Future Projected

Project
Nidia Rojas Del Real
Period 6 Finite Math
January 26,2017

Dream Job: Police Detective

Description: Detectives spend much of their time compiling

information and evidence for the cases they are assigned. They wear
plain clothes, not uniform. They interview suspects, witnesses, and
victims as they try to piece together the story of how the crime that they
are investigating occurred.

Annual Salary: $60,270

Education Required: ranges from high school to a college diploma and

academy training

Dream Car: Toyota

Make: Toyota

Model: Toyota highlander

Year: 2016

Cost: $25,000

Dream House: Kite Ridge at Sycamore Creek

Bedrooms: 4
Bathrooms: 3
Home Type: Two story house
Location: Corona, Ca.
Sq. Feet: 3,120
Cost: $484,900

Annuities: Thinking Retirement

Insurance Company IRA
If I would save $1,500.00 per year
into my IRA account and a 30%
marginal tax,
Net yield for investment = 10%
20 years in: $80,733.75
Overall, after 20 years of $ 1,500
annually and being taxed I would
have: $42,253.95

Savings Account
Saving $1,500.00 annually and
a 30% marginal tax .
Net yield for investment =
7.57%
20 years in: $37,343.16
Overall, after 20 years of
$1,500 I would have:
$35,888.19

Amortize: Car Loan

For my Toyota highlander, it costs $25,000.
To pay it off at the end of 3 years, I will borrow money from the bank
and with that comes a 8% interest rate.
End of

Period

Investment
Charged

Payment Made

Payment Toward

Outstanding

Principal

Principal

$ 25,000

$ 2,000

$ 9,700.83

$ 7,700.83

$ 17,299.17

$ 1,383.93

$ 9,700.83

$ 8,316.90

$ 8,982.27

$ 718.58

$ 9,700.83

$ 8982.25

$ .02

Amortize: Car
Loan
For my Toyota highlander, it costs $25,000.
To pay it off at the end of 5 years, I will borrow money from the
bank and with that comes a 8% interest rate.
End of

Interest

Repayment

Payemnt

Outstanding

Period

Charged

Made

Toward

Principal

Principal

$ 25,000

$ 2,000

$ 6,261.41

$ 4,261.41

$ 20,738.59

$ 1,659.08

$ 6,261.41

$ 4,602.33

$ 16,136.26

$ 1,290.90

$ 6,261.41

$ 4,970.51

$ 11,165.75

$ 893.26

$ 6,261.41

$ 5,368.15

$ 5,797.60

$ 463.80

$ 6,261.41

$ 5,797.61

$ -0.01

Amortize: Car Loan

For my Toyota highlander, it costs $25,000.

To pay it off at the end of 7 years, I will borrow money from the
bank and with that comes a 8% interest rate.
End of

Period

Investment
Charged

Repayment
Made

Payment
Toward

Principal

Outstandin
g Principal

$ 25,000

$2,000

$ 4,801.81

$ 2,801.81

$ 22,198.19

$1,775.85

$ 4,801.81

$ 3,025.96

$ 19,172.23

$1,533.77

$ 4,801.81

$ 3,268.04

$ 15,904.19

$ 1,272.33

$ 4,801.81

$ 3,529.48

$ 12,374.71

$ 989.97

$ 4,801.81

$ 3,811.84

$ 8,562.87

$ 685.02

$ 4,801.81

$ 4,116.79

$ 4,446.08

Amortize: Car Loan

In order to Amortize my car loan at the end of 5 year, my monthly

payment would be $521.78. ( $6,261.41 / 12)

In order to do that I will have to borrow money from the bank that
has an 8% interest rate per year since my Toyota costs $25,000.

Amortize: Cost of Home

Dream home cost: $484,900

Interest rate: 5.4%

Payments throughout 30 years: $2,749.67

Home Affordability
My monthly affordable home payment, I believe is
the same: $2,749.67
I can afford my dream home but I can put some
down payment to ease future payments.