the life of andrew 1

The Life of Andrew

Andrew Snider

Period 3

11/23/08

Wheels- 2008 Scion tC

Car Specs 2-door, 5 seats, 5yr/60000miles powertrain limited

warranty 27/20 MPG Hwy/City 2,362 cc 2.4 liters in-line 4 front engine, 161-horse

power, top speed 129mph, 0-60 in 8.4 sec 4-speed automatic transmission TRD Sport muffler, Performance brake kit, rear sway

bar, cold air intake. Power windows, doors, locks, mirrors Moonroof, A/C, 18” Alloy wheels, rear spoiler, mud

guards, sport steering wheel, Pioneer Premium Audio system, 6 speakers, 2 6” subwoofers

What It Costs MSRP: $24,526 Down payment: $4,905.20 Sales tax: $981(at 4%) Other costs: $368 Amount to be financed: $22,319 @ 5.54% Monthly payment for 5yr car loan: $426.73 Buying cost for 5yr car loan: $30,509.06 Monthly payment for 5yrs of leasing: $295.88 (+$.50 for every

mile over limit) Buying cost for 5yrs of leasing: $29,533(+$.50 for every mile over

limit) Insurance Monthly Premium: $82.09 Residual Cost after 5yrs: $5,185

5 Year Loan Amortization Table

Month Oct. Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Year 2008 2008 2008 2009 2009 2009 2009 2009 2009 2009 2009 2009

Payment ($) 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73

Principal Paid ($) 323.69 325.19 326.69 328.2 329.71 331.23 332.76 334.3 335.84 337.39 338.95 340.51

Interest Paid ($) 103.04 101.55 100.04 98.54 97.02 95.5 93.97 92.43 90.89 89.34 87.78 86.22

Total Interest ($) 103.04 204.58 304.63 403.16 500.18 595.68 689.65 782.08 872.97 962.31 1050.09 1136.31

Balance ($) 21995.31 21670.12 21343.44 21015.24 20685.53 20354.3 20021.53 19687.24 19351.39 19014 18675.05 18334.54

Month Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Year 2009 2009 2009 2010 2010 2010 2010 2010 2010 2010 2010 2010

Payment ($) 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73

Principal Paid ($) 342.09 343.67 345.25 346.85 348.45 350.06 351.67 353.3 354.93 356.57 358.21 359.87

Interest Paid ($) 84.64 83.07 81.48 79.88 78.28 76.67 75.06 73.44 71.8 70.17 68.52 66.87

Total Interest ($) 1220.95 1304.02 1385.5 1465.38 1543.67 1620.34 1695.4 1768.83 1840.64 1910.8 1979.32 2046.19

Balance ($) 17992.45 17648.79 17303.53 16956.69 16608.24 16258.18 15906.51 15553.21 15198.29 14841.72 14483.51 14123.64

5 Year Loan Amorization Table (cont.)


Year 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011 2011 2011

Payment ($) 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73

Principal Paid ($) 361.53 363.2 364.87 366.56 368.25 369.95 371.66 373.37 375.1 376.83 378.57 380.32

Interest Paid ($) 65.2 63.54 61.86 60.17 58.48 56.78 55.07 53.36 51.63 49.9 48.16 46.41

Total Interest ($) 2111.39 2174.93 2236.79 2296.96 2355.44 2412.22 2467.3 2520.65 2572.29 2622.19 2670.35 2716.77

Balance ($) 13762.12 13398.92 13034.05 12667.49 12299.24 11929.29 11557.64 11184.26 10809.16 10432.34 10053.77 9673.45


Year 2011 2011 2011 2012 2012 2012 2012 2012 2012 2012 2012 2012

Payment ($) 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73

Principal Paid ($) 382.07 383.84 385.61 387.39 389.18 390.97 392.78 394.59 396.41 398.24 400.08 401.93

Interest Paid ($) 44.66 42.9 41.12 39.34 37.55 35.76 33.95 32.14 30.32 28.49 26.65 24.8

Total Interest ($) 2761.43 2804.32 2845.45 2884.79 2922.34 2958.1 2992.05 3024.19 3054.51 3083 3109.65 3134.45

Balance ($) 9291.38 8907.54 8521.94 8134.55 7745.37 7354.4 6961.62 6567.03 6170.61 5772.37 5372.29 4970.36


Year 2012 2012 2012 2013 2013 2013 2013 2013 2013 2013 2013 2013

Payment ($) 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73 426.73

Principal Paid ($) 403.78 405.65 407.52 409.4 411.29 413.19 415.1 417.02 418.94 420.87 422.82 424.77

Interest Paid ($) 22.95 21.08 19.21 17.33 15.44 13.54 11.63 9.72 7.79 5.86 3.91 1.96

Total Interest ($) 3157.4 3178.48 3197.69 3215.02 3230.46 3243.99 3255.63 3265.34 3273.13 3278.99 3282.9 3284.86

Balance 4566.58 4160.93 3753.41 3344 2932.71 2519.52 2104.42 1687.4 1268.46 847.59 424.77 0

Lease Or Buy?

Lease Cons:

Car is not mine at end of lease

Pros: Lower monthly costs Lower 5yr cost

Buy: Cons:

Higher monthly cost Higher overall cost

Pros: I own the car after 5yrs

Lease Or Buy?

I have chosen to buy the car. The benefit of owning the car outweighs the fact that it has an overall higher cost and higher monthly payments.

House Information Year Built: 1947 3 total bedroom(s) 2 total bath(s) 2 total full bath(s) Approximately 2336 sq. ft. Two story Master bedroom- 14’x11’ Living room- 21’x12’ Dining room- 11’x11’ Kitchen- 10’x9’ Basement Laundry room

Central heating and air conditioning

Attic, Basement, Cable TV avail., Dishwasher, Fireplace, Laundry room, Range and oven, Tile floors, Washer/dryer hookups, Wood floors

Public sewer and water supply Schools less than two miles

away

Price: $153,000

House

Total Price: $153,000 Down Payment: $30,600 Amount to be financed: $122,400 15yr Fixed Rate APR: 5.875% 15yr Monthly Payment: $1,024.96 30yr Fixed Rate APR: 5.807% 30yr Monthly Payment: $718.19 Bi-Yearly Insurance Premium: $417.20 Monthly Insurance: $69.53

15 Year Loan Amortization Table Month Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Year 2008 2008 2008 2009 2009 2009 2009 2009 2009 2009 2009 2009

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 425.38 427.47 429.56 431.66 433.77 435.9 438.03 440.18 442.33 444.5 446.67 448.86

Interest Paid ($) 599.25 597.17 595.07 592.97 590.86 588.73 586.6 584.46 582.3 580.14 577.96 575.77

Total Interest ($) 599.25 1196.42 1791.49 2384.46 2975.32 3564.06 4150.66 4735.11 5317.41 5897.55 6475.51 7051.28

Balance ($) 121974.62

121547.15 121117.59 120685.93 120252.16 119816.26 119378.23 118938.05 118495.72 118051.22 117604.54 117155.68


Year 2009 2009 2009 2010 2010 2010 2010 2010 2010 2010 2010 2010

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 451.06 453.27 455.49 457.72 459.96 462.21 464.47 466.75 469.03 471.33 473.63 475.95

Interest Paid ($) 573.57 571.37 569.15 566.92 564.68 562.42 560.16 557.89 555.6 553.31 551 548.68

Total Interest ($) 7624.85 8196.22 8765.37 9332.29 9896.96 10459.39 11019.55 11577.44 12133.04 12686.34 13237.34 13786.02

Balance ($) 116704.63

116251.36 115795.87 115338.16 114878.2 114415.99 113951.52 113484.78 113015.74 112544.42 112070.78 111594.83

15 Year Loan Amortization TableMonth Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Year 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011 2011 2011

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 478.28 480.62 482.98 485.34 487.72 490.11 492.51 494.92 497.34 499.78 502.22 504.68

Interest Paid ($) 546.35 544.01 541.66 539.29 536.91 534.53 532.13 529.72 527.29 524.86 522.41 519.95

Total Interest ($) 14332.37 14876.38

15418.04 15957.33 16494.24 17028.77 17560.89 18090.61 18617.9 19142.76 19665.17 20185.12

Balance ($) 111116.55 110635.92

110152.94 109667.6 109179.88 108689.78 108197.27 107702.35 107205.01 106705.24 106203.02 105698.33


Year 2011 2011 2011 2012 2012 2012 2012 2012 2012 2012 2012 2012

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 507.15 509.63 512.13 514.64 517.16 519.69 522.23 524.79 527.36 529.94 532.54 535.14

Interest Paid ($) 517.48 515 512.5 510 507.48 504.94 502.4 499.84 497.27 494.69 492.1 489.49

Total Interest ($) 20702.61 21217.6 21730.11 22240.1 22747.58 23252.52 23754.93 24254.77 24752.04 25246.74 25738.83 26228.32

Balance ($) 105191.18 104681.55

104169.42 103654.78 103137.63 102617.94 102095.7 101570.92 101043.56 100513.62 99981.08 99445.94


Year 2012 2012 2012 2013 2013 2013 2013 2013 2013 2013 2013 2013

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 537.76 540.4 543.04 545.7 548.37 551.06 553.75 556.46 559.19 561.93 564.68 567.44

Interest Paid ($) 486.87 484.24 481.59 478.93 476.26 473.58 470.88 468.17 465.44 462.71 459.96 457.19

Total Interest ($) 26715.19 27199.43 27681.02 28159.96 28636.22 29109.8 29580.68 30048.85 30514.29 30977 31436.95 31894.14

Balance ($) 98908.18 98367.78 97824.74 97279.04 96730.67 96179.61 95625.86 95069.4 94510.21 93948.28 93383.6 92816.16


Year 2013 2013 2013 2014 2014 2014 2014 2014 2014 2014 2014 2014

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 570.22 573.01 575.82 578.64 581.47 584.32 587.18 590.05 592.94 595.84 598.76 601.69

Interest Paid ($) 454.41 451.62 448.82 446 443.16 440.32 437.46 434.58 431.69 428.79 425.87 422.94

Total Interest ($) 32348.55 32800.17 33248.99 33694.99 34138.15 34578.47 35015.92 35450.5 35882.2 36310.98 36736.86 37159.8

Balance ($) 92245.94 91672.93 91097.11 90518.47 89937 89352.69 88765.51 88175.46 87582.52 86986.67 86387.91 85786.22


Year 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 604.64 607.6 610.57 613.56 616.57 619.58 622.62 625.67 628.73 631.81 634.9 638.01

Interest Paid ($) 420 417.03 414.06 411.07 408.07 405.05 402.01 398.97 395.9 392.83 389.73 386.62

Total Interest ($) 37579.79 37996.83 38410.89 38821.96 39230.03 39635.07 40037.09 40436.06 40831.96 41224.78 41614.52 42001.14

Balance ($) 85181.58 84573.98 83963.41 83349.85 82733.28 82113.7 81491.08 80865.41 80236.68 79604.88 78969.97 78331.97


Year 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 641.13 644.27 647.43 650.6 653.78 656.98 660.2 663.43 666.68 669.94 673.22 676.52

Interest Paid ($) 383.5 380.36 377.21 374.04 370.85 367.65 364.43 361.2 357.95 354.69 351.41 348.11

Total Interest ($) 42384.64 42765 43142.21 43516.25 43887.1 44254.75 44619.19 44980.39 45338.34 45693.03 46044.44 46392.56

Balance ($) 77690.83 77046.56 76399.14 75748.54 75094.76 74437.78 73777.58 73114.15 72447.47 71777.53 71104.31 70427.79


Year 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 679.83 683.16 686.5 689.86 693.24 696.64 700.05 703.47 706.92 710.38 713.86 717.35

Interest Paid ($) 344.8 341.47 338.13 334.77 331.39 328 324.59 321.16 317.72 314.25 310.78 307.28

Total Interest ($) 46737.36 47078.84 47416.97 47751.73 48083.13 48411.12 48735.71 49056.87 49374.58 49688.84 49999.62 50306.9

Balance ($) 69747.96 69064.8 68378.3 67688.43 66995.19 66298.55 65598.51 64895.03 64188.12 63477.74 62763.88 62046.53


Year 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 720.86 724.39 727.94 731.5 735.08 738.68 742.3 745.93 749.59 753.26 756.94 760.65

Interest Paid ($) 303.77 300.24 296.69 293.13 289.55 285.95 282.33 278.7 275.05 271.38 267.69 263.98

Total Interest ($) 50610.67 50910.91 51207.6 51500.73 51790.28 52076.23 52358.56 52637.26 52912.31 53183.68 53451.37 53715.36

Balance ($) 61325.67 60601.27 59873.33 59141.83 58406.75 57668.06 56925.76 56179.83 55430.24 54676.99 53920.04 53159.39


Year 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 764.37 768.12 771.88 775.66 779.45 783.27 787.1 790.96 794.83 798.72 802.63 806.56

Interest Paid ($) 260.26 256.52 252.76 248.98 245.18 241.36 237.53 233.68 229.8 225.91 222 218.07

Total Interest ($) 53975.62 54232.13 54484.89 54733.87 54979.05 55220.41 55457.94 55691.62 55921.42 56147.33 56369.34 56587.41

Balance ($) 52395.02 51626.9 50855.03 50079.37 49299.92 48516.65 47729.55 46938.59 46143.76 45345.04 44542.41 43735.85


Year 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 810.51 814.48 818.47 822.47 826.5 830.55 834.61 838.7 842.8 846.93 851.08 855.24

Interest Paid ($) 214.12 210.16 206.17 202.16 198.13 194.09 190.02 185.94 181.83 177.7 173.56 169.39

Total Interest ($) 56801.53 57011.69 57217.86 57420.02 57618.15 57812.24 58002.26 58188.19 58370.02 58547.73 58721.28 58890.67

Balance ($) 42925.34 42110.86 41292.4 40469.92 39643.42 38812.88 37978.27 37139.57 36296.77 35449.83 34598.76 33743.52


Year 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 2021 2021

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 859.43 863.64 867.87 872.12 876.38 880.68 884.99 889.32 893.67 898.05 902.45 906.86

Interest Paid ($) 165.2 160.99 156.77 152.52 148.25 143.96 139.65 135.31 130.96 126.58 122.19 117.77

Total Interest ($) 59055.87 59216.87 59373.64 59526.15 59674.4 59818.36 59958.01 60093.32 60224.28 60350.86 60473.05 60590.82

Balance ($) 32884.08 32020.45 31152.58 30280.47 29404.08 28523.4 27638.42 26749.1 25855.42 24957.37 24054.93 23148.06


Year 2021 2021 2021 2022 2022 2022 2022 2022 2022 2022 2022 2022

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 911.3 915.77 920.25 924.75 929.28 933.83 938.4 943 947.61 952.25 956.92 961.6

Interest Paid ($) 113.33 108.87 104.38 99.88 95.35 90.8 86.23 81.64 77.02 72.38 67.72 63.03

Total Interest ($) 60704.15 60813.01 60917.4 61017.28 61112.63 61203.43 61289.66 61371.3 61448.31 61520.69 61588.41 61651.44

Balance ($) 22236.76 21320.99 20400.75 19475.99 18546.71 17612.88 16674.47 15731.48 14783.86 13831.61 12874.69 11913.09

15 Year Loan Amortization Table


Year 2022 2022 2022 2023 2023 2023 2023 2023 2023 2023 2023 2023

Payment ($) 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63 1024.63

Principal Paid ($) 966.31 971.04 975.79 980.57 985.37 990.2 995.04 999.92 1004.81 1009.73 1014.67 1019.64

Interest Paid ($) 58.32 53.59 48.84 44.06 39.26 34.44 29.59 24.72 19.82 14.9 9.96 4.99

Total Interest ($) 61709.77 61763.36 61812.2 61856.26 61895.52 61929.96 61959.55 61984.27 62004.09 62018.99 62028.95 62033.95

Balance ($) 10946.78 9975.74 8999.95 8019.38 7034.01 6043.81 5048.77 4048.85 3044.04 2034.31 1019.64 0

30Yr Loan Amortization TableMonth Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Year 2008 2008 2008 2009 2009 2009 2009 2009 2009 2009 2009 2009

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 126.59 127.2 127.81 128.43 129.05 129.67 130.3 130.93 131.56 132.2 132.84 133.48

Interest Paid ($) 591.6 590.99 590.37 589.76 589.13 588.51 587.88 587.25 586.62 585.99 585.35 584.7

Total Interest ($) 591.6 1182.59 1772.96 2362.72 2951.85 3540.36 4128.25 4715.5 5302.12 5888.11 6473.46 7058.16

Balance ($) 122273.41 122146.22 122018.4 121889.97 121760.92 121631.25 121500.95 121370.02 121238.45 121106.25 120973.41 120839.93


Year 2009 2009 2009 2010 2010 2010 2010 2010 2010 2010 2010 2010

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 134.13 134.77 135.43 136.08 136.74 137.4 138.06 138.73 139.4 140.07 140.75 141.43

Interest Paid ($) 584.06 583.41 582.76 582.11 581.45 580.79 580.12 579.46 578.78 578.11 577.43 576.75

Total Interest ($) 7642.22 8225.63 8808.39 9390.5 9971.95 10552.73 11132.86 11712.31 12291.1 12869.21 13446.64 14023.39

Balance ($) 120705.81 120571.03 120435.61 120299.53 120162.79 120025.39 119887.33 119748.6 119609.2 119469.12 119328.37 119186.94


Year 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011 2011 2011

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 142.12 142.8 143.49 144.19 144.88 145.58 146.29 146.99 147.7 148.42 149.14 149.86

Interest Paid ($) 576.07 575.38 574.69 574 573.3 572.6 571.9 571.19 570.48 569.77 569.05 568.33

Total Interest ($) 14599.46 15174.85 15749.54 16323.54 16896.84 17469.45 18041.34 18612.54 19183.02 19752.78 20321.83 20890.16

Balance ($) 119044.82 118902.02 118758.53 118614.34 118469.46 118323.87 118177.59 118030.59 117882.89 117734.47 117585.33 117435.48


Year 2011 2011 2011 2012 2012 2012 2012 2012 2012 2012 2012 2012

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 150.58 151.31 152.04 152.77 153.51 154.26 155 155.75 156.5 157.26 158.02 158.78

Interest Paid ($) 567.6 566.88 566.15 565.41 564.67 563.93 563.18 562.44 561.68 560.93 560.17 559.4

Total Interest ($) 21457.77 22024.65 22590.79 23156.2 23720.87 24284.8 24847.99 25410.43 25972.11 26533.03 27093.2 27652.6

Balance ($) 117284.9 117133.59 116981.55 116828.77 116675.26 116521 116366 116210.25 116053.75 115896.49 115738.47 115579.69


Year 2012 2012 2012 2013 2013 2013 2013 2013 2013 2013 2013 2013

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 159.55 160.32 161.1 161.88 162.66 163.44 164.23 165.03 165.83 166.63 167.43 168.24

Interest Paid ($) 558.64 557.86 557.09 556.31 555.53 554.74 553.95 553.16 552.36 551.56 550.75 549.94

Total Interest ($) 28211.24 28769.1 29326.19 29882.5 30438.03 30992.77 31546.72 32099.88 32652.24 33203.8 33754.56 34304.5

Balance ($) 115420.14 115259.82 115098.72 114936.84 114774.19 114610.74 114446.51 114281.48 114115.66 113949.03 113781.6 113613.36


Year 2013 2013 2013 2014 2014 2014 2014 2014 2014 2014 2014 2014

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 169.05 169.87 170.69 171.52 172.35 173.18 174.02 174.86 175.7 176.55 177.41 178.26

Interest Paid ($) 549.13 548.31 547.49 546.67 545.84 545.01 544.17 543.33 542.48 541.63 540.78 539.92

Total Interest ($) 34853.63 35401.95 35949.44 36496.11 37041.95 37586.95 38131.12 38674.45 39216.93 39758.56 40299.35 40839.27

Balance ($) 113444.3 113274.43 113103.74 112932.22 112759.87 112586.69 112412.68 112237.82 112062.12 111885.56 111708.16 111529.9


Year 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 179.12 179.99 180.86 181.73 182.61 183.5 184.38 185.27 186.17 187.07 187.97 188.88

Interest Paid ($) 539.06 538.2 537.33 536.45 535.57 534.69 533.8 532.91 532.02 531.12 530.21 529.3

Total Interest ($) 41378.33 41916.52 42453.85 42990.3 43525.87 44060.56 44594.37 45127.28 45659.3 46190.41 46720.63 47249.93

Balance ($) 111350.77 111170.78 110989.92 110808.19 110625.57 110442.08 110257.7 110072.42 109886.25 109699.18 109511.21 109322.33


Year 2015 2015 2015 2016 2016 2016 2016 2016 2016 2016 2016 2016

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 189.79 190.71 191.63 192.56 193.49 194.43 195.37 196.31 197.26 198.21 199.17 200.13

Interest Paid ($) 528.39 527.47 526.55 525.63 524.7 523.76 522.82 521.88 520.93 519.97 519.02 518.05

Total Interest ($) 47778.32 48305.8 48832.35 49357.97 49882.67 50406.43 50929.25 51451.13 51972.05 52492.03 53011.04 53529.1

Balance ($) 109132.54 108941.82 108750.19 108557.63 108364.14 108169.71 107974.35 107778.04 107580.78 107382.57 107183.4 106983.27


Year 2016 2016 2016 2017 2017 2017 2017 2017 2017 2017 2017 2017

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 201.1 202.07 203.05 204.03 205.02 206.01 207 208 209.01 210.02 211.03 212.05

Interest Paid ($) 517.09 516.11 515.14 514.16 513.17 512.18 511.18 510.18 509.18 508.17 507.15 506.13

Total Interest ($) 54046.18 54562.29 55077.43 55591.59 56104.76 56616.94 57128.12 57638.3 58147.48 58655.65 59162.8 59668.93

Balance ($) 106782.17 106580.09 106377.05 106173.02 105968 105761.99 105554.99 105346.99 105137.98 104927.96 104716.92 104504.87


Year 2017 2017 2017 2018 2018 2018 2018 2018 2018 2018 2018 2018

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 213.08 214.11 215.14 216.18 217.23 218.28 219.33 220.39 221.46 222.53 223.6 224.69

Interest Paid ($) 505.11 504.08 503.04 502 500.96 499.91 498.85 497.79 496.73 495.66 494.58 493.5

Total Interest ($) 60174.04 60678.11 61181.15 61683.16 62184.11 62684.02 63182.87 63680.67 64177.39 64673.05 65167.63 65661.13

Balance ($) 104291.79 104077.68 103862.54 103646.36 103429.13 103210.85 102991.52 102771.12 102549.66 102327.14 102103.53 101878.85


Year 2018 2018 2018 2019 2019 2019 2019 2019 2019 2019 2019 2019

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 225.77 226.86 227.96 229.06 230.17 231.28 232.4 233.52 234.65 235.78 236.92 238.07

Interest Paid ($) 492.41 491.32 490.23 489.12 488.02 486.91 485.79 484.66 483.54 482.4 481.26 480.12

Total Interest ($) 66153.55 66644.87 67135.1 67624.22 68112.24 68599.14 69084.93 69569.6 70053.13 70535.53 71016.79 71496.91

Balance ($) 101653.07 101426.21 101198.25 100969.19 100739.02 100507.74 100275.35 100041.82 99807.17 99571.39 99334.47 99096.4


Year 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 2020

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 239.22 240.38 241.54 242.71 243.88 245.06 246.24 247.43 248.63 249.83 251.04 252.25

Interest Paid ($) 478.97 477.81 476.65 475.48 474.31 473.13 471.94 470.75 469.56 468.36 467.15 465.94

Total Interest ($) 71975.88 72453.69 72930.33 73405.81 73880.12 74353.25 74825.19 75295.95 75765.51 76233.86 76701.01 77166.95

Balance ($) 98857.18 98616.8 98375.26 98132.56 97888.68 97643.62 97397.38 97149.95 96901.32 96651.49 96400.45 96148.2


Year 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 2021 2021

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 253.47 254.69 255.93 257.16 258.41 259.65 260.91 262.17 263.44 264.71 265.99 267.28

Interest Paid ($) 464.72 463.49 462.26 461.02 459.78 458.53 457.28 456.02 454.75 453.47 452.2 450.91

Total Interest ($) 77631.66 78095.16 78557.42 79018.44 79478.22 79936.75 80394.03 80850.04 81304.79 81758.26 82210.46 82661.37

Balance ($) 95894.73 95640.04 95384.11 95126.95 94868.55 94608.89 94347.98 94085.81 93822.38 93557.66 93291.67 93024.4


Year 2021 2021 2021 2022 2022 2022 2022 2022 2022 2022 2022 2022

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 268.57 269.87 271.17 272.48 273.8 275.12 276.45 277.79 279.13 280.48 281.83 283.2

Interest Paid ($) 449.62 448.32 447.02 445.7 444.39 443.06 441.73 440.4 439.06 437.71 436.35 434.99

Total Interest ($) 83110.99 83559.31 84006.32 84452.03 84896.42 85339.48 85781.22 86221.61 86660.67 87098.38 87534.73 87969.72

Balance ($) 92755.83 92485.96 92214.79 91942.31 91668.52 91393.39 91116.94 90839.16 90560.03 90279.55 89997.71 89714.52


Year 2022 2022 2022 2023 2023 2023 2023 2023 2023 2023 2023 2023

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 284.57 285.94 287.32 288.71 290.11 291.51 292.92 294.33 295.76 297.19 298.62 300.07

Interest Paid ($) 433.62 432.24 430.86 429.47 428.08 426.68 425.27 423.85 422.43 421 419.56 418.12

Total Interest ($) 88403.34 88835.58 89266.44 89695.92 90124 90550.67 90975.94 91399.79 91822.22 92243.22 92662.78 93080.9

Balance ($) 89429.95 89144.01 88856.69 88567.97 88277.87 87986.36 87693.44 87399.11 87103.35 86806.16 86507.54 86207.47


Year 2023 2023 2023 2024 2024 2024 2024 2024 2024 2024 2024 2024

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 301.52 302.97 304.44 305.91 307.39 308.87 310.37 311.87 313.37 314.89 316.41 317.94

Interest Paid ($) 416.67 415.21 413.75 412.28 410.8 409.31 407.82 406.32 404.81 403.3 401.78 400.25

Total Interest ($) 93497.57 93912.79 94326.53 94738.81 95149.61 95558.92 95966.74 96373.06 96777.87 97181.17 97582.94 97983.19

Balance ($) 85905.96 85602.98 85298.55 84992.64 84685.25 84376.38 84066.01 83754.14 83440.77 83125.88 82809.47 82491.53


Year 2024 2024 2024 2025 2025 2025 2025 2025 2025 2025 2025 2025

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 319.48 321.02 322.57 324.13 325.7 327.27 328.85 330.44 332.04 333.65 335.26 336.88

Interest Paid ($) 398.71 397.16 395.61 394.05 392.49 390.91 389.33 387.74 386.14 384.54 382.93 381.31

Total Interest ($) 98381.9 98779.06 99174.67 99568.73 99961.22 100352.13 100741.46 101129.2 101515.35 101899.89 102282.82 102664.12

Balance ($) 82172.05 81851.03 81528.46 81204.33 80878.63 80551.36 80222.5 79892.06 79560.02 79226.37 78891.11 78554.24


Year 2025 2025 2025 2026 2026 2026 2026 2026 2026 2026 2026 2026

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 338.51 340.14 341.79 343.44 345.1 346.77 348.44 350.13 351.82 353.52 355.23 356.95

Interest Paid ($) 379.68 378.04 376.4 374.75 373.09 371.42 369.74 368.06 366.37 364.67 362.96 361.24

Total Interest ($) 103043.8 103421.84 103798.24 104172.99 104546.08 104917.49 105287.24 105655.3 106021.66 106386.33 106749.29 107110.53

Balance ($) 78215.73 77875.59 77533.8 77190.36 76845.26 76498.49 76150.05 75799.92 75448.1 75094.58 74739.36 74382.41


Year 2026 2026 2026 2027 2027 2027 2027 2027 2027 2027 2027 2027

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 358.67 360.4 362.15 363.9 365.66 367.42 369.2 370.98 372.78 374.58 376.39 378.21

Interest Paid ($) 359.51 357.78 356.04 354.29 352.53 350.76 348.99 347.2 345.41 343.61 341.8 339.98

Total Interest ($) 107470.04 107827.82 108183.86 108538.15 108890.68 109241.44 109590.43 109937.63 110283.04 110626.65 110968.45 111308.43

Balance ($) 74023.74 73663.34 73301.19 72937.29 72571.64 72204.21 71835.02 71464.03 71091.26 70716.68 70340.29 69962.08


Year 2027 2027 2027 2028 2028 2028 2028 2028 2028 2028 2028 2028

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 380.04 381.87 383.72 385.57 387.44 389.31 391.19 393.08 394.98 396.89 398.81 400.74

Interest Paid ($) 338.15 336.31 334.47 332.61 330.75 328.88 326.99 325.1 323.2 321.3 319.38 317.45

Total Interest ($) 111646.58 111982.89 112317.36 112649.97 112980.72 113309.6 113636.59 113961.69 114284.9 114606.19 114925.57 115243.02

Balance ($) 69582.05 69200.17 68816.46 68430.88 68043.45 67654.14 67262.95 66869.87 66474.88 66077.99 65679.18 65278.45


Year 2028 2028 2028 2029 2029 2029 2029 2029 2029 2029 2029 2029

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 402.67 404.62 406.58 408.54 410.51 412.5 414.49 416.5 418.51 420.53 422.56 424.61

Interest Paid ($) 315.51 313.57 311.61 309.65 307.67 305.69 303.69 301.69 299.68 297.65 295.62 293.58

Total Interest ($) 115558.53 115872.1 116183.71 116493.36 116801.03 117106.71 117410.41 117712.1 118011.77 118309.43 118605.05 118898.63

Balance ($) 64875.77 64471.16 64064.58 63656.04 63245.53 62833.03 62418.53 62002.04 61583.53 61163 60740.43 60315.82


Year 2029 2029 2029 2030 2030 2030 2030 2030 2030 2030 2030 2030

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 426.66 428.72 430.79 432.88 434.97 437.07 439.18 441.31 443.44 445.58 447.74 449.9

Interest Paid ($) 291.53 289.46 287.39 285.31 283.22 281.12 279 276.88 274.75 272.6 270.45 268.29

Total Interest ($) 119190.15 119479.62 119767.01 120052.32 120335.54 120616.65 120895.65 121172.53 121447.28 121719.89 121990.34 122258.62

Balance ($) 59889.17 59460.44 59029.65 58596.77 58161.81 57724.74 57285.55 56844.25 56400.81 55955.23 55507.49 55057.59


Year 2030 2030 2030 2031 2031 2031 2031 2031 2031 2031 2031 2031

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 452.07 454.26 456.45 458.66 460.88 463.11 465.34 467.59 469.85 472.12 474.41 476.7

Interest Paid ($) 266.11 263.93 261.73 259.52 257.31 255.08 252.84 250.59 248.33 246.06 243.78 241.49

Total Interest ($) 122524.73 122788.66 123050.39 123309.92 123567.22 123822.31 124075.15 124325.74 124574.07 124820.14 125063.92 125305.4

Balance ($) 54605.52 54151.26 53694.8 53236.14 52775.27 52312.16 51846.82 51379.22 50909.37 50437.25 49962.84 49486.14


Year 2031 2031 2031 2032 2032 2032 2032 2032 2032 2032 2032 2032

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 479 481.32 483.64 485.98 488.33 490.69 493.06 495.45 497.84 500.25 502.66 505.09

Interest Paid ($) 239.18 236.87 234.54 232.2 229.85 227.49 225.12 222.74 220.35 217.94 215.52 213.09

Total Interest ($) 125544.59 125781.45 126015.99 126248.2 126478.05 126705.55 126930.67 127153.41 127373.76 127591.7 127807.22 128020.31

Balance ($) 49007.14 48525.82 48042.18 47556.2 47067.87 46577.18 46084.11 45588.67 45090.83 44590.58 44087.92 43582.82


Year 2032 2032 2032 2033 2033 2033 2033 2033 2033 2033 2033 2033

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 507.54 509.99 512.45 514.93 517.42 519.92 522.43 524.96 527.5 530.04 532.61 535.18

Interest Paid ($) 210.65 208.2 205.73 203.26 200.77 198.27 195.75 193.23 190.69 188.14 185.58 183

Total Interest ($) 128230.96 128439.16 128644.89 128848.14 129048.91 129247.18 129442.93 129636.16 129826.85 130014.99 130200.57 130383.57

Balance ($) 43075.29 42565.3 42052.84 41537.91 41020.49 40500.57 39978.14 39453.18 38925.69 38395.64 37863.04 37327.86


Year 2033 2033 2033 2034 2034 2034 2034 2034 2034 2034 2034 2034

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 537.77 540.37 542.98 545.6 548.24 550.89 553.55 556.23 558.92 561.62 564.33 567.06

Interest Paid ($) 180.42 177.82 175.21 172.58 169.95 167.3 164.63 161.96 159.27 156.57 153.85 151.13

Total Interest ($) 130563.99 130741.81 130917.01 131089.6 131259.54 131426.84 131591.47 131753.43 131912.7 132069.27 132223.12 132374.24

Balance ($) 36790.09 36249.72 35706.74 35161.14 34612.9 34062.01 33508.46 32952.23 32393.31 31831.69 31267.36 30700.3


Year 2034 2034 2034 2035 2035 2035 2035 2035 2035 2035 2035 2035

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 569.8 572.55 575.32 578.1 580.9 583.7 586.53 589.36 592.21 595.07 597.95 600.84

Interest Paid ($) 148.38 145.63 142.86 140.08 137.29 134.48 131.66 128.82 125.98 123.11 120.24 117.35

Total Interest ($) 132522.63 132668.26 132811.12 132951.21 133088.49 133222.98 133354.63 133483.46 133609.44 133732.55 133852.79 133970.13

Balance ($) 30130.5 29557.94 28982.62 28404.52 27823.62 27239.92 26653.39 26064.03 25471.82 24876.75 24278.8 23677.96


Year 2035 2035 2035 2036 2036 2036 2036 2036 2036 2036 2036 2036

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 603.74 606.66 609.59 612.54 615.5 618.47 621.46 624.47 627.49 630.52 633.57 636.63

Interest Paid ($) 114.44 111.53 108.59 105.65 102.69 99.71 96.72 93.72 90.7 87.67 84.62 81.56

Total Interest ($) 134084.58 134196.1 134304.7 134410.34 134513.03 134612.74 134709.46 134803.18 134893.88 134981.55 135066.17 135147.73

Balance ($) 23074.22 22467.56 21857.97 21245.43 20629.93 20011.45 19389.99 18765.52 18138.04 17507.52 16873.95 16237.32


Year 2036 2036 2036 2037 2037 2037 2037 2037 2037 2037 2037 2037

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 639.71 642.8 645.9 649.03 652.16 655.32 658.48 661.67 664.86 668.08 671.31 674.55

Interest Paid ($) 78.48 75.39 72.28 69.16 66.02 62.87 59.7 56.52 53.32 50.11 46.88 43.64

Total Interest ($) 135226.21 135301.59 135373.88 135443.04 135509.06 135571.93 135631.63 135688.15 135741.48 135791.59 135838.47 135882.1

Balance ($) 15597.62 14954.82 14308.92 13659.89 13007.73 12352.41 11693.93 11032.27 10367.4 9699.33 9028.02 8353.47


Year 2037 2037 2037 2038 2038 2038 2038 2038 2038 2038 2038 2038

Payment ($) 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19 718.19

Principal Paid ($) 677.81 681.09 684.38 687.69 691.01 694.35 697.71 701.08 704.47 707.87 711.29 714.73

Interest Paid ($) 40.38 37.1 33.81 30.5 27.18 23.84 20.48 17.11 13.72 10.31 6.89 3.45

Total Interest ($) 135922.48 135959.57 135993.38 136023.88 136051.06 136074.89 136095.37 136112.48 136126.2 136136.51 136143.4 136146.86

Balance ($) 7675.66 6994.57 6310.19 5622.51 4931.5 4237.15 3539.44 2838.36 2133.9 1426.02 714.73 0

Apartment – 203 Capital Street Lynchburg, VA 24502

Apartment Features 2 bed/ 2 bath Air Conditioning Hardwood Floor Carpeted Floor Washer/Dryer In Unit Dishwasher Cable-Ready Balcony, Deck, Patio, Porch Fireplace Microwave Storage Space(s)

Dining Electric Heat Small pets allowed Utilities included in Price

Monthly Cost: $750 Yearly Insurance: $166.00 Monthly Insurance: $13.83

Total Cost per Month (monthly payment + insurance + tax)

30yr loan- $718.19 + $69.53 + $306.00 = $1093.72

15yr loan- $1,024.96 + 69.53 + 306.00 = $1399.53

Renting- $750 + $13.83 = $763.83

Buy, or Rent?

I have chosen to rent the apartment because of the lower cost and the presence of student loans that will need to be paid off. Once the loans are paid off, I would then buy a house.

Renting the apartment would save me either $329.89 per month for a 30yr loan Or $ 635.70 per month for a 15yr loan

Can I afford it? $2500 Budget

Range

Category Percent Chosen Revised Amount

Fixed Expenses

18-30% Housing 30% $750

18% Taxes 18% $450

0-5% Insurance .006% $15.00

0-10% Debt Repayment 2% $50

Savings

0-10% Goal Achievement 2.8% $70

0-10% Irregular Expenses 2.8% $70

0-10% For Emergencies 2.8% $ 70

Can I afford it? $2500 Budget (cont.)

Living Expenses

5-12% Utilities & Phone 7% $175

8-15% Food 7% $175

5-15% Transportation 8% $200

2-5% Medical 4.6% $115

2-8% Clothing 2% $50

2-9% Durable Goods 4% $100

1-5% Personal Grooming 1.5% $37.50

5-10% Recreation 6.8% $170

0-9% All other .1% $2.50

Total $2500

Can I afford it? $2500 Budget Workshop

Distribution of Spending-$2500 Budget

Housing Taxes Savings Miscellaneous Expenses Living Expenses

Can I afford it? $2500 Budget

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

Utilites & Phone

FoodTransportation

Medical

Clothing

Durable Goods

Personal Grooming

Recreation

All other

Distribution of Spending- $2500 Budget

Can I Afford It?

My chosen career: Neurologist Requirements: 4yr B.A., 4yr Med School, 2yr

residency, Salaries range from $130,000 to $650,000 Starting salary: $141,818

College

Cost of four year degree from College of Charleston: $81,672

Cost of Medical School: $84,452

Total Education Costs: $166,124

Can I afford it? $141,818 Budget

Range

Category Percent Chosen Revised Amount

Fixed Expenses

18-30% Housing 6.35 $9000

18% Taxes 18 $25527.24

0-5% Insurance .1 $180

0-100% Debt Repayment 65 $92320

Savings

0-10% Goal Achievement .6 $840

0-10% Irregular Expenses .6 $840

0-10% For Emergencies .6 $ 840


Living Expenses

5-12% Utilities & Phone 1.5 $2100

8-15% Food 1.5 $2100

5-15% Transportation 1.7 $2400

2-5% Medical 1 $1380

2-8% Clothing .5 $600

2-9% Durable Goods .1 $1200

1-5% Personal Grooming .1 $450

5-10% Recreation 1.5 $2040

0-9% All other 0 $0

Total $141818


Distribution of Yearly Spending- $141,818 Budget

Housing Taxes Misscellaneous Expenses Savings Living Expenses


0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.80%

Utilities and Phone

FoodTransportation

Medical

Clothing

Durable Goods

Personal Grooming

Recreation

All Other

Distribution of Living Expenses- $141,818 Budget

An Overview

I will buy my car I will rent an apartment Until I have my student loans paid off, sixty-

five percent of my earnings will go towards paying off these loans. I will also rent an apartment until they are paid off.

the life of andrew 1

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