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Week Four Discussion 1

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1. Week Four Discussion 1 This Discussion directs students to analyze a financial plan that realistically portrays a typical budgeting scheme. Students will calculate a mortgage payment and the effects of interest and financing on their budget. Select the first three letters of your last name. Each letter has a numerical place value in the alphabet; for example D is 4, L is 12 and Z is 26. Add the three place values together; for example Wallace would yield WAL which is 23+1+12 = 36. Show your work. F L O 6 +12+ 15= 33 Multiply your sum by 1200. This is your yearly income for the Week Four Discussion. Most everyone should have a different yearly income, unless the same last name is shared by two people. 33x1200= 39,600 My yearly income would be \$39,600.00. Each student has these monthly expenses : Car payment = \$236.95 Power bill = \$56.77 Water bill = \$32 Cell phone bill = \$63.42 Total monthly expenses is \$389.14. Each student also has a yearly educational bill of \$7800 which includes textbooks

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