The van dusens have a combined net annual income of $65,000. They have savings of $37,000. Non related housing expenses are $1850 a month. Option 1: Renting a 2 bedroom apartment for $1800 a month including all utlities. Option 2: Buying a  bedroom townhouse with a dawn payment of $24,000, bi weekly mortgage

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter9: Obtaining Affordable Housing
Section: Chapter Questions
Problem 1DTM
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The van dusens have a combined net annual income of $65,000. They have savings of $37,000. Non related housing expenses are $1850 a month.

Option 1: Renting a 2 bedroom apartment for $1800 a month including all utlities.

Option 2: Buying a  bedroom townhouse with a dawn payment of $24,000, bi weekly mortgage payments of $800, annual property taxes of $2100, and a average of $175 a month for utilities.

For each option determine how much money the Van Dusens will have available each month for savings

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