VERY Cozy Cottage in OP!

Hour 7 Mrs. Colwell Precalc Project (number 2)

The monthly payment for this house is 2855.55 a month.

To get this number we first had to take the annual payment, 70,000, and multiply by .7 because there was a 30% tax on her income. This gave me the number 49,000. Factoring in the car payment of 325 a month, and the student loans of 402.78 which gives us a monthly payment of 2855.55 for whatever house we need to buy. The given rate for a 30 year fixed loan is a 4.625%. This means that the maximum house I could afford would be around 555,000. So, I started looking around on Reece&Nichols and found the house I liked. I hope you enjoy it too!


If the monthly payment for the house was 15% higher, The value for every month would be 3092.80. Thus, when we add this to the formula instead of the old amount, the overall time Harper would save is 70 months or around 6 years. The overall amount in money she would save is 55,220.45.


But first, here is the formula I used to get the number for the maximum house payment I could afford. It is the first picture of the three.

More pictures from around the house!

Thank you for reading!