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Final Assignment Part B

As a financial planner, you have been asked by the bishop to help a family in the ward. You have
Hopeful and have asked them to gather all of their financial information and present it to you. Du
expressed despair concerning their situation and presented you with the following information. Th
desire to put their financial life in order, no matter what sacrifices they have t

You have suggested a family council, and they have explained to their 3 children that everyone will b
principles for everyone's long term benefit. During your previous visit you helped them cut up all of
made a commitment to "pay as you go", but need help to know where to begin. You have been aske
financial plan that will help them now, as well as prepare them for retirement. Brother and Sister H

Brother Hopeful has a good job and brings home $4,800 / month in net take home pay. He does have
the company contributes to his 401kin the amount of $150 / month. Sister Hopeful does a small pa
while the children are at school and brings home a net take home paycheck of $35

They currently have 2 cars. The older car is paid off, but they still have a payment of $200 / month
months at 7% APR. They own their home but they have a first mortgage payment of $1,149.00 / mon
$582.82 / month payment on the 2nd mortgage at 9.5% APR. When they purchased their home 8 yea
down payment, and their home is currently worth $175,000.

The average monthly expenses that they have provided show the following: $450 / food, $155 / seve
laundry, $20 / dry cleaning, $15 / gifts $70 / life insurance, $200 / medical insurance, $120 / car in
internet, $95 / cable TV, $275 / all utilities, $75 home phone service, $85 / cell phone program for bot
/ bowling league, $35 / newspaper, $30 / misc. They pay $615 in tithing and offerings and $

They have given you the following information concerning their debt. Because they cannot make al
been making minimum payments, and in some cases, they have missed payments. They are always
calls and there is significant stress in their home. Sister Hopeful's mother has made some of the paym
not very well off and can't help much longer.

Amount

APR %

Payments
Current Remainin
Payment
g
Description

$119,412.57

12.0% $158.00
15.0%
$34.67
11.0% $274.37
6.0% $280.85
7.0% $200.00
12.0%
$92.72
15.0%
$65.07
9.5% $582.82
6.0% $1,149.00

$216,915.80

$2,837.50

$6,000.00
$1,000.00
$12,619.08
$19,225.00
$5,200.00
$1,969.78
$1,876.97
$49,612.40

48
36
60
84
28
24
36
142
147

Credit Card #1
Credit Card #2
Credit Card #3
Credit Union Loan
Car Loan
Gas Credit Card
Medical Bill
2nd Mortgage
1st Mortgage
Total debt

After reading your written report, the bishop has asked you to serve on a ward council welfare commi
As a minimum, the committee has been asked to prepare a monthly budget of their current situatio
them progress forward, and a detailed plan to eliminate all of their debt and prepare the

After reading your written report, the bishop has asked you to serve on a ward council welfare commi
As a minimum, the committee has been asked to prepare a monthly budget of their current situatio
them progress forward, and a detailed plan to eliminate all of their debt and prepare the

You will receive up to 5 points for the budget of their current situation, up to 10 points for a proposed
changes to meet your plans, and you will receive up to 10 points for a detailed plan to eliminate
retirement plan (5 + 10 + 10 = 25 points total).

Submit all of your completed spreadsheet for grading.

rt B

y in the ward. You have met with Brother and Sister
and present it to you. During the last meeting they
ollowing information. They have expressed a sincere
hat sacrifices they have to make.

ldren that everyone will be involved in learning correct
helped them cut up all of their credit cards. They have
egin. You have been asked to prepare a comprehensive
ent. Brother and Sister Hopeful are both 35 years old.

home pay. He does have a profit sharing program where
r Hopeful does a small part time job out of their home
e home paycheck of $350 per month.

payment of $200 / month on the new car for 28 more
yment of $1,149.00 / month on the loan at 6% APR, and
chased their home 8 years ago they made a substantial
tly worth $175,000.

$450 / food, $155 / several lessons for each child, $30 /
l insurance, $120 / car insurance for both cars, $25 /
ell phone program for both, $170 / gas for both cars, $85
thing and offerings and $35 to other charities.

use they cannot make all of their payments, they have
ments. They are always receiving debt collection phone
made some of the payments for them, but her family is
much longer.

rd council welfare committee to help this faithful family.
et of their current situation, a proposed budget to help
heir debt and prepare them for retirement.

Names:

Benjamin, Dezmon,
Andrew, Trevin

10 points for a proposed budget along with suggested
etailed plan to eliminate their debt and establish a
points total).

eet for grading.

Listing of all debts
Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

How many years to get completely out of debt?
11.6
How much in the back when you complete 30 years of payments$1,438,500.02

Names:

Benjamin, Dezmon,
Andrew, Trevin

The Hopefuls Current Budget vs. Propos

Budget

Changes

Difference

Income

Salary $4,800.00
Interest / Dividends
Other
$350.00
Tota $5,150.00

$4,800.00
$350.00
$5,150.00

Expenses

Savings

$52.50

Fixed Expenses
Rent / $1,731.82
Insuranc $390.00
Loan P $280.85
Other
$65.07
Car
$200.00
Tota $2,667.74
Variable Expenses
Donatio $650.00
Food
$450.00
Clothing $50.00
Utilities $555.00
Home Maintenance
Enterta $275.00
Gifts
$15.00
Charge $559.76
Other
$200.00
Tota $2,754.76

$1,731.82
$390.00
$280.85
$65.07
$200.00
$2,720.24

$515.00
$450.00
$50.00
$385.00

Charity/Tithing to 10%

$155.00
$15.00
$559.76
$200.00

Bowling, newspaper

Cable, home phone

$2,329.76

Total Expenses
$5,422.50

$5,050.00

-$272.50

$100.00

Surpl

Savings

$372.50
use to Rollover

ent Budget vs. Proposed Changes
Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

First Debt = $74.63 + $100.00 = $174.63

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

Payment
$174.63
$174.63
$174.63
$174.63
$174.63

12.0%
Interest
$8.40
$6.74
$5.06
$3.36
$1.65

Principal
$166.23
$167.89
$169.57
$171.27
$172.98

$840.00
Remaining Balance
$673.77
$505.88
$336.31
$165.04
($7.94)

Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

Second Debt, after 5 mths payment goes to $70.61 + 174.63= $245.24

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

Payment
$70.61
$70.61
$70.61
$70.61
$70.61
$245.24
$245.24
$245.24
$245.24
$245.24
$245.24

12.0%
Interest
$15.00
$14.44
$13.88
$13.31
$12.74
$12.16
$9.83
$7.48
$5.10
$2.70
$0.27

Principal
$55.61
$56.17
$56.73
$57.30
$57.87
$233.08
$235.41
$237.76
$240.14
$242.54
$244.97

$1,500.00
Remaining Balance
$1,444.39
$1,388.22
$1,331.50
$1,274.20
$1,216.33
$983.26
$747.85
$510.09
$269.95
$27.41
($217.56)

Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

3rd Debt, after 11 mths payment goes to $126.53 + $245.24= $371.77

Month
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

Payment
$126.53
$126.53
$126.53
$126.53
$126.53
$126.53
$126.53
$126.53
$126.53
$126.53
$126.53
$371.77
$371.77
$371.77
$371.77
$371.77
$371.77
$371.77
$371.77

18.0%
Interest
$52.50
$51.39
$50.26
$49.12
$47.96
$46.78
$45.58
$44.37
$43.14
$41.88
$40.62
$39.33
$34.34
$29.28
$24.14
$18.93
$13.63
$8.26
$2.81

Principal
$74.03
$75.14
$76.27
$77.41
$78.57
$79.75
$80.95
$82.16
$83.39
$84.65
$85.91
$332.44
$337.43
$342.49
$347.63
$352.84
$358.14
$363.51
$368.96

$3,500.00
Remaining Balance
$3,425.97
$3,350.83
$3,274.56
$3,197.15
$3,118.58
$3,038.83
$2,957.88
$2,875.72
$2,792.32
$2,707.68
$2,621.76
$2,289.32
$1,951.89
$1,609.40
$1,261.77
$908.92
$550.79
$187.28
($181.68)

Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

4th Debt, after 18 mths payment goes to $139.49 + $371.77 = $511.26

Month
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

Payment
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$139.49
$511.26
$511.26
$511.26
$511.26
$511.26
$511.26
$511.26
$511.26

10.0%
Interest
$45.83
$45.05
$44.27
$43.47
$42.67
$41.87
$41.05
$40.23
$39.40
$38.57
$37.73
$36.88
$36.03
$35.16
$34.29
$33.42
$32.53
$31.64
$30.74
$26.74
$22.70
$18.63
$14.53
$10.39
$6.21
$2.00

Principal
$93.66
$94.44
$95.22
$96.02
$96.82
$97.62
$98.44
$99.26
$100.09
$100.92
$101.76
$102.61
$103.46
$104.33
$105.20
$106.07
$106.96
$107.85
$480.52
$484.52
$488.56
$492.63
$496.73
$500.87
$505.05
$509.26

$5,500.00
Remaining Balance
$5,406.34
$5,311.91
$5,216.68
$5,120.66
$5,023.85
$4,926.22
$4,827.78
$4,728.53
$4,628.44
$4,527.52
$4,425.76
$4,323.15
$4,219.69
$4,115.36
$4,010.17
$3,904.09
$3,797.14
$3,689.29
$3,208.77
$2,724.25
$2,235.70
$1,743.07
$1,246.33
$745.46
$240.41
($268.85)

Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

After 26 mths payment goes to $154.10 + $528.26 = $665.36

Month
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

Payment
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$154.10
$665.36
$665.36
$665.36
$665.36
$665.36
$665.36
$665.36
$665.36
$665.36
$665.36
$665.36

11.0%
Interest
$82.50
$81.84
$81.18
$80.51
$79.84
$79.16
$78.47
$77.78
$77.08
$76.37
$75.66
$74.94
$74.21
$73.48
$72.74
$72.00
$71.24
$70.49
$69.72
$68.95
$68.16
$67.38
$66.58
$65.78
$64.97
$64.15
$63.33
$57.81
$52.24
$46.62
$40.95
$35.23
$29.45
$23.62
$17.74
$11.80
$5.81

Principal
$71.60
$72.26
$72.92
$73.59
$74.26
$74.94
$75.63
$76.32
$77.02
$77.73
$78.44
$79.16
$79.89
$80.62
$81.36
$82.10
$82.86
$83.61
$84.38
$85.15
$85.94
$86.72
$87.52
$88.32
$89.13
$89.95
$602.03
$607.55
$613.12
$618.74
$624.41
$630.13
$635.91
$641.74
$647.62
$653.56
$659.55

$9,000.00
Remaining Balance
$8,928.40
$8,856.14
$8,783.22
$8,709.64
$8,635.38
$8,560.43
$8,484.80
$8,408.48
$8,331.46
$8,253.73
$8,175.29
$8,096.13
$8,016.25
$7,935.63
$7,854.27
$7,772.17
$7,689.31
$7,605.70
$7,521.32
$7,436.16
$7,350.23
$7,263.50
$7,175.99
$7,087.67
$6,998.54
$6,908.59
$6,306.56
$5,699.01
$5,085.89
$4,467.15
$3,842.74
$3,212.60
$2,576.69
$1,934.95
$1,287.33
$633.77
($25.78)

40

Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

After 37 mths payment goes to $467.06 + $665.36 = $1,082.42

Month
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

Payment
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$467.06
$533.42
$1,136.42

9.0%
Interest Principal
$168.75
$298.31
$166.51
$300.55
$164.26
$302.80
$161.99
$305.07
$159.70
$307.36
$157.39
$309.67
$155.07
$311.99
$152.73
$314.33
$150.37
$316.69
$148.00
$319.06
$145.61
$321.45
$143.20
$323.86
$140.77
$326.29
$138.32
$328.74
$135.85
$331.21
$133.37
$333.69
$130.87
$336.19
$128.35
$338.71
$125.81
$341.25
$123.25
$343.81
$120.67
$346.39
$118.07
$348.99
$115.45
$351.61
$112.81
$354.25
$110.16
$356.90
$107.48
$359.58
$104.78
$362.28
$102.07
$364.99
$99.33
$367.73
$96.57
$370.49
$93.79
$373.27
$90.99
$376.07
$88.17
$378.89
$85.33
$381.73
$82.47
$384.59
$79.58
$387.48
$76.68
$390.38
$73.75
$459.67
$70.30 $1,066.12

$22,500.00
Remaining Balance
$22,201.69
$21,901.14
$21,598.34
$21,293.27
$20,985.91
$20,676.24
$20,364.25
$20,049.93
$19,733.24
$19,414.18
$19,092.73
$18,768.86
$18,442.57
$18,113.83
$17,782.62
$17,448.93
$17,112.74
$16,774.02
$16,432.77
$16,088.95
$15,742.56
$15,393.57
$15,041.96
$14,687.72
$14,330.82
$13,971.24
$13,608.96
$13,243.97
$12,876.24
$12,505.75
$12,132.48
$11,756.42
$11,377.53
$10,995.80
$10,611.21
$10,223.73
$9,833.35
$9,373.68
$8,307.56

40
41
42
43
44
45
46
47
48

$1,136.42
$1,136.42
$1,136.42
$1,136.42
$1,136.42
$1,136.42
$1,136.42
$1,136.42

$62.31
$54.25
$46.13
$37.96
$29.72
$21.42
$13.06
$4.63

$1,074.11
$1,082.17
$1,090.29
$1,098.46
$1,106.70
$1,115.00
$1,123.36
$1,131.79

$7,233.45
$6,151.28
$5,061.00
$3,962.53
$2,855.83
$1,740.83
$617.47
($514.32)

Names:

Benjamin, Dezmon,
Andrew, Trevin

Listing of all debts

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Total Debt
Monthly Income Needed???
Annual Income Needed???

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

$6,086.20
$73,034.40

After 47 mths payment goes to $1,097.75 + $1,136.42 = $2234.37

Month
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

Payment
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95

7.0%
Interest
$962.50
$961.71
$960.92
$960.12
$959.31
$958.50
$957.69
$956.87
$956.05
$955.22
$954.39
$953.55
$952.71
$951.86
$951.01
$950.15
$949.29
$948.42
$947.55
$946.67
$945.79
$944.90
$944.01
$943.11
$942.21
$941.30
$940.39
$939.47
$938.54
$937.61
$936.68
$935.74
$934.79
$933.84
$932.88
$931.92
$930.95
$929.98
$929.00

Principal
$135.45
$136.24
$137.03
$137.83
$138.64
$139.45
$140.26
$141.08
$141.90
$142.73
$143.56
$144.40
$145.24
$146.09
$146.94
$147.80
$148.66
$149.53
$150.40
$151.28
$152.16
$153.05
$153.94
$154.84
$155.74
$156.65
$157.56
$158.48
$159.41
$160.34
$161.27
$162.21
$163.16
$164.11
$165.07
$166.03
$167.00
$167.97
$168.95

$165,000.00
Remaining Balance
$164,864.55
$164,728.31
$164,591.28
$164,453.44
$164,314.80
$164,175.36
$164,035.10
$163,894.02
$163,752.11
$163,609.39
$163,465.82
$163,321.42
$163,176.18
$163,030.09
$162,883.15
$162,735.35
$162,586.69
$162,437.17
$162,286.77
$162,135.49
$161,983.33
$161,830.28
$161,676.34
$161,521.50
$161,365.76
$161,209.11
$161,051.55
$160,893.07
$160,733.66
$160,573.32
$160,412.05
$160,249.84
$160,086.68
$159,922.57
$159,757.50
$159,591.47
$159,424.47
$159,256.49
$159,087.54

40
41
42
43
44
45
46
47
48
49
50
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

$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$1,097.95
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37

$928.01
$927.02
$926.02
$925.02
$924.01
$923.00
$921.98
$920.95
$919.92
$912.25
$904.54
$896.78
$888.98
$881.13
$873.23
$865.29
$857.31
$849.28
$841.20
$833.07
$824.89
$816.67
$808.40
$800.08
$791.72
$783.30
$774.84
$766.32
$757.76
$749.15
$740.48
$731.77
$723.00
$714.19
$705.32
$696.40
$687.43
$678.40
$669.33
$660.20
$651.02
$641.78
$632.49

$169.94
$170.93
$171.93
$172.93
$173.94
$174.95
$175.97
$177.00
$1,314.45
$1,322.12
$1,329.83
$1,337.59
$1,345.39
$1,353.24
$1,361.14
$1,369.08
$1,377.06
$1,385.09
$1,393.17
$1,401.30
$1,409.48
$1,417.70
$1,425.97
$1,434.29
$1,442.65
$1,451.07
$1,459.53
$1,468.05
$1,476.61
$1,485.22
$1,493.89
$1,502.60
$1,511.37
$1,520.18
$1,529.05
$1,537.97
$1,546.94
$1,555.97
$1,565.04
$1,574.17
$1,583.35
$1,592.59
$1,601.88

$158,917.60
$158,746.67
$158,574.74
$158,401.81
$158,227.87
$158,052.92
$157,876.94
$157,699.94
$156,385.49
$155,063.37
$153,733.53
$152,395.94
$151,050.55
$149,697.31
$148,336.17
$146,967.10
$145,590.03
$144,204.94
$142,811.76
$141,410.46
$140,000.99
$138,583.29
$137,157.32
$135,723.04
$134,280.38
$132,829.32
$131,369.78
$129,901.74
$128,425.13
$126,939.91
$125,446.02
$123,943.42
$122,432.05
$120,911.87
$119,382.82
$117,844.85
$116,297.90
$114,741.94
$113,176.90
$111,602.72
$110,019.37
$108,426.78
$106,824.90

83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125

$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37

$623.15
$613.75
$604.29
$594.78
$585.22
$575.60
$565.92
$556.19
$546.40
$536.56
$526.65
$516.69
$506.67
$496.59
$486.45
$476.26
$466.00
$455.69
$445.31
$434.88
$424.38
$413.82
$403.20
$392.52
$381.77
$370.97
$360.10
$349.16
$338.17
$327.11
$315.98
$304.79
$293.53
$282.21
$270.82
$259.37
$247.85
$236.26
$224.61
$212.88
$201.09
$189.23
$177.30

$1,611.22
$1,620.62
$1,630.08
$1,639.59
$1,649.15
$1,658.77
$1,668.45
$1,678.18
$1,687.97
$1,697.81
$1,707.72
$1,717.68
$1,727.70
$1,737.78
$1,747.92
$1,758.11
$1,768.37
$1,778.68
$1,789.06
$1,799.49
$1,809.99
$1,820.55
$1,831.17
$1,841.85
$1,852.60
$1,863.40
$1,874.27
$1,885.21
$1,896.20
$1,907.26
$1,918.39
$1,929.58
$1,940.84
$1,952.16
$1,963.55
$1,975.00
$1,986.52
$1,998.11
$2,009.76
$2,021.49
$2,033.28
$2,045.14
$2,057.07

$105,213.68
$103,593.05
$101,962.97
$100,323.39
$98,674.24
$97,015.47
$95,347.02
$93,668.84
$91,980.87
$90,283.06
$88,575.34
$86,857.66
$85,129.96
$83,392.18
$81,644.27
$79,886.15
$78,117.79
$76,339.10
$74,550.04
$72,750.55
$70,940.56
$69,120.01
$67,288.84
$65,446.99
$63,594.39
$61,730.99
$59,856.72
$57,971.51
$56,075.31
$54,168.04
$52,249.65
$50,320.07
$48,379.24
$46,427.08
$44,463.53
$42,488.53
$40,502.01
$38,503.91
$36,494.14
$34,472.65
$32,439.37
$30,394.23
$28,337.16

126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
11.6
Years

$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37
$2,234.37

$165.30
$153.23
$141.09
$128.88
$116.60
$104.24
$91.82
$79.32
$66.75
$54.10
$41.39
$28.59
$15.73
$2.78

$2,069.07
$2,081.14
$2,093.28
$2,105.49
$2,117.77
$2,130.13
$2,142.55
$2,155.05
$2,167.62
$2,180.27
$2,192.98
$2,205.78
$2,218.64
$2,231.59

$26,268.09
$24,186.95
$22,093.67
$19,988.18
$17,870.41
$15,740.29
$13,597.73
$11,442.68
$9,275.06
$7,094.80
$4,901.81
$2,696.04
$477.40
($1,754.19)

Names:

222
18.5

Benjamin, Dezmon,
Andrew, Trevin

$3,783.08

2696.27

No Debt left. Money goes into an investment at 10.0%

Debt
Credit Card #3
Credit Card #1
Credit Card #2
Furniture Loan
Home Equity Loan
Car Loan
Mortgage
Total Debt

Rate
12.0%
12.0%
18.0%
10.0%
11.0%
9.0%
7.0%

Principal
$840.00
$1,500.00
$3,500.00
$5,500.00
$9,000.00
$22,500.00
$165,000.00
$207,840.00

# of Pmts
12
24
36
48
84
60
360

$ / mth
$74.63
$70.61
$126.53
$139.49
$154.10
$467.06
$1,097.75

Real Debt
$895.56
$1,694.64
$4,555.08
$6,695.52
$12,944.40
$28,023.60
$395,190.00

$2,130.17

$449,998.80

More interest
than payment

Totals

After 137 mths payment of $2,234.87 goes into an investment until month 360.

Month
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176

Payment
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87

10.0%
Interest
$0.00
$18.62
$37.40
$56.34
$75.43
$94.68
$114.10
$133.67
$153.41
$173.31
$193.38
$213.62
$234.02
$254.59
$275.34
$296.26
$317.35
$338.62
$360.07
$381.69
$403.49
$425.48
$447.65
$470.00
$492.55
$515.27
$538.19
$561.30
$584.60
$608.10
$631.79
$655.68
$679.77
$704.05
$728.55
$753.24
$778.14
$803.25
$828.57

Ttl Investment
$2,234.87
$2,253.49
$2,272.27
$2,291.21
$2,310.30
$2,329.55
$2,348.97
$2,368.54
$2,388.28
$2,408.18
$2,428.25
$2,448.49
$2,468.89
$2,489.46
$2,510.21
$2,531.13
$2,552.22
$2,573.49
$2,594.94
$2,616.56
$2,638.36
$2,660.35
$2,682.52
$2,704.87
$2,727.42
$2,750.14
$2,773.06
$2,796.17
$2,819.47
$2,842.97
$2,866.66
$2,890.55
$2,914.64
$2,938.92
$2,963.42
$2,988.11
$3,013.01
$3,038.12
$3,063.44

$0.00
Ending Balance
$2,234.87
$4,488.36
$6,760.64
$9,051.85
$11,362.15
$13,691.70
$16,040.67
$18,409.21
$20,797.49
$23,205.67
$25,633.93
$28,082.41
$30,551.30
$33,040.77
$35,550.98
$38,082.10
$40,634.32
$43,207.81
$45,802.75
$48,419.31
$51,057.67
$53,718.02
$56,400.54
$59,105.42
$61,832.83
$64,582.98
$67,356.04
$70,152.21
$72,971.68
$75,814.65
$78,681.31
$81,571.85
$84,486.49
$87,425.41
$90,388.83
$93,376.94
$96,389.95
$99,428.07
$102,491.51

177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219

$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87

$854.10
$879.84
$905.79
$931.97
$958.36
$984.97
$1,011.80
$1,038.85
$1,066.13
$1,093.64
$1,121.38
$1,149.35
$1,177.55
$1,205.99
$1,234.66
$1,263.57
$1,292.73
$1,322.12
$1,351.77
$1,381.66
$1,411.79
$1,442.18
$1,472.82
$1,503.72
$1,534.88
$1,566.29
$1,597.97
$1,629.91
$1,662.11
$1,694.59
$1,727.33
$1,760.35
$1,793.65
$1,827.22
$1,861.07
$1,895.20
$1,929.62
$1,964.32
$1,999.32
$2,034.60
$2,070.18
$2,106.05
$2,142.23

$3,088.97
$3,114.71
$3,140.66
$3,166.84
$3,193.23
$3,219.84
$3,246.67
$3,273.72
$3,301.00
$3,328.51
$3,356.25
$3,384.22
$3,412.42
$3,440.86
$3,469.53
$3,498.44
$3,527.60
$3,556.99
$3,586.64
$3,616.53
$3,646.66
$3,677.05
$3,707.69
$3,738.59
$3,769.75
$3,801.16
$3,832.84
$3,864.78
$3,896.98
$3,929.46
$3,962.20
$3,995.22
$4,028.52
$4,062.09
$4,095.94
$4,130.07
$4,164.49
$4,199.19
$4,234.19
$4,269.47
$4,305.05
$4,340.92
$4,377.10

$105,580.47
$108,695.18
$111,835.84
$115,002.68
$118,195.90
$121,415.74
$124,662.41
$127,936.13
$131,237.14
$134,565.65
$137,921.90
$141,306.12
$144,718.54
$148,159.40
$151,628.93
$155,127.37
$158,654.97
$162,211.97
$165,798.60
$169,415.13
$173,061.79
$176,738.84
$180,446.53
$184,185.13
$187,954.87
$191,756.03
$195,588.87
$199,453.65
$203,350.63
$207,280.09
$211,242.29
$215,237.52
$219,266.03
$223,328.12
$227,424.06
$231,554.13
$235,718.61
$239,917.81
$244,151.99
$248,421.46
$252,726.51
$257,067.43
$261,444.53

220
221
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223
224
225
226
227
228
229
230
231
232
233
234
235
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243
244
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246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262

$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87

$2,178.70
$2,215.48
$2,252.57
$2,289.97
$2,327.67
$2,365.69
$2,404.03
$2,442.69
$2,481.67
$2,520.97
$2,560.61
$2,600.57
$2,640.86
$2,681.49
$2,722.46
$2,763.78
$2,805.43
$2,847.43
$2,889.79
$2,932.49
$2,975.55
$3,018.97
$3,062.75
$3,106.90
$3,151.42
$3,196.30
$3,241.56
$3,287.20
$3,333.22
$3,379.62
$3,426.40
$3,473.58
$3,521.15
$3,569.12
$3,617.49
$3,666.25
$3,715.43
$3,765.02
$3,815.02
$3,865.43
$3,916.27
$3,967.53
$4,019.21

$4,413.57
$4,450.35
$4,487.44
$4,524.84
$4,562.54
$4,600.56
$4,638.90
$4,677.56
$4,716.54
$4,755.84
$4,795.48
$4,835.44
$4,875.73
$4,916.36
$4,957.33
$4,998.65
$5,040.30
$5,082.30
$5,124.66
$5,167.36
$5,210.42
$5,253.84
$5,297.62
$5,341.77
$5,386.29
$5,431.17
$5,476.43
$5,522.07
$5,568.09
$5,614.49
$5,661.27
$5,708.45
$5,756.02
$5,803.99
$5,852.36
$5,901.12
$5,950.30
$5,999.89
$6,049.89
$6,100.30
$6,151.14
$6,202.40
$6,254.08

$265,858.11
$270,308.46
$274,795.90
$279,320.74
$283,883.28
$288,483.84
$293,122.75
$297,800.31
$302,516.85
$307,272.69
$312,068.16
$316,903.60
$321,779.34
$326,695.70
$331,653.03
$336,651.68
$341,691.98
$346,774.28
$351,898.94
$357,066.30
$362,276.72
$367,530.57
$372,828.19
$378,169.96
$383,556.25
$388,987.42
$394,463.85
$399,985.92
$405,554.01
$411,168.49
$416,829.77
$422,538.22
$428,294.24
$434,098.23
$439,950.59
$445,851.71
$451,802.01
$457,801.90
$463,851.78
$469,952.09
$476,103.22
$482,305.62
$488,559.70

263
264
265
266
267
268
269
270
271
272
273
274
275
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278
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281
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286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304
305

$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87

$4,071.33
$4,123.88
$4,176.87
$4,230.30
$4,284.18
$4,338.51
$4,393.28
$4,448.52
$4,504.21
$4,560.37
$4,617.00
$4,674.10
$4,731.67
$4,789.73
$4,848.27
$4,907.29
$4,966.81
$5,026.82
$5,087.34
$5,148.36
$5,209.88
$5,271.92
$5,334.48
$5,397.56
$5,461.16
$5,525.29
$5,589.96
$5,655.17
$5,720.92
$5,787.22
$5,854.07
$5,921.48
$5,989.45
$6,057.98
$6,127.09
$6,196.77
$6,267.04
$6,337.88
$6,409.32
$6,481.36
$6,553.99
$6,627.24
$6,701.09

$6,306.20
$6,358.75
$6,411.74
$6,465.17
$6,519.05
$6,573.38
$6,628.15
$6,683.39
$6,739.08
$6,795.24
$6,851.87
$6,908.97
$6,966.54
$7,024.60
$7,083.14
$7,142.16
$7,201.68
$7,261.69
$7,322.21
$7,383.23
$7,444.75
$7,506.79
$7,569.35
$7,632.43
$7,696.03
$7,760.16
$7,824.83
$7,890.04
$7,955.79
$8,022.09
$8,088.94
$8,156.35
$8,224.32
$8,292.85
$8,361.96
$8,431.64
$8,501.91
$8,572.75
$8,644.19
$8,716.23
$8,788.86
$8,862.11
$8,935.96

$494,865.90
$501,224.66
$507,636.40
$514,101.57
$520,620.62
$527,194.00
$533,822.15
$540,505.54
$547,244.62
$554,039.86
$560,891.73
$567,800.70
$574,767.24
$581,791.84
$588,874.97
$596,017.14
$603,218.82
$610,480.51
$617,802.72
$625,185.94
$632,630.69
$640,137.49
$647,706.84
$655,339.26
$663,035.29
$670,795.46
$678,620.29
$686,510.33
$694,466.12
$702,488.21
$710,577.14
$718,733.49
$726,957.81
$735,250.66
$743,612.62
$752,044.26
$760,546.16
$769,118.92
$777,763.11
$786,479.34
$795,268.21
$804,130.31
$813,066.27

306
307
308
309
310
311
312
313
314
315
316
317
318
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320
321
322
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333
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342
343
344
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347
348

$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87

$6,775.55
$6,850.64
$6,926.35
$7,002.70
$7,079.67
$7,157.30
$7,235.56
$7,314.48
$7,394.06
$7,474.30
$7,555.21
$7,636.80
$7,719.06
$7,802.01
$7,885.65
$7,969.99
$8,055.03
$8,140.78
$8,227.24
$8,314.43
$8,402.34
$8,490.98
$8,580.36
$8,670.49
$8,761.37
$8,853.00
$8,945.40
$9,038.57
$9,132.52
$9,227.24
$9,322.76
$9,419.08
$9,516.19
$9,614.12
$9,712.86
$9,812.42
$9,912.82
$10,014.05
$10,116.12
$10,219.05
$10,322.83
$10,427.48
$10,533.00

$9,010.42
$9,085.51
$9,161.22
$9,237.57
$9,314.54
$9,392.17
$9,470.43
$9,549.35
$9,628.93
$9,709.17
$9,790.08
$9,871.67
$9,953.93
$10,036.88
$10,120.52
$10,204.86
$10,289.90
$10,375.65
$10,462.11
$10,549.30
$10,637.21
$10,725.85
$10,815.23
$10,905.36
$10,996.24
$11,087.87
$11,180.27
$11,273.44
$11,367.39
$11,462.11
$11,557.63
$11,653.95
$11,751.06
$11,848.99
$11,947.73
$12,047.29
$12,147.69
$12,248.92
$12,350.99
$12,453.92
$12,557.70
$12,662.35
$12,767.87

$822,076.69
$831,162.20
$840,323.42
$849,560.99
$858,875.53
$868,267.70
$877,738.13
$887,287.49
$896,916.42
$906,625.59
$916,415.68
$926,287.34
$936,241.27
$946,278.15
$956,398.68
$966,603.53
$976,893.43
$987,269.08
$997,731.20
$1,008,280.49
$1,018,917.70
$1,029,643.55
$1,040,458.78
$1,051,364.14
$1,062,360.38
$1,073,448.25
$1,084,628.53
$1,095,901.97
$1,107,269.35
$1,118,731.47
$1,130,289.10
$1,141,943.05
$1,153,694.11
$1,165,543.10
$1,177,490.82
$1,189,538.12
$1,201,685.81
$1,213,934.72
$1,226,285.72
$1,238,739.63
$1,251,297.33
$1,263,959.68
$1,276,727.55

349
350
351
352
353
354
355
356
357
358
359
360

$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87
$2,234.87

$10,639.40
$10,746.68
$10,854.86
$10,963.94
$11,073.93
$11,184.84
$11,296.67
$11,409.43
$11,523.14
$11,637.79
$11,753.39
$11,869.96

$498,376.01 $940,124.01

$12,874.27
$12,981.55
$13,089.73
$13,198.81
$13,308.80
$13,419.71
$13,531.54
$13,644.30
$13,758.01
$13,872.66
$13,988.26
$14,104.83

$1,289,601.82
$1,302,583.37
$1,315,673.10
$1,328,871.91
$1,342,180.71
$1,355,600.42
$1,369,131.96
$1,382,776.27
$1,396,534.27
$1,410,406.93
$1,424,395.19
$1,438,500.02

$1,438,500.02

ment until month 360.

Names:

Benjamin, Dezmon,
Andrew, Trevin