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    Timov Rev1

    Uploaded by

    Sheetal Sabharwal
    This document analyzes the Timov family budget to evaluate two different mortgage plans based on their projected annual income of $103,500 along with expenses including taxes, car payments, health insurance, and other costs. It provides monthly and annual breakdowns of their income and expenses to calculate their net cash flow under each mortgage plan over 30 years to determine which plan is more affordable. Key details included are the family members' incomes, annual tax amount, and the principal, interest rate, and monthly payments for each mortgage plan.

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    Timov Rev1

    Uploaded by

    Sheetal Sabharwal
    41 views2 pages
    This document analyzes the Timov family budget to evaluate two different mortgage plans based on their projected annual income of $103,500 along with expenses including taxes, car payments, health insurance, and other costs. It provides monthly and annual breakdowns of their income and expenses to calculate their net cash flow under each mortgage plan over 30 years to determine which plan is more affordable. Key details included are the family members' incomes, annual tax amount, and the principal, interest rate, and monthly payments for each mortgage plan.

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    Timov_Rev1

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    This document analyzes the Timov family budget to evaluate two different mortgage plans based on their projected annual income of $103,500 along with expenses including taxes, car payments, health insurance, and other costs. It provides monthly and annual breakdowns of their income and expenses to calculate their net cash flow under each mortgage plan over 30 years to determine which plan is more affordable. Key details included are the family members' incomes, annual tax amount, and the principal, interest rate, and monthly payments for each mortgage plan.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    41 views2 pages

    Timov Rev1

    Uploaded by

    Sheetal Sabharwal
    This document analyzes the Timov family budget to evaluate two different mortgage plans based on their projected annual income of $103,500 along with expenses including taxes, car payments, health insurance, and other costs. It provides monthly and annual breakdowns of their income and expenses to calculate their net cash flow under each mortgage plan over 30 years to determine which plan is more affordable. Key details included are the family members' incomes, annual tax amount, and the principal, interest rate, and monthly payments for each mortgage plan.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    Timov Family Budget

    Author Sheetal
    Date 12/8/2021
    Purpose To evaluate two mortgage proposals based on projected income and expenses
    Timov Family Budget
    Annual Rate 6.70%

    Mortgage Plan 1
    Choose a Mortgage Plan (1 or 2) 1 Compounded per Yr. 12
    Monthly Rate (Rate) 0.56%
    Monthly Years 30
    Year-End Summary Yearly Average Maximum Minimum Total Months (Nper) 360
    Sergei 60,000 5,000 5,000 5,000 Principal (PV) 395,000
    Income

    Ava 43,500 3,625 5,200 1,100 Payment (PMT) ($2,548.85)


    Total 103,500 8,625 10,200 6,100
    Taxes 30,700 2,558 2,900 1,900 Annual Rate

    Mortgage Plan 2
    Car Payments 3,660 305 305 305 Compounded per Yr.
    Expenses

    Health Insurance 7,620 635 635 635 Monthly Rate (Rate)


    Other 21,200 1,767 5,800 800 Years
    Mortgage - Total Months (Nper)
    Total Principal (PV)
    Net Cash Flow Payment (PMT)

    Monthly Values Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
    Sergei 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
    Income

    Ava 4,100 4,500 4,800 5,200 3,300 2,700 1,100 3,000 3,300 3,800 4,000 3,700
    Total 9,100 9,500 9,800 10,200 8,300 7,700 6,100 8,000 8,300 8,800 9,000 8,700
    Taxes 2,900 2,800 2,700 2,900 2,400 2,300 1,900 2,400 2,400 2,600 2,800 2,600
    Car Payments 305 305 305 305 305 305 305 305 305 305 305 305
    Expenses

    Health Insurance 635 635 635 635 635 635 635 635 635 635 635 635
    Other 4,900 950 950 800 900 900 1,700 5,800 800 900 1,200 1,400
    Mortgage
    Total 8,740 4,690 4,590 4,640 4,240 4,140 4,540 9,140 4,140 4,440 4,940 4,940
    Net Cash Flow 360 4,810 5,210 5,560 4,060 3,560 1,560 (1,140) 4,160 4,360 4,060 3,760

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