Post College Personal Finance Assignment
Due: October 3
The assignment must be submitted via the Angel drop box for the given assignment by 11:55p.m. on the due date. This assignment will have two parts to be submitted Part 1 A-C and the Post College Budget Spreadsheet. Please submit these assignments in the following manner (Your last name and then the assignment description)
Example: Zink Post College Personal Finance Assignment Fall 2012
1. From the Job Offer Package Sample choices on Angel or your position choice from the Job Search / Cover Letter / Resumé assignment for this assignment select one of these positions, the starting salary and determine the geographic location for your new position. Once you have the starting salary and geographic location, you are ready to address the following questions.
Complete the following:
Determine the cost of living index for the desired job location. Is it more or less expensive compared to the Lansing area and what factors affect this? For links to help you with this, see the Angel website.
Use the web to locate a house in this location and discuss how you would finance it. Specifically, address the following questions: For links to help with this, see the Angel website.
How much of a down payment will you make? Why?
How many years will you be financing the property (e.g., 15, 20 or 30 years) and at what interest rate? Please use current interest rates to calculate payment.
What will your annual taxes be for this property? How did you determine this?
Next, use the web to locate an apartment in this location.
What is your monthly payment? What is your security deposit?
Will you have renter’s insurance? Why or why not? How much will renter’s insurance cost?
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