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Text Box: Lindenhurst HS

You get to pick the career of your choice.  Anything you can dream that you can be. 

1   Find the annual salary for that particular job.

2   What is the amount of a bi-weekly paycheck?

3   What deductions are being made?

4   What are the deductions for?


Now you can buy a house.  Find a house for sale in the $300,000—$550,000 range.

5   Get a picture of the house and list the features.

6   Calculate the down payment of 20%

7   Determine the interest rate on a 30 year fixed mortgage  and the monthly payment. 

Don’t forget that your monthly payment should include property taxes and insurance.  If you can’t find the taxes assume they are 1.75% of the selling price and we’ll use $1500 a year for insurance.


8 Now, can you really afford this house, if your mortgage should be approximately 25% of your monthly income? 

9 If your housing expenses are more than 25%, what can you do to afford this house?