, December 31). RE/MAX: Property Search. Retrieved from http://www.remax-midstates.com/Home/7538-Santa-Fe-Drive-Overland-Park-KS-66204/HRT/1858797/.
(2013, December 31). 7538 Santa Fe Drive, Overland Park, KS 66204 [Monograph]. Retrieved from http://www.remax-midstates.com/Home/7538-Santa-Fe-Drive-Overland-Park-KS-66204/HRT/1858797/.
(2013, December 31). Bank tellers meet customers [Monograph]. Retrieved from http://woman.thenest.com/qualifications-bank-tellers-2243.html.