PART1-Johnston - 4,060 4,110 Net Cash Flow (110) 4,140...

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Jackson Family Budget Author Dustin Johnston Date 7/22/2010 Purpose To evaluate two mortgage proposals based on projected income and expenses
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Jackson Family Budget Mortgage Plan (1 or 2) 1 Year-End Summary Sum Average Maximum Minimum Pay Simon 50,400 4,200 4,200 4,200 Ellen 36,800 3,067 4,700 500 Total 87,200 7,267 8,900 4,700 Expenses Taxes 27,200 2,267 2,800 1,500 Car Payments 2,580 215 215 215 Health Insurance 5,940 495 495 495 Other 18,800 1,567 5,600 600 Mortgage - - - - Total 54,520 4,543 8,410 3,410 Net Cash Flow 32,680 2,723 4,790 (1,710) Monthly Values January February March April Simon 4,200 4,200 4,200 4,200 Ellen 3,500 3,900 4,300 4,700 Total 7,700 8,100 8,500 8,900 Taxes 2,400 2,500 2,600 2,800 Car Payments 215 215 215 215 Health Insurance 495 495 495 495 Other 4,700 750 750 600 Mortgage Total 7,810 3,960
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Unformatted text preview: 4,060 4,110 Net Cash Flow (110) 4,140 4,440 4,790 Mortage Plan 1 Annual Rate 6.70% Mortage Plan 2 Compounded 12 Monthly Rate 0.56% Years 30 # of Payments 360 Principal 315,000 $2,032.63 May June July August September October 4,200 4,200 4,200 4,200 4,200 4,200 2,800 2,200 500 2,500 2,700 3,200 7,000 6,400 4,700 6,700 6,900 7,400 2,200 2,000 1,500 2,100 2,100 2,300 215 215 215 215 215 215 495 495 495 495 495 495 700 700 1,500 5,600 600 700 3,610 3,410 3,710 8,410 3,410 3,710 3,390 2,990 990 (1,710) 3,490 3,690 Monthly Payment Annual Rate Compounded Monthly Rate Years # of Payments Principal November December 4,200 4,200 3,400 3,100 7,600 7,300 2,400 2,300 215 215 495 495 1,000 1,200 4,110 4,210 3,490 3,090 Monthly Payment...
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This note was uploaded on 06/20/2011 for the course COM 363 taught by Professor ? during the Spring '10 term at Sam Houston State University.

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PART1-Johnston - 4,060 4,110 Net Cash Flow (110) 4,140...

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