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Engineering Economic Analysis Project on a Current Event: Mor gage Industry Income (Ater Toxes)+: As a fresh college graduate, you recently resumed a dream job with a top engineering firm while your starting annual salary is $50,000, you are expected to receive a 4% annual pay raise and your annual salary puts you in the 20% income tax bracket. (Also assume you get no tax refund in each tax season, Expenses- 1) You have decided to move on to the next big phase of your life -becoming a homeowner. To this end, you take on a 30 year, 7% mortgage with an original balance of $150,000. You start paying monthly mortgage patments. 2) Each month, you also pay $250 into a reserve account, which the bank uses to pay your home insurance and property taxes 3) Your total monthly expenses for other necessities including food, transportation, personal care, entertainment, etc is $650 and you expect this to increase by 4% annually. Engineering Economic Analysis Project on a Current Event: Mor gage Industry Income (Ater Toxes)+: As a fresh college graduate, you recently resumed a dream job with a top engineering firm while your starting annual salary is $50,000, you are expected to receive a 4% annual pay raise and your annual salary puts you in the 20% income tax bracket. (Also assume you get no tax refund in each tax season, Expenses- 1) You have decided to move on to the next big phase of your life -becoming a homeowner. To this end, you take on a 30 year, 7% mortgage with an original balance of $150,000. You start paying monthly mortgage patments. 2) Each month, you also pay $250 into a reserve account, which the bank uses to pay your home insurance and property taxes 3) Your total monthly expenses for other necessities including food, transportation, personal care, entertainment, etc is $650 and you expect this to increase by 4% annually