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SmithFamilyBudget.xlsx - Smith Family Budget Author Date...

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Smith Family BudgetAuthorMarques FajardoDate1/24/2022PurposeTo evaluate two mortgage proposals based on projected income and expensesConclusionMortgage OneUnder which mortgage does the Smith family achive their goal? (WriteMortgage Oneor
Mortgage Two)
Smith Family BudgetMortgage Plan (1 or 2)1Year-End SummarySumAverageMaximumMinimumPayGlenn56,4004,7004,9004,500Diane39,0003,2504,7001,000Total95,4007,9509,2005,900ExpensesTaxes27,8002,3172,8001,800Car Payments5,400450450450Health Insurance9,540795795795Other20,6751,7235,600800Mortgage16,8241,4021,4021,402Total80,2396,68710,4475,447Net Cash Flow15,1611,2632,953(2,847)Monthly ValuesJanuaryFebruaryMarchAprilMayPayGlenn4,5004,5004,5004,5004,500Diane3,7003,9004,3004,7003,100Total8,2008,4008,8009,2007,600ExpensesTaxes2,4002,5002,6002,8002,200Car Payments450450450450450Health Insurance795795795795795Other4,7001,050950800875Mortgage1,4021,4021,4021,4021,402Total9,7476,1976,1976,2475,722Net Cash Flow(1,547)2,2032,6032,9531,878
Mortage Plan 1Annual Rate4.25%Mortage Plan 2Annual RateCompounded12CompoundedMonthly Rate0.354166667%Monthly RateYears30
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Term
Fall
Professor
Fang
Tags
Income Statement, Payment, Credit card, Smith family

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