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Personal Finance Managing Money. Exercise 8.2A On page 56 of Exercise 8.2A, change the variable amounts of John and Marshas budget to save $225. In the.

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Presentation on theme: "Personal Finance Managing Money. Exercise 8.2A On page 56 of Exercise 8.2A, change the variable amounts of John and Marshas budget to save $225. In the."— Presentation transcript:

1 Personal Finance Managing Money

2 Exercise 8.2A On page 56 of Exercise 8.2A, change the variable amounts of John and Marshas budget to save $225. In the after column write in the revised variable amounts. Use your judgment to decide which amounts they can reduce. The total in the after column must add up to $5,200 Answer questions a-e on page 56

3 Exercise 8.2B On page 58 of Exercise 8.2B, change the variable amount of John and Marshas new budget to save $100. In the after column write in the revised variable amounts. Use your judgment to decide which amounts they can reduce. The total in the after column must add up to $2,095. Answer questions a and c.

4 Exercise 8.3 On page 60 of Exercise 8.3, use the table to determine the monthly house payment for a loan of $140,000 at 6% interest. Write this amount on page 59 in the New Information paragraph. Add $210 to the monthly house payment for insurance and real estate taxes. Write this amount on page 59 in the 4 th paragraph.

5 Exercise 8.3 On page 58 of Exercise 8.3, change the variable amounts of John and Marshas new homeowners budget to save $35. In the Homeowners column write in the revised variable amounts. Use your judgment to decide which amount they can reduce. The total of the Homeowners column must add up to $2,160.

6 Exercise 8.3 Calculate the Rule of Thumb amounts of 28% and 36% of gross monthly income to determine if John and Marsha can afford the mortgage payment. Answer all the questions on page 60 of Exercise 8.3

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