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Amortization Schedule monthly payment for a 30 year mortgag : \ 5,3 0 " check your numbers!) (Note: if this is more that2 or 3 cents different from your calculation,
Total interest paid over 30 years : [65tGt8,co Total amount repaid =
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Notice that the amount of the payment that goes towards the principal and the amount that goes

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As already mentioned, these payments are for principal and interest only. You will also have monthly payments for home insurance and propefy taxes. In addition, it is helpful to have money left over for those little lrururies like electricity, running water, and food. As a wise home owner, you decide that yorn monthly principal and interest payment should not exceed 35Yo of your monthly take-home pay. What minimum monthly take-home pay should you have in order to meet this goal? Show your work for making this calculation.

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It is also important to note that your net or take-home pay (after tares) is less than youlpfoss pay (before taxes). Assuming that your net pay is73a/o of your gross pay, uihat minimum-gross annual salary will you need to make to have the monthly net salary stated above? Show your
work for making this calculation.

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q, S A Minimum gross annual salary : l1 q,T I

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