Algebra 2 Hot Wheels Project

Hour 5 O'Connell

Given Salary

$40,000

Yearly/Monthly Budget

  • Taxes: $10,000/$833.33
  • Housing: $14,000/$1,166.66
  • Food: $6,000/$500
  • Savings: $2,000/$166.67
  • Medical: $12,000/$100
  • Miscellaneous: $800/$66.67
  • Transportation: Payment- $4,000/$333.33 Other- $2,000/$166.67

Car Payment

  • Yearly: $4,000
  • Monthly: $333.33

What I can afford

2014 Fiat 500L

The Car I found costs a total of $17,495.


Fiat of Olathe. Retrieved from http://www.fiatusaofolathe.com/new/FIAT/2014-FIAT-500L-1c0988010a0a00651d0f49965ef0e49e.htm

Minimum Monthly Payments

What I Will Actually Spend on the Car Over the Course of the 5 Year Loan

I will spend a total of $19,213.20 over the course of the 5 year loan.

Bonus Question