(DON"T BUY THAT NEW CAR, please).
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Earn a Living
and
Live on What
You Earn !
and
Live on What
You Earn !
Buy a house
Buy a car
Explore your income
In this project you will:
1. Buy a house and calculate the monthly payments and total cost;
2. Buy a car and calculate the monthly payments and total cost;
3. Shop for a month’s worth of food and houshold items and determine their total cost;
4. Make some calculations to figure out what you can afford and learn
to use the mortgage and loan calculators found on the Internet.
5. Create a mock budget which conforms to the limits placed on your income and purchases.
Here’s some info you need before you get started:
1. You make $46,000 per year (median US income).
2. Your dream house cannot be more than 30% of what you make in
eight year at your current income.
3. You will finance your house over 30 years. On average, with interest,
you will pay 3 times the purchase price when you finance a house
over 30 years.
4. Your dream car cannot be more than 35% of your annual income.
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