Pre-Calc Finance Project: Scenario 3 - Hour: 4

Casa de Lauren

House Loan Info

House Cost: $90,000

No Down Payment

Interest Rate: 2%

Paid Over: 30 years (monthly)

Monthly Payment: $332.66


Located At: 6630 W 109th Street, Leawood, KS

House Loan: After Monthly Payment Increases by 15%

House Cost: $90,000

No Down Payment

Interest Rate: 2%

Paid Over: 24.91

Monthly Payment: $382.56


Time Saved: 5.09 years

Money Saved: $5402.76

Car Loan Info

2008 Chevrolet Malibu


Cost: $10,600

Interest Rate: 4.78%

Paid Over: 10 years (monthly)

Monthly Payment: $198.97



Car Loan Info: After Monthly Payment Increases by 15%

2008 Chevrolet Malibu


Cost: $10,600

Interest Rate: 4.78%

Paid Over: 4.28 years (monthly)

Monthly Payment: $228.82


Time Saved: 5.72 years

Money Saved: $12124.20



Student Loan Info

Student Loan: $20,000

Interest Rate: 6.8%

Paid Over: 10 years (every month)

Monthly Payment: $230

Student Loan: After Monthly Payment Increases by 15%

Student Loan: $20,000


Interest Rate: 6.8%

Paid Over: 8.25 years (monthly)

Monthly Payment: $264.50


Time Saved: 1.75 years

Money Saved: $1414.50

Salary After Taxes & Food Costs (not with 15% difference & food costing $400) : $18,848.08

Citations

Merrigan, P. (2013, June 15). Remax. Retrieved from http://www.remax-midstates.com/Home/6630-W-109-Street-Overland-Park-KS-66211/HRT/1820619/

Ancona, F. (n.d.). Home frank ancona honda. Retrieved from http://frankanconahonda.com