Find a home on realtor and then estimate monthly payments

Reference no: EM132412706

Assignment -

1) (estimate the 1 and 5-6 year salaries by looking at the graph). Keep in mind that the median salary is probably for someone that has been on the job for about 10 years (average length of time). However, some jobs, like HVAC Mechanic have different levels (I,II and III for example) that are adjusted for the number of years of experience so you can get the answers by choosing different job descriptions (make sure to read them to see they match the job you want).

2) This will answer all the questions for #2. Make sure to adjust the pay rate on the left and include all tax with-holdings for the location where you plan to live (certain states like NH don't have State income tax)

3) Consider a Roth IRA. Use the Finance APP on your Calculator to estimate how much you will have in your retirement account if you save a certain amount and invest in stocks which have an average annual return of 10.8%. There are other future value of annuity calculators on the web that will also estimate what you can earn in the future by investing.

4) Find a home on realtor and then estimate the monthly payments using either the finance app on the calculator or by going to "Amortization calculator Bret" Google this and use the one I demonstrated in class many times recently and when we did the financial unit. Make sure that your monthly payment is not more than 25% of your net monthly salary calculated in #2. Keep in mind that taxes and insurance, collected in an escrow account, will add approximately 30% to your monthly payment so be ready for that too.

5) Go to a site like Travelocity and find the cost of flight and hotel. Then figure how how much you would spend per day for food and fun and then convert that amount to the local currency. First find what currency the country uses then google "currency converter calculator" and select US dollar (USD) and the currency of the country you are choosing to visit.

6) Make a pie chart of your average monthly budget. Include savings for retirement and extra vacation savings as well as the taxes you already calculated would come out of your paycheck in #2.

Go to Excel and enter the information like as below, once you've entered all the categories, highlight the data, click on insert and select Pie Chart.

A B

Monthly Budget

Rent $740

Car Payment $250

Food $300

Etc.

Attachment:- Assignment Files.rar

Reference no: EM132412706

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