Hope Budget

Income

Gross Income
$
4,800.00
$
350.00

Brother Hope
Sister Hope

401K
$
150.00
Total

Expenses
Fixed Expenses

Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage
total

$158.00
$34.67
$274.37
$280.85
$200.00
$92.72
$65.07
$582.82
$1,149.00
$2,837.50

Variable Expenses

Food
Lessons
Laundry
Dry cleaning
Gifts
Life Insurance
Medical Insurance
Car Insurance
Internet
Cable
Utilities
Home Phone
Cell
Gas
Bowling
Newspaper
Misc.
Charity

$450.00
$155.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$95.00
$275.00
$75.00
$85.00
$170.00
$85.00
$35.00
$30.00
$35.00

Tithing
Total

Cash Flow

$615.00
$2,585.00
-$422.50

Net Income
$
4,650.00
$
350.00
$
5,000.00

Hope Budget
Income

Gross Income
$
4,800.00
$
350.00

Brother Hope
Sister Hope

Expenses
Fixed Expenses

Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage

$158.00
$34.67
$274.37
$280.85
$200.00
$92.72
$65.07
$582.82
$1,149.00
rent

total

$2,837.50
Variable Expenses

Food
Lessons
Laundry
Dry cleaning
Gifts
Life Insurance
Medical Insurance
Car Insurance
Internet
Cable
Utilities
Home Phone
Cell
Gas
Bowling
Newspaper
Misc.

$450.00
$155.00
$30.00
$20.00
$15.00
$70.00
$200.00
$120.00
$25.00
$95.00
$275.00
$75.00
$85.00
$170.00
$85.00
$35.00
$30.00

Charity
Tithing
Total
Total Expenses

Cash Flow

$35.00
$615.00
$2,585.00
$5,422.50
-$422.50

Hope Budget
401K
$
Total

New Expenses

Net Income
150.00 $
4,650.00
$
350.00
$
5,000.00

Solution

Fixed Expenses

$158.00
$34.67
$274.37
$280.85
$0.00
$92.72
$65.07
$0.00
$0.00
$1,300.00
$2,205.68

$400.00
$75.00
$0.00
$20.00
$15.00
$20.00
$150.00
$80.00
$25.00
$0.00
$200.00
$0.00
$60.00
$50.00
$0.00
$0.00
$30.00

Adjustments
Sell the second car.

Owning a house is a "classic" sign of being well o

Move into a "rent to own" home. $300 each mont

Meals will be planned at the start of each week a

The kids can split up who goes to which lesson an
Do laundry at home. Wash only what is actually d
dryer only for things that use too much time to h

Life and medical insurance can be much less per

Brother Hope's full time job should offer benefits
Sell the second car.

There are much better ways to spend time, espec

Individual conscious effort to conserve energy. Tu
Home phones are superfluous with cell phones al
Cell phone plans to not need to be very expensiv
Brother Hope uses public transportation, factored
Being in a bowling league is a luxury that won't w
You're paying for internet. All news is readily avai

$35.00
$615.00
$1,775.00
$3,980.68
$1,019.32

After Rent
$2,680.68

Annual Expenses:

sign of being well off and "set," but with so much debt and stress because of it, the home isn't worth o

me. $300 each month wil go toward overall home balance of $225,000. Rent until all debts are paid. Inv

start of each week and grocery trips will correspond with only what is needed for the meals. No eating
s to which lesson and then teach each other individually instead of paying for each child to go to each
ly what is actually dirty, combine loads, and use the
too much time to hang dry.

an be much less per month through a group plan at work

hould offer benefits that he isn't fully utilizing.

o spend time, especially together as a family, than cable tv.

conserve energy. Turn lights off when leaving rooms, unplug chargers, take shorter showers, use the d
s with cell phones allowing people to contact them individually.
to be very expensive. Obscure cell companies that use common network cell towers offer extremely ch
nsportation, factored in, and Sister Hope uses the car for errands which need to be strategically combin
a luxury that won't work with so much debt. Bowl on discount nights maybe once or twice a month, but
news is readily available on online that can be found in a newspaper. Plus its a waste of paper.

nnual Expenses:

$32,168.16

t, the home isn't worth owning if its full of stress and worry. Selling the house and moving into a rental,

til all debts are paid. Invest debt payment amount until remaining home balance is reached. Pay off ho

or the meals. No eating out, pack lunches, and no splurging on unnecessary, expensive snacks that are
each child to go to each lesson.

rter showers, use the dryer sparingly, adjust to the house a little warmer in the summer and a little co

owers offer extremely cheap lines. $60 is considerably generous for this time of line, but it allows room
be strategically combined with picking up the kids.
ce or twice a month, but use the time usually spent bowling to do things as a family or find new ways t
a waste of paper.

se and moving into a rental, preferably closer to Brother Hope's workplace to allow him to walk or bike

alance is reached. Pay off house, continue to invest monthly until account reaches 25 x's annual expen

y, expensive snacks that aren't nutritional and don't fill you up.

n the summer and a little cooler in the winter.

me of line, but it allows room for the children to have a line with the home phone being gone.

s a family or find new ways to produce income.

to allow him to walk or bike to work, gets rid of expensive mortgage payments and extra home owner

reaches 25 x's annual expense average.

phone being gone.

ents and extra home owners costs.

Debt Elimination Calendar Year 1

month.

Credit Card 2 Medical Bill

Gas Credit Card
1 $
1,000.00
$1,876.97
$1,969.78
2
3
4
5
6
7
8
9
10
11
12

Total

1,000.00

Home Value:
175000
Monthly Cash Flow Balance:
$

Amount

APR %

$6,000.00

12.0%
15.0%
11.0%
6.0%
7.0%
12.0%
15.0%
9.5%
6.0%

$1,000.00
$12,619.08
$19,225.00
$5,200.00
$1,969.78
$1,876.97
$49,612.40
$119,412.57

1,876.97
Selling Balance:
1,019.32

$1,969.78
$5,975.03

Current Payment Payments Remaining

$158.00
$34.67
$274.37
$280.85
$200.00
$92.72
$65.07
$582.82
$1,149.00

48
36
60
84
28
24
36
142
147

ar 1
Credit Card 1
Credit Card Credit UnionMonthly Total
$1,177.32 $
274.37 $
280.85 $
6,579.29
$
1,177.32 $
274.37 $
280.85 $
1,732.54
$
1,177.32 $
274.37 $
280.85 $
1,732.54
$
1,177.32 $
274.37 $
280.85 $
1,732.54
$
1,177.32 $
274.37 $
280.85 $
1,732.54
$303.55 $ 1,148.14 $
280.85 $
1,732.54
$ 1,451.69 $
280.85 $
1,732.54
$ 1,451.69 $
280.85 $
1,732.54
$ 1,451.69 $
280.85 $
1,732.54
$ 1,451.69 $
280.85 $
1,732.54
$ 1,451.69 $
280.85 $
1,732.54
$ 1,451.69 $
280.85 $
1,732.54
$6,190.15 $11,230.13

$3,370.20

Debt to Investment Plan

1. Sell Car and house. Assume breaking even on car sale and remaining payment. P
2. Use home profit to pay off Credit card 2, medical bill, and gas credit card.
3. Invest remaining balance to open investment account.
Remaining Balance:
4. Use monthly cash flow balance to pay off remaining debts, beginning with lowest
5. Utilize a debt rollover plan. Pay off all debts in 25 months.
6. Invest same amount previously put towards debt each month.
7. Pay off house. Retire when investment account gets back up to 25 x's new annua
Description
Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage

Years to Pay off House (after debt):

Years to Retirement (after debt):

Debt Elimination Calendar Year 2

month.

Year 1 total
Total

Credit Card 3
Credit Union Loan
1 $
1,451.69 $
280.85
2 $
1,154.80 $
577.74
3
$
1,732.54
4
$
1,732.54
5
$
1,732.54
6
$
1,732.54
7
$
1,732.54
8
$
1,732.54
9
$
1,732.54
10
$
1,732.54
11
$
1,732.54
12
$
1,732.54
$11,230.13
$3,370.20
$
13,836.62 $
21,554.19

on car sale and remaining payment. Profit from home is $5975.03.

dical bill, and gas credit card.
nt account.
emaining Balance:
$1,320.74
maining debts, beginning with lowest balance first.
in 25 months.
debt each month.
unt gets back up to 25 x's new annual expense average.
5
15

Monthly Total
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
$
1,732.54
#

Debt Elimination Calendar Year 3

Credit Union Loan
1 $
1,332.49
2
3
4
5
6
7
8
9
10
11
12
Year 2 total
$
21,554.19
Total
$
22,886.68
month.

$0.00

Rent-to-Own Home
Cost:
Down Payment as of Week 25:
Balance:

$
$
$

250,000.00
8,200.05
241,799.95

Retirement Account Total:

804,204.00

ear 3

Investment Account post Debt

Monthly Total
$
1,332.49
$
$
$
$
$
$
$
$
$
$
$
-

Interest Rate:
Month
Beginning

2%
Investment
1
2
3
4
5
6
7
8
9
10
11
12
13

$
$
$
$
$
$
$
$
$
$
$
$
$

700.05
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

14
15
16
17
18
19
20
21
22

$
$
$
$
$
$
$
$
$

2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

Pay off House

39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

Retirement

168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54
2,032.54

Investment Account post Debt

Plus Interest

Account Balance
$10,897.89
$
11,794.10
$
14,038.94
$
16,324.18
$
18,650.55
$
21,018.80
$
23,429.68
$
25,883.95
$
28,382.41
$
30,925.83
$
33,515.03
$
36,150.84
$
38,834.10
$
41,565.65

Investment Accoun
1
2
3
4
5
6
7
8
9
10
11
12
13

$
$
$
$
$
$
$
$
$
$
$
$
$

196.16
212.29
252.70
293.84
335.71
378.34
421.73
465.91
510.88
556.66
603.27
650.72
699.01

$
$
$
$
$
$
$
$
$

748.18
798.23
849.19
901.06
953.86
1,007.62
1,062.34
1,118.05
1,174.76

$
$
$
$
$
$
$
$
$

44,346.38
47,177.15
50,058.88
52,992.48
55,978.88
59,019.04
62,113.93
65,264.52
68,471.82

14
15
16
17
18
19
20
21
22

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,232.49
1,291.26
1,351.09
1,412.00
1,474.00
1,537.12
1,601.37
1,666.78
1,733.37
1,801.15
1,870.16
1,940.41
2,011.92
2,084.72
2,158.83
2,234.28

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

71,736.85
75,060.65
78,444.29
81,888.82
85,395.36
88,965.02
92,598.93
96,298.25
100,064.16
103,897.85
107,800.55
111,773.50
115,817.97
119,935.23
124,126.60
128,393.42

23
24

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,311.08
2,389.27
2,468.86
2,549.88
2,632.37
2,716.34
2,801.82
2,888.83
2,977.42
3,067.60
3,159.40
3,252.86
3,347.99
3,444.84
3,543.44
3,643.80
3,745.98
3,849.99
3,955.88
4,063.67
4,173.40
4,285.11
46.43
83.85
121.94
160.72
200.20
240.39
281.30
322.95
365.35
408.51
452.45
497.18
542.72
589.07
636.26
684.30
733.20
782.99
833.66
885.26
937.78

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

132,737.05
137,158.85
141,660.25
146,242.68
150,907.58
155,656.46
160,490.82
165,412.19
170,422.15
175,522.29
180,714.23
185,999.63
191,380.16
196,857.54
202,433.52
208,109.86
213,888.38
219,770.91
225,759.33
231,855.54
238,061.47
244,379.12
4,658.14
6,774.52
8,929.00
11,122.27
13,355.01
15,627.94
17,941.78
20,297.27
22,695.16
25,136.22
27,621.21
30,150.93
32,726.19
35,347.80
38,016.60
40,733.44
43,499.18
46,314.70
49,180.91
52,098.71
55,069.02

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

991.24
1,045.67
1,101.08
1,157.48
1,214.90
1,273.36
1,332.86
1,393.44
1,455.11
1,517.89
1,581.79
1,646.85
1,713.08
1,780.50
1,849.14
1,919.01
1,990.14
2,062.54
2,136.25
2,211.29
2,287.68
2,365.45
2,444.61
2,525.20
2,607.24
2,690.75
2,775.77
2,862.32
2,950.43
3,040.12
3,131.43
3,224.38
3,319.01
3,415.34
3,513.40
3,613.22
3,714.85
3,818.30
3,923.62
4,030.83
4,139.97
4,251.07
4,364.18

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

58,092.80
61,171.01
64,304.63
67,494.66
70,742.10
74,048.00
77,413.40
80,839.38
84,327.03
87,877.46
91,491.79
95,171.19
98,916.81
102,729.85
106,611.53
110,563.07
114,585.75
118,680.83
122,849.63
127,093.46
131,413.68
135,811.67
140,288.82
144,846.56
149,486.34
154,209.63
159,017.94
163,912.81
168,895.78
173,968.44
179,132.41
184,389.34
189,740.88
195,188.76
200,734.70
206,380.46
212,127.85
217,978.69
223,934.85
229,998.22
236,170.72
242,454.34
248,851.06

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

4,479.32
4,596.53
4,715.86
4,837.33
4,960.98
5,086.87
5,215.02
5,345.47
5,478.28
5,613.47
5,751.10
5,891.21
6,033.83
6,179.03
6,326.84
6,477.31
6,630.48
6,786.42
6,945.16
7,106.76
7,271.26
7,438.73
7,609.22
7,782.77
7,959.44
8,139.30
8,322.39
8,508.78
8,698.52
8,891.68
9,088.32
9,288.49
9,492.27
9,699.72
9,910.90
10,125.88
10,344.73
10,567.52
10,794.33
11,025.21
11,260.25
11,499.52
11,743.10

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

255,362.91
261,991.99
268,740.38
275,610.25
282,603.77
289,723.18
296,970.74
304,348.75
311,859.57
319,505.58
327,289.22
335,212.97
343,279.34
351,490.91
359,850.29
368,360.13
377,023.15
385,842.11
394,819.81
403,959.11
413,262.91
422,734.18
432,375.94
442,191.24
452,183.23
462,355.06
472,710.00
483,251.32
493,982.38
504,906.60
516,027.46
527,348.50
538,873.31
550,605.57
562,549.01
574,707.43
587,084.70
599,684.77
612,511.63
625,569.38
638,862.17
652,394.23
666,169.87

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

11,991.06
12,243.48
12,500.45
12,762.04
13,028.35
13,299.44
13,575.42
13,856.36
14,142.36
14,433.51
14,729.90
15,031.62
15,338.78
15,651.46
15,969.77
16,293.82
16,623.69
16,959.50
17,301.36
17,649.37
18,003.64
18,364.29
18,731.44
19,105.19
19,485.67
19,873.00
20,267.30

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

680,193.47
694,469.49
709,002.48
723,797.06
738,857.95
754,189.93
769,797.89
785,686.79
801,861.70
818,327.75
835,090.19
852,154.35
869,525.67
887,209.67
905,211.98
923,538.34
942,194.57
961,186.61
980,520.51
1,000,202.42
1,020,238.60
1,040,635.44
1,061,399.42
1,082,537.15
1,104,055.36
1,125,960.89
1,148,260.73

Investment Account During Debt

$1,620.74 $
$
$
300.00 $
29.17 $
$
300.00 $
35.10 $
$
300.00 $
41.13 $
$
300.00 $
47.27 $
$
300.00 $
53.52 $
$
300.00 $
59.88 $
$
300.00 $
66.36 $
$
300.00 $
72.96 $
$
300.00 $
79.67 $
$
300.00 $
86.50 $
$
300.00 $
93.46 $
$
300.00 $
100.54 $

1,620.74
1,949.91
2,285.01
2,626.14
2,973.41
3,326.93
3,686.82
4,053.18
4,426.14
4,805.81
5,192.31
5,585.78
5,986.32

$
$
$
$
$
$
$
$
$

300.00
300.00
300.00
300.00
300.00
300.00
300.00
300.00
300.00

$
$
$
$
$
$
$
$
$

107.75
115.09
122.56
130.17
137.91
145.80
153.82
161.99
170.31

$
$
$
$
$
$
$
$
$

6,394.07
6,809.17
7,231.73
7,661.90
8,099.82
8,545.61
8,999.43
9,461.42
9,931.73

$
$

300.00
300.00

$
$

178.77 $
187.39 $

10,410.50
10,897.89

Loan Amortization
Beginning Principal :
Interest Rate :
Number of Payments :
Monthly Payment :

Credit Card 1

$ 6,000.00
12.0000%
6
$ 158.00

Payments in the first 12 months:

Month
Payment
Interest
Principal
Loan Balance
Beginning
$ 6,000.00
1
$1,177.32
$60.00 $1,117.32
$ 4,882.68
2
$1,177.32
$48.83 $1,128.49
$ 3,754.19
3
$1,177.32
$37.54 $1,139.78
$ 2,614.41
4
$1,177.32
$26.14 $1,151.18
$ 1,463.23
5
$1,177.32
$14.63 $1,162.69
$ 300.54
6
$303.55
$3.01
$300.54
$ 0.00
total
$6,190.15

Exhibit 16

Beginning Principal :
Interest Rate :
Number of Payments :
Monthly Payment :

Credit Card 3

$ 12,619.08
11.0000%
14
$ 274.37

Payments in the first 12 months:

Month
Payment
Interest
Principal
Loan Balance
Beginning
$ 12,619.08
1
$274.37
$126.19
$148.18
$ 12,470.90
2
$274.37
$124.71
$149.66
$ 12,321.24
3
$274.37
$123.21
$151.16
$ 12,170.08
4
$274.37
$121.70
$152.67
$ 12,017.41
5
$274.37
$120.17
$154.20
$ 11,863.21
6
$1,148.14
$118.63
$1,029.51
$ 10,833.70
7
$1,451.69
$108.34
$1,343.35
$ 9,490.35
8
$1,451.69
$94.90
$1,356.79
$ 8,133.56
9
$1,451.69
$81.34
$1,370.35
$ 6,763.21
10
$1,451.69
$67.63
$1,384.06
$ 5,379.15
11
$1,451.69
$53.79
$1,397.90
$ 3,981.25
12
$1,451.69
$39.81
$1,411.88
$ 2,569.37
13
$1,451.69
$25.69
$1,426.00
$ 1,143.37
14
$1,154.80
$11.43
$1,143.37
$ 0.00
Total
$13,836.62

Beginning Principal :
Interest Rate :
Number of Payments :
Monthly Payment :

Credit Union Loan

$ 19,225.00
6.0000%
25
$ 280.85

Payments in the first 12 months:

Month
Payment
Interest
Principal
Loan Balance
Beginning
$ 19,225.00
1
$280.85
$192.25
$88.60
$ 19,136.40
2
$280.85
$191.36
$89.49
$ 19,046.91
3
$280.85
$190.47
$90.38
$ 18,956.53
4
$280.85
$189.57
$91.28
$ 18,865.25
5
$280.85
$188.65
$92.20
$ 18,773.05
6
$280.85
$187.73
$93.12
$ 18,679.93
7
$280.85
$186.80
$94.05
$ 18,585.88
8
$280.85
$185.86
$94.99
$ 18,490.89
9
$280.85
$184.91
$95.94
$ 18,394.95
10
$280.85
$183.95
$96.90
$ 18,298.05
11
$280.85
$182.98
$97.87
$ 18,200.18
12
$280.85
$182.00
$98.85
$ 18,101.33
13
$280.85
$181.01
$99.84
$ 18,001.49
14
$577.74
$180.01
$397.73
$ 17,603.76
15
$1,732.54
$176.04 $1,556.50
$ 16,047.26
16
$1,732.54
$160.47 $1,572.07
$ 14,475.19
17
$1,732.54
$144.75 $1,587.79
$ 12,887.40
18
$1,732.54
$128.87 $1,603.67
$ 11,283.73
19
$1,732.54
$112.84 $1,619.70
$ 9,664.03
20
$1,732.54
$96.64 $1,635.90
$ 8,028.13
21
$1,732.54
$80.28 $1,652.26
$ 6,375.87
22
$1,732.54
$63.76 $1,668.78
$ 4,707.09
23
$1,732.54
$47.07 $1,685.47
$ 3,021.62
24
$1,732.54
$30.22 $1,702.32
$ 1,319.30
25
$1,332.49
$13.19 $1,319.30
$ 0.00
Total
$22,886.68