Question
You have just graduated from ACME State with a degree in Diesel Technology.Your new job takes you to Toledo, Ohio.You are now earning $35,000 per
You have just graduated from ACME State with a degree in Diesel Technology.Your new job takes you to Toledo, Ohio.You are now earning $35,000 per year.Your take home pay is 70% of that gross total.You are anxious to purchase a home.You have the following monthly expenses: Food$275 Utilities$145 Phone$75 Medical$30 Insurance$130 (including auto, health and life) Clothing$70 Student loan payment$145 VISA payment$65 MasterCard Payment$48 Car payment$211 Miscellaneous$100 First calculate your monthly take-home pay.Next, add up the budgeted monthly expenses shown above.How much remains for a monthly mortgage PITI payment (PITI = principal, interest, taxes, insurance)? |
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