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Employee: Luis Vasquez Employer: Mr. Blake Dickson Company: Economics 12.

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Presentation on theme: "Employee: Luis Vasquez Employer: Mr. Blake Dickson Company: Economics 12."— Presentation transcript:

1 Employee: Luis Vasquez Employer: Mr. Blake Dickson Company: Economics 12

2 Only Home  Location: Worcester, MA, USA… (45 miles from Boston...50 driving minutes)  Price: $50,000  Condo/Townhome/Row Home/Co-Op  Year Built: 2005  1 total bedroom(s)  1 total bath(s)  1 total full bath(s)  1 total rooms  Approximately 880 sq. ft.  Type: Condo, Second floor location, Detached home  Basement  2 open parking space(s)  1 car garage  Heating features: Central  Central air conditioning  Exterior construction: Concrete block

3 Only Home Payment Summary Mortgage Repayment Summary $476.74 Monthly Payment $171,627.89 Total of 360 Payments $46,627.89 Total Interest Paid Jan, 2040 Pay-off Date $75,000.00 Total Tax Paid $0.00 Total PMI Paid Monthly PMI 126 Monthly PMI Payments of $0.00 Each Aug, 2020 PMI Pay-off Date

4 Chevrolet Corvette  $39,912  Mileage: 1,949 Miles  Body Style: Coupe  Exterior Color: Black  Interior Color: Black  Stock #: 9562  VIN: 1G1YY25W295114725  Engine: 6.2L V8  Transmission: MANUAL  Drivetrain: N/A  Doors: 2  Wheelbase: 106 Inches

5 Chevrolet Corvette Payment Summary Mortgage Repayment Summary $431.84 Monthly Payment $155,460.79 Total of 360 Payments $55,680.79 Total Interest Paid Jan, 2040 Pay-off Date $59,868.00 Total Tax Paid $0.00 Total PMI Paid Monthly PMI 152 Monthly PMI Payments of $0.00 Each Oct, 2022 PMI Pay-off Date

6 Credit Card (food, electric bill, water, etc…)  $1,500.00 monthly

7 Entertainment  $750.00 monthly (probably destined to Sox and Pats tickets)

8 MonthlyYearly Total (final)(over 30 yrs) Salary (after tax)3,958.3347,500.00 Home Loan476.745,720.88171,627.89 Corvette Loan431.845,182.08155,460.79 Total Loans908.5810,902.96327,088.68 Remaining Budget3,049.7536,597.04 Credit Cards*(f, e, w, e)1,500.0018,000.00 Entertainment750.009,000.00 Savings Account**799.759,597.00 * food, electricity, water, etc... ** plus 1.01% APY compounded monthly

9 Savings Account YearBalance 1$9,642.56 2$19,381.95 3$29,220.17 4$39,158.22 5$49,197.10 6$59,337.85 7$69,581.49 8$79,929.08 9$90,381.66 10$100,940.31 11$111,606.09 12$122,380.09 13$133,263.42 14$144,257.18 15$155,362.49 16$166,580.49 17$177,912.31 18$189,359.12 19$200,922.08 20$212,602.36 21$224,401.16 22$236,319.69 23$248,359.15 24$260,520.77 25$272,805.80 26$285,215.48 27$297,751.08 28$310,413.87 29$323,205.16 30$336,126.24 Final Savings Balance: $336,126.24


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