Final Assignment Part B

As a financial planner, you have been asked by the bishop to help a family in the ward. You have met with Brother and Sister H
to gather all of their financial information and present it to you. During the last meeting they expressed dispair concerning their
with the following information. They have expressed a sincere desire to put their financial life in order, no matter what sacrifice

You have suggested a family council, and they have explained to their 3 children that everyone will be involved in learning corr
During your previous visit you helped them cut up all of their credit cards. They have made a commitment to "pay as you go",
You have been asked to prepare a comprehensive financial plan that will help them now, as well as prepare them for retiremen
Brother and Sister Hopeful are both 35 years old.

Brother Hopeful has a good job and brings home $4,800 / month in net take home pay. He does have a profit sharing program
in the amount of $150 / month. Sister Hopeful does a small part time job out of their home while the children are at school and

They currently have 2 cars. The older car is paid off, but they still have a payment of $200 / month on the new car for 28 more
but they have a first mortgage payment of $1,149.00 / month on the loan at 6% APR, and $582.82 / month payment on the 2nd
When they purchased their home 8 years ago they made a substantial downpayment, and their home is currently worth $175,0

The average monthly expenses that they have provided show the following: $450 / food, $155 / several lessons for each child
$70 / life insurance, $200 / medical insurance, $120 / car insurance for both cars, $25 / internet, $95 / cable TV, $275 / all utiliti
$85 / cell phone program for both, $170 / gas for both cars, $85 / bowling league, $35 / newspaper, $30 / misc.
They pay $615 in tithing and offerings and $35 to other charities.

They have given you the following information concerning their debt. Because they cannot make all of their payments, they ha
and in some cases, they have missed payments. They are always receiving debt collection phone calls and there is significan
Sister Hopeful's mother has made some of the payments for them, but her family is not very well off and can't help much longe
Amount
$6,000.00
$1,000.00
$12,619.08
$19,225.00
$5,200.00
$1,969.78
$1,876.97
$49,612.40
$119,412.57
$216,915.80

APR %
12.0%
15.0%
11.0%
6.0%
9.0%
12.0%
15.0%
9.5%
6.0%

Current Payments
Payment Remaining Description
$158.00
48
Credit Card #1
$34.67
36
Credit Card #2
$274.37
60
Credit Card #3
$280.85
84
Credit Union Loan
$200.00
28
Car Loan
$92.72
24
Gas Credit Card
$65.07
36
Medical Bill
$582.82
142
2nd Mortgage
$1,149.00
147
1st Mortgage
$2,837.50

Total debt

After reading your written report, the bishop has asked you to serve on a ward council welfare committee to help this faithful fa
As a minimum, the committee has been asked to prepare a monthly budget of their current situation, a proposed budget to hel
eliminate all of their debt and prepare them for retirement.

You will receive up to 5 points for the budget of their current situation, up to 10 points for a proposed budget along with sugges
and you will receive up to 10 points for a detailed plan to eliminate their debt and establish a retirement plan (5 + 10 + 10 = 25
Submit all of your completed spreadsheet for grading.

e met with Brother and Sister Hopeful and have asked them
essed dispair concerning their situation and presented you
order, no matter what sacrifices they have to make.

will be involved in learning correct principles for everyone's long term benefit.
mmitment to "pay as you go", but need help to know where to begin.
as prepare them for retirement.
have a profit sharing program where the company contributes to his 401k
the children are at school and brings home a net take home paycheck of $350 per month.

th on the new car for 28 more months at 7% APR. They own their home
82 / month payment on the 2nd mortgage at 9.5% APR.
home is currently worth $175,000.

several lessons for each child, $30 / laundry, $20 / dry cleaning, $15 / gifts
$95 / cable TV, $275 / all utilities, $75 home phone service,
er, $30 / misc.

e all of their payments, they have been making minimum payments,

ne calls and there is significant stress in their home.
off and can't help much longer.

x
x
x
x
x
x
x
x

mmittee to help this faithful family.

tion, a proposed budget to help them progress forward, and a detailed plan to

sed budget along with suggested changes to meet your plans,

ement plan (5 + 10 + 10 = 25 points total).

12 Month Budget Example

Name James Rudd, Kara Beckstead, Kaci Roll, David Contra-Dancing
Section FIN 101

$ per/hr

PT Hours

Income Calculations
PT Salary FT Hours

FT Salary

Todd
Melanie
Total

Income
Gross Combined Income
Combined Take Home Pay

May

Jun

Jul

Aug

Sep

$5,150

$5,150

$5,150

$5,150

$5,150

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$450
$50
$160
$120

$451
$50
$160
$120

$452
$50
$160
$120

$453
$50
$160
$120

$454
$50
$160
$120

$165

$165

$165

$165

$165

$4,517

$4,518

$4,519

$4,520

$4,521

Surplus / (Deficit)

$633

$632

$631

$630

$629

Total Savings/(Debt)

$633

$1,265

$1,897

$2,527

$3,156

Expenses
Contributions
Rent
Children Lessons
Utilities
Car Payment
Gas
Insurance
Repairs
Groceries
Clothing
Phone (home, cell)
Entertainment
School Costs
Miscellaneous
Vacation
Total Expenses

Will they have a Surplus

at the end of the 12 months?
a. Yes
b. No
Based on their projected budget, list 3 suggestions for Todd and Melanie
1. Spend $50 less in miscellaneous

1. Spend $50 less in miscellaneous

Take $25 out of Miscellaneous and $25 out of entertainment

3.

This is their current budget. The surplus showing is incorrect due to the interest on house payments
See Instructions Part B

Aug Salary

Oct

Nov

Dec

Jan

Feb

Mar

Apr

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$5,150

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$455
$50
$160
$120

$456
$50
$160
$120

$457
$50
$160
$120

$458
$50
$160
$120

$459
$50
$160
$120

$460
$50
$160
$120

$461
$50
$160
$120

$165

$165

$165

$165

$165

$165

$165

$4,522

$4,523

$4,524

$4,525

$4,526

$4,527

$4,528

$628

$627

$626

$625

$624

$623

$622

$3,784

$4,411

$5,037

$5,663

$6,287

$6,910

$7,532

Total
$61,800

tainment

$ per/hr

Income Calculations
PT Salary
FT Hours

PT Hours

Todd
Melanie
Total

Income
May
Gross Combined Income
Combined Take Ho
$5,150

Jun

Jul

Aug

$5,150

$5,150

$5,150

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$450
$50
$160
$70

$451
$50
$160
$70

$452
$50
$160
$70

$453
$50
$160
$70

$115

$115

$115

$115

$4,417

$4,418

$4,419

$4,420

Surplus / (Deficit)

$733

$732

$731

$730

Total Savings/(Debt

$733

$1,465

$2,197

$2,927

Expenses
Contributions
Rent
Children Lessons
Utilities
Car Payment
Gas
Insurance
Repairs
Groceries
Clothing
Phone (home, cell)
Entertainment
School Costs
Miscellaneous
Vacation
Total Expenses

FT Salary

Aug Salary

Sep

Oct

Nov

Dec

Jan

$5,150

$5,150

$5,150

$5,150

$5,150

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$454
$50
$160
$70

$455
$50
$160
$70

$456
$50
$160
$70

$457
$50
$160
$70

$458
$50
$160
$70

$115

$115

$115

$115

$115

$4,421

$4,422

$4,423

$4,424

$4,425

$729

$728

$727

$726

$725

$3,656

$4,384

$5,111

$5,837

$6,563

Feb

Mar

Apr

Total

$5,150

$5,150

$5,150

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$650
$1,732
$155
$275
$200
$170
$390

$459
$50
$160
$70

$460
$50
$160
$70

$461
$50
$160
$70

$115

$115

$115

$4,426

$4,427

$4,428

$724

$723

$722

$7,287

$8,010

$8,732

$61,800

monthly interest

1.25%

Amount
$1,876.97

APR %
15.0%

Current Payments
Payment Remaining Description
$65.07
36
Medical Bill

This debt will be paid off first in 14 months

with $135.76 dollars left on the last
payment. $165.07 will be put toward next
debt

1
2
3
4
5
6
7
8
9
10
11
12
13
14

Balance
$1,876.97
$1,733.30
$1,587.83
$1,440.55
$1,291.42
$1,140.43
$987.55
$832.76
$676.04
$517.36
$356.69
$194.01
$29.31
$135.76

Payment
Interest
Equity
$165.07
$21.40
$143.67
$165.07
$19.60
$145.47
$165.07
$17.78
$147.29
$165.07
$15.94
$149.13
$165.07
$14.08
$150.99
$165.07
$12.19
$152.88
$165.07
$10.28
$154.79
$165.07
$8.35
$156.72
$165.07
$6.39
$158.68
$165.07
$4.40
$160.67
$165.07
$2.40
$162.67
$165.07
$0.36
$164.71
$165.07
$0.00
$165.07
$165.07
$1.70
$166.77

monthly inter

1.25%

Amount
$1,000.00

APR %
15.0%

Current Payments
Payment Remaining Description
$34.67
36
Credit Card #

Four months later this debt will be paid off with the
added payment from the medical bill. $74.63 will be
left to add to the next debt's on the 18th month
payment.After that $199.74/month will be put toward
the next debt.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

Balance
$1,000.00
$977.40
$954.51
$931.34
$907.88
$884.12
$860.07
$835.72
$811.06
$786.10
$760.82
$735.23
$709.31
$683.08
$519.05
$323.30
$125.11
$74.63

Payment
Interest
Equity
$34.67
$12.07
$22.60
$34.67
$11.78
$22.89
$34.67
$11.50
$23.17
$34.67
$11.21
$23.46
$34.67
$10.92
$23.75
$34.67
$10.62
$24.05
$34.67
$10.32
$24.35
$34.67
$10.01
$24.66
$34.67
$9.70
$24.97
$34.67
$9.39
$25.28
$34.67
$9.08
$25.59
$34.67
$8.76
$25.91
$34.67
$8.43
$26.24
$170.43
$6.41
$164.02
$199.74
$3.99
$195.75
$199.74
$1.54
$198.20
$199.74
$0.00
$199.74
$199.74
$3.43
$203.17

monthly inter

1.00%

Amount
$6,000.00

APR %
12.0%

Current Payments
Payment Remaining Description
$158.00
48
Credit Card #

Debt paid of on the 32th month with

$73.89 left. $450.46 to be put toward
next debt.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Balance
$6,000.00
$5,902.00
$5,803.02
$5,703.05
$5,602.08
$5,500.10
$5,397.10
$5,293.07
$5,188.00
$5,081.88
$4,974.70
$4,866.45
$4,757.11
$4,646.69
$4,535.15
$4,422.50
$4,308.73
$4,193.82
$4,003.12
$3,685.42
$3,364.53
$3,040.44
$2,713.10
$2,382.49
$2,048.58
$1,686.67
$1,253.08
$815.15
$372.84
$73.89

Payment
Interest
Equity
$158.00
$60.00
$98.00
$158.00
$59.02
$98.98
$158.00
$58.03
$99.97
$158.00
$57.03
$100.97
$158.00
$56.02
$101.98
$158.00
$55.00
$103.00
$158.00
$53.97
$104.03
$158.00
$52.93
$105.07
$158.00
$51.88
$106.12
$158.00
$50.82
$107.18
$158.00
$49.75
$108.25
$158.00
$48.66
$109.34
$158.00
$47.57
$110.43
$158.00
$46.47
$111.53
$158.00
$45.35
$112.65
$158.00
$44.23
$113.77
$158.00
$43.09
$114.91
$232.63
$41.94
$190.69
$357.74
$40.03
$317.71
$357.74
$36.85
$320.89
$357.74
$33.65
$324.09
$357.74
$30.40
$327.34
$357.74
$27.13
$330.61
$357.74
$23.82
$333.92
$382.39
$20.49
$361.90
$450.46
$16.87
$433.59 payment added from Gas Card Debt
$450.46
$12.53
$437.93
$450.46
$8.15
$442.31
$450.46
$3.73
$446.73
$450.46
$0.74
$451.20

monthly inter

1.00%

Amount
$1,969.78

APR %
12.0%

Current Payments
Payment Remaining Description
$92.72
24
Gas Credit C

This debt will be paid off first in 14

months with $24.65 dollars left on the
last payment. $92.72 toward next debt

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Balance
$1,969.78
$1,895.83
$1,821.14
$1,745.71
$1,669.52
$1,592.56
$1,514.84
$1,436.34
$1,357.06
$1,276.98
$1,196.11
$1,114.42
$1,031.92
$948.59
$864.43
$779.42
$693.57
$606.86
$519.28
$430.83
$341.49
$251.26
$160.12
$68.07
$24.65

Payment
Interest
Equity
$92.72
$18.77
$73.95
$92.72
$18.03
$74.69
$92.72
$17.28
$75.44
$92.72
$16.53
$76.19
$92.72
$15.77
$76.95
$92.72
$15.00
$77.72
$92.72
$14.22
$78.50
$92.72
$13.44
$79.28
$92.72
$12.64
$80.08
$92.72
$11.84
$80.88
$92.72
$11.03
$81.69
$92.72
$10.22
$82.50
$92.72
$9.39
$83.33
$92.72
$8.56
$84.16
$92.72
$7.72
$85.00
$92.72
$6.87
$85.85
$92.72
$6.01
$86.71
$92.72
$5.14
$87.58
$92.72
$4.27
$88.45
$92.72
$3.38
$89.34
$92.72
$2.49
$90.23
$92.72
$1.59
$91.13
$92.72
$0.67
$92.05
$92.72
$0.00
$92.72
$92.72
$1.17
$93.89

monthly inter

0.75%

Amount
$5,200.00

APR %
9.0%

Current Payments
Payment Remaining Description
$200.00
28
Car Loan

This debt will be paid off first in 14

months with $108.53 dollars left on the
last payment.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

Balance
$5,200.00
$5,039.00
$4,876.79
$4,713.37
$4,548.72
$4,382.83
$4,215.71
$4,047.32
$3,877.68
$3,706.76
$3,534.56
$3,361.07
$3,186.28
$3,010.18
$2,832.75
$2,654.00
$2,473.90
$2,292.46
$2,109.65
$1,925.47
$1,739.91
$1,552.96
$1,364.61
$1,174.84
$983.66
$791.03
$596.97
$401.44
$204.45
$5.99
$193.97

Payment
Interest
Equity
$200.00
$39.00
$161.00
$200.00
$37.79
$162.21
$200.00
$36.58
$163.42
$200.00
$35.35
$164.65
$200.00
$34.12
$165.88
$200.00
$32.87
$167.13
$200.00
$31.62
$168.38
$200.00
$30.35
$169.65
$200.00
$29.08
$170.92
$200.00
$27.80
$172.20
$200.00
$26.51
$173.49
$200.00
$25.21
$174.79
$200.00
$23.90
$176.10
$200.00
$22.58
$177.42
$200.00
$21.25
$178.75
$200.00
$19.90
$180.10
$200.00
$18.55
$181.45
$200.00
$17.19
$182.81
$200.00
$15.82
$184.18
$200.00
$14.44
$185.56
$200.00
$13.05
$186.95
$200.00
$11.65
$188.35
$200.00
$10.23
$189.77
$200.00
$8.81
$191.19
$200.00
$7.38
$192.62
$200.00
$5.93
$194.07
$200.00
$4.48
$195.52
$200.00
$3.01
$196.99
$200.00
$1.53
$198.47
$200.00
$0.04
$199.96
$200.00
$1.45
$201.45

monthly inter

0.92%

Amount
$12,619.08

APR %
11.0%

Current Payments
Payment Remaining Description
$274.37
60
Credit Card #

This debt will be paid off first in 42

months with $672.54 dollars left on the
last payment. $724.83 will be put
toward next debt

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42

Balance
$12,619.08
$12,457.87
$12,295.18
$12,131.00
$11,965.32
$11,798.12
$11,629.38
$11,459.10
$11,287.25
$11,113.84
$10,938.83
$10,762.21
$10,583.98
$10,404.12
$10,222.60
$10,039.43
$9,854.57
$9,668.02
$9,479.76
$9,289.77
$9,098.04
$8,904.55
$8,709.29
$8,512.24
$8,313.39
$8,112.71
$7,910.19
$7,705.82
$7,499.57
$7,291.43
$7,006.81
$6,339.57
$5,666.21
$4,986.67
$4,300.91
$3,608.86
$2,910.47
$2,205.67
$1,494.42
$776.64
$52.29
$672.54

Payment
Interest
Equity
$274.37
$113.16
$161.21
$274.37
$111.68
$162.69
$274.37
$110.19
$164.18
$274.37
$108.69
$165.68
$274.37
$107.17
$167.20
$274.37
$105.63
$168.74
$274.37
$104.09
$170.28
$274.37
$102.53
$171.84
$274.37
$100.95
$173.42
$274.37
$99.36
$175.01
$274.37
$97.76
$176.61
$274.37
$96.14
$178.23
$274.37
$94.50
$179.87
$274.37
$92.86
$181.51
$274.37
$91.19
$183.18
$274.37
$89.51
$184.86
$274.37
$87.82
$186.55
$274.37
$86.11
$188.26
$274.37
$84.38
$189.99
$274.37
$82.64
$191.73
$274.37
$80.88
$193.49
$274.37
$79.11
$195.26
$274.37
$77.32
$197.05
$274.37
$75.51
$198.86
$274.37
$73.69
$200.68
$274.37
$71.85
$202.52
$274.37
$70.00
$204.37
$274.37
$68.12
$206.25
$274.37
$66.23
$208.14
$348.26
$63.65
$284.61
$724.83
$57.58
$667.25
$724.83
$51.47
$673.36
$724.83
$45.30
$679.53
$724.83
$39.07
$685.76
$724.83
$32.78
$692.05
$724.83
$26.44
$698.39
$724.83
$20.04
$704.79
$724.83
$13.57
$711.26
$724.83
$7.05
$717.78
$724.83
$0.47
$724.36
$724.83
$0.00
$724.83
$724.83
$12.81
$737.64

monthly inter

0.50%

Amount
$19,225.00

APR %
6.0%

Current Payments
Payment Remaining Description
$280.85
84
Credit Union Loan

This debt will be paid off with $862.38

dollars left on the last payment.
$1005.68 will be put toward next debt.
Out of all consumer debt in 54 months
or 4.5 years

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50

Balance
$19,225.00
$19,038.87
$18,851.81
$18,663.82
$18,474.88
$18,285.00
$18,094.17
$17,902.39
$17,709.65
$17,515.94
$17,321.27
$17,125.62
$16,928.99
$16,731.38
$16,534.19
$16,336.01
$16,136.84
$15,936.67
$15,735.51
$15,533.33
$15,330.15
$15,125.95
$14,920.73
$14,714.49
$14,507.21
$14,298.89
$14,089.54
$13,879.14
$13,667.68
$13,455.17
$13,241.60
$13,026.95
$12,811.24
$12,594.45
$12,376.57
$12,157.60
$11,937.54
$11,716.38
$11,494.11
$11,270.73
$11,046.23
$10,820.61
$9,921.33
$8,965.25
$8,004.40
$7,038.74
$6,068.25
$5,092.92
$4,112.70
$3,127.58

51
52
53
54

$2,137.54
$1,142.55
$142.58
$862.38

Payment
Interest
Equity
$280.85
$94.72
$186.13
$280.85
$93.79
$187.06
$280.85
$92.85
$188.00
$280.85
$91.91
$188.94
$280.85
$90.97
$189.88
$280.85
$90.02
$190.83
$280.85
$89.07
$191.78
$280.85
$88.11
$192.74
$280.85
$87.14
$193.71
$280.85
$86.18
$194.67
$280.85
$85.20
$195.65
$280.85
$84.22
$196.63
$280.85
$83.24
$197.61
$280.85
$83.66
$197.19
$280.85
$82.67
$198.18
$280.85
$81.68
$199.17
$280.85
$80.68
$200.17
$280.85
$79.68
$201.17
$280.85
$78.68
$202.17
$280.85
$77.67
$203.18
$280.85
$76.65
$204.20
$280.85
$75.63
$205.22
$280.85
$74.60
$206.25
$280.85
$73.57
$207.28
$280.85
$72.54
$208.31
$280.85
$71.49
$209.36
$280.85
$70.45
$210.40
$280.85
$69.40
$211.45
$280.85
$68.34
$212.51
$280.85
$67.28
$213.57
$280.85
$66.21
$214.64
$280.85
$65.13
$215.72
$280.85
$64.06
$216.79
$280.85
$62.97
$217.88
$280.85
$61.88
$218.97
$280.85
$60.79
$220.06
$280.85
$59.69
$221.16
$280.85
$58.58
$222.27
$280.85
$57.47
$223.38
$280.85
$56.35
$224.50
$280.85
$55.23
$225.62
$953.39
$54.10
$899.29
$1,005.68
$49.61
$956.07
$1,005.68
$44.83
$960.85
$1,005.68
$40.02
$965.66
$1,005.68
$35.19
$970.49
$1,005.68
$30.34
$975.34
$1,005.68
$25.46
$980.22
$1,005.68
$20.56
$985.12
$1,005.68
$15.64
$990.04

$1,005.68
$1,005.68
$1,005.68
$1,005.68

$10.69
$5.71
$0.71
$4.31

$994.99
$999.97
$1,004.97
$1,009.99

monthly inter

0.79%

Amount
$49,612.40

APR %
9.5%

Current Payments
Payment Remaining Description
$582.82
142
2nd Mortgage

This debt will be paid off first in 81

months with $1459.84 dollars left on
the last payment. $1588.50 will be put
toward next debt

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50

Balance
$49,612.40
$49,422.34
$49,230.79
$49,037.71
$48,843.10
$48,646.96
$48,449.26
$48,250.00
$48,049.16
$47,846.73
$47,642.69
$47,437.04
$47,229.77
$47,020.85
$46,810.28
$46,598.04
$46,384.12
$46,168.51
$45,951.19
$45,732.15
$45,511.37
$45,288.85
$45,064.57
$44,838.51
$44,610.66
$44,381.01
$44,149.54
$43,916.24
$43,681.09
$43,444.08
$43,205.19
$42,964.41
$42,721.72
$42,477.12
$42,230.57
$41,982.08
$41,731.62
$41,479.17
$41,224.73
$40,968.27
$40,709.78
$40,449.25
$40,186.65
$39,921.98
$39,655.21
$39,386.32
$39,115.31
$38,842.16
$38,566.84
$38,289.34

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

$38,009.64
$37,727.73
$37,443.59
$37,157.20
$36,006.01
$34,702.56
$33,388.78
$32,064.61
$30,729.96
$29,384.74
$28,028.86
$26,662.26
$25,284.84
$23,896.51
$22,497.19
$21,086.79
$19,665.23
$18,232.41
$16,788.25
$15,332.66
$13,865.54
$12,386.81
$10,896.37
$9,394.14
$7,880.01
$6,353.89
$4,815.69
$3,265.32
$1,702.67
$127.64
$1,459.84

Payment
Interest
Equity
$582.82
$392.76
$190.06
$582.82
$391.26
$191.56
$582.82
$389.74
$193.08
$582.82
$388.22
$194.60
$582.82
$386.67
$196.15
$582.82
$385.12
$197.70
$582.82
$383.56
$199.26
$582.82
$381.98
$200.84
$582.82
$380.39
$202.43
$582.82
$378.79
$204.03
$582.82
$377.17
$205.65
$582.82
$375.54
$207.28
$582.82
$373.90
$208.92
$582.82
$372.25
$210.57
$582.82
$370.58
$212.24
$582.82
$368.90
$213.92
$582.82
$367.21
$215.61
$582.82
$365.50
$217.32
$582.82
$363.78
$219.04
$582.82
$362.05
$220.77
$582.82
$360.30
$222.52
$582.82
$358.54
$224.28
$582.82
$356.76
$226.06
$582.82
$354.97
$227.85
$582.82
$353.17
$229.65
$582.82
$351.35
$231.47
$582.82
$349.52
$233.30
$582.82
$347.67
$235.15
$582.82
$345.81
$237.01
$582.82
$343.93
$238.89
$582.82
$342.04
$240.78
$582.82
$340.13
$242.69
$582.82
$338.21
$244.61
$582.82
$336.28
$246.54
$582.82
$334.33
$248.49
$582.82
$332.36
$250.46
$582.82
$330.38
$252.44
$582.82
$328.38
$254.44
$582.82
$326.36
$256.46
$582.82
$324.33
$258.49
$582.82
$322.29
$260.53
$582.82
$320.22
$262.60
$582.82
$318.14
$264.68
$582.82
$316.05
$266.77
$582.82
$313.94
$268.88
$582.82
$311.81
$271.01
$582.82
$309.66
$273.16
$582.82
$307.50
$275.32
$582.82
$305.32
$277.50
$582.82
$303.12
$279.70

$582.82
$582.82
$582.82
$1,445.35
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50
$1,588.50

$300.91
$298.68
$296.43
$294.16
$285.05
$274.73
$264.33
$253.84
$243.28
$232.63
$221.90
$211.08
$200.17
$189.18
$178.10
$166.94
$155.68
$144.34
$132.91
$121.38
$109.77
$98.06
$86.26
$74.37
$62.38
$50.30
$38.12
$25.85
$13.48
$1.01
$11.56

$281.91
$284.14
$286.39
$1,151.19
$1,303.45
$1,313.77
$1,324.17
$1,334.66
$1,345.22
$1,355.87
$1,366.60
$1,377.42
$1,388.33
$1,399.32
$1,410.40
$1,421.56
$1,432.82
$1,444.16
$1,455.59
$1,467.12
$1,478.73
$1,490.44
$1,502.24
$1,514.13
$1,526.12
$1,538.20
$1,550.38
$1,562.65
$1,575.02
$1,587.49
$1,600.06

monthly inter

0.50%

Amount
$119,412.57

APR %
6.0%

Current Payments
Payment Remaining Description
$1,149.00
147
1st Mortgage

Completely out of debt on the 107

month or 8.9 years.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50

Balance
$119,412.57
$118,860.63
$118,305.94
$117,748.47
$117,188.21
$116,625.15
$116,059.27
$115,490.57
$114,919.02
$114,344.62
$113,767.34
$113,187.18
$112,604.11
$112,018.14
$111,429.23
$110,837.37
$110,242.56
$109,644.77
$109,044.00
$108,440.22
$107,833.42
$107,223.58
$106,610.70
$105,994.76
$105,375.73
$104,753.61
$104,128.38
$103,500.02
$102,868.52
$102,233.86
$101,596.03
$100,955.01
$100,310.78
$99,663.34
$99,012.66
$98,358.72
$97,701.51
$97,041.02
$96,377.22
$95,710.11
$95,039.66
$94,365.86
$93,688.69
$93,008.13
$92,324.17
$91,636.79
$90,945.98
$90,251.71
$89,553.97
$88,852.74

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
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104

$88,148.00
$87,439.74
$86,727.94
$86,012.58
$85,293.64
$84,571.11
$83,844.97
$83,115.19
$82,381.77
$81,644.67
$80,903.90
$80,159.42
$79,411.21
$78,659.27
$77,903.57
$77,144.09
$76,380.81
$75,613.71
$74,842.78
$74,067.99
$73,289.33
$72,506.78
$71,720.31
$70,929.91
$70,135.56
$69,337.24
$68,534.93
$67,728.60
$66,918.25
$66,103.84
$65,285.36
$63,002.94
$60,580.46
$58,145.86
$55,699.09
$53,240.08
$50,768.78
$48,285.13
$45,789.05
$43,280.50
$40,759.40
$38,225.70
$35,679.33
$33,120.22
$30,548.33
$27,963.57
$25,365.88
$22,755.21
$20,131.49
$17,494.65
$14,844.62
$12,181.34
$9,504.75
$6,814.77

105
106
107

$4,111.35
$1,394.41
$1,336.12

Payment
Interest
Equity
$1,149.00
$597.06
$551.94
$1,149.00
$594.30
$554.70
$1,149.00
$591.53
$557.47
$1,149.00
$588.74
$560.26
$1,149.00
$585.94
$563.06
$1,149.00
$583.13
$565.87
$1,149.00
$580.30
$568.70
$1,149.00
$577.45
$571.55
$1,149.00
$574.60
$574.40
$1,149.00
$571.72
$577.28
$1,149.00
$568.84
$580.16
$1,149.00
$565.94
$583.06
$1,149.00
$563.02
$585.98
$1,149.00
$560.09
$588.91
$1,149.00
$557.15
$591.85
$1,149.00
$554.19
$594.81
$1,149.00
$551.21
$597.79
$1,149.00
$548.22
$600.78
$1,149.00
$545.22
$603.78
$1,149.00
$542.20
$606.80
$1,149.00
$539.17
$609.83
$1,149.00
$536.12
$612.88
$1,149.00
$533.05
$615.95
$1,149.00
$529.97
$619.03
$1,149.00
$526.88
$622.12
$1,149.00
$523.77
$625.23
$1,149.00
$520.64
$628.36
$1,149.00
$517.50
$631.50
$1,149.00
$514.34
$634.66
$1,149.00
$511.17
$637.83
$1,149.00
$507.98
$641.02
$1,149.00
$504.78
$644.22
$1,149.00
$501.55
$647.45
$1,149.00
$498.32
$650.68
$1,149.00
$495.06
$653.94
$1,149.00
$491.79
$657.21
$1,149.00
$488.51
$660.49
$1,149.00
$485.21
$663.79
$1,149.00
$481.89
$667.11
$1,149.00
$478.55
$670.45
$1,149.00
$475.20
$673.80
$1,149.00
$471.83
$677.17
$1,149.00
$468.44
$680.56
$1,149.00
$465.04
$683.96
$1,149.00
$461.62
$687.38
$1,149.00
$458.18
$690.82
$1,149.00
$454.73
$694.27
$1,149.00
$451.26
$697.74
$1,149.00
$447.77
$701.23
$1,149.00
$444.26
$704.74

$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$1,149.00
$2,608.84
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50
$2,737.50

$440.74
$437.20
$433.64
$430.06
$426.47
$422.86
$419.22
$415.58
$411.91
$408.22
$404.52
$400.80
$397.06
$393.30
$389.52
$385.72
$381.90
$378.07
$374.21
$370.34
$366.45
$362.53
$358.60
$354.65
$350.68
$346.69
$342.67
$338.64
$334.59
$330.52
$326.43
$315.01
$302.90
$290.73
$278.50
$266.20
$253.84
$241.43
$228.95
$216.40
$203.80
$191.13
$178.40
$165.60
$152.74
$139.82
$126.83
$113.78
$100.66
$87.47
$74.22
$60.91
$47.52
$34.07

$708.26
$711.80
$715.36
$718.94
$722.53
$726.14
$729.78
$733.42
$737.09
$740.78
$744.48
$748.20
$751.94
$755.70
$759.48
$763.28
$767.10
$770.93
$774.79
$778.66
$782.55
$786.47
$790.40
$794.35
$798.32
$802.31
$806.33
$810.36
$814.41
$818.48
$2,282.41
$2,422.49
$2,434.60
$2,446.77
$2,459.00
$2,471.30
$2,483.66
$2,496.07
$2,508.55
$2,521.10
$2,533.70
$2,546.37
$2,559.10
$2,571.90
$2,584.76
$2,597.68
$2,610.67
$2,623.72
$2,636.84
$2,650.03
$2,663.28
$2,676.59
$2,689.98
$2,703.43

$2,737.50
$2,737.50
$2,737.50

$20.56
$6.97
$6.68

$2,716.94
$2,730.53
$2,744.18

FV
PV
NPER
RATE
PMT

###

401K

###

21
8%
2737.5

9 YEARS OUT OF DEBT

### for retirement
150 MONTH

21 Years

Total Retirement Fund

###