But a big chunk of their after - tax income is eaten up by their mortgage, the $ 3,900 in
annual payments on their car loan, and a staggering daycare bill of $ 22,700.
Not exact matches
Example: What would the monthly
payment be
on a 5 - year, $ 20,000
car loan with a nominal 7.5 %
annual interest rate?
That would normally be plenty for him to live
on comfortably but with debt
payments of $ 3,444 annually
on his $ 100,000 line of credit (just the interest portion) coupled with an
annual payment of $ 3,876
on his
car loan until 2015, he doesn't see much wiggle room in his budget.
The typical bank loan process involves a complex application form that request a significant amount of information about your monthly or
annual expenses — what you spend
on food, utilities, credit cards,
car payments — and asks for credit references as well.
Other Notable Features: Possible credit limit increase after 5 months of
on on - time
payments, security and account alerts, personalized due date, Spotify discount, compatible with Apple Pay, no foreign transaction fees, travel accident insurance, roadside assistance, price protection, travel assistance,
car rental insurance, extended warranty,
annual account summary
Another method is to add up the total bills, such as credit cards, mortgages,
car payments, loans and funeral costs, while also estimating and anticipating future bills (the need for a new
car, tuition for your children, inflation etc.) If the goal is to simply replace an income, as might be the case when both spouses are professionals, the estimate should be based
on the
annual income multiplied by the number of years of income that you want the life insurance to cover.
These include but are not limited to: installing an alarm system, paying off your premium upfront with one
annual payment, insuring your
car and home
on the same policy, equipping you
car with airbags, maintaining A or B average at school, and taking a defensive drivers course.