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Econ project charleston

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  • 1. Seager Period 1 By: Max Yang and David Han
  • 2. Max David Occupation: Software Engineer Initial Income: $55,000 Post-Tax: $38,050 FICA: $3,850 Total: $34,200 Occupation: Dental Assistant Initial Income: $40,000 Post-Tax: $26,467 FICA: $2,800 Total: $23,667
  • 3. Max David •$3,420.00 •Chase Plus Saving- .05% APY $2,052.00 •Chase Plus Checking- .01% APY $1,368.00 •$2,366.70 •Chase Plus Saving- .05% APY $1,420.02 •Chase Plus Checking- .01% APY $946.68
  • 4. Max David $34,200 - $3420 (savings)= $30,780 $23,667 - $2,366.70 (savings)= $21,300.3
  • 5. G35 Coupe  $17,500  MPG: 16-City, 23 Highway, 19-Combined  Tank Size- 20 gallons  Car Insurance- GEICO, $1,846.80 annually, $153.9 on a monthly basis  Price of gallon- $3.44 per gallon (avg.)  Roughly estimated 11 gallon usage= $37.84 a week= $1,967.68 a year for gas per person.
  • 6. Car(1+tax rate)+Insurance+Gas= (17500)(1.07)+(1846.80)+(1967.68)= $22,539.48 ($22,539.48)/(Max+David)= $11,269.74 each Max David $30,780- $11,269.74= $19,510.26 $21,300.30- $11,269.74= $10,030.56
  • 7. Max David •BlueShield- Personal BluePlan 2 •$1,512 Annually •$126 per month per person •Low Deductible Health Plan •60% Coinsurance •Individual Coverage •BlueShield- Personal BluePlan 2 •$1,512 Annually •$126 per month per person •Low Deductible Health Plan •60% Coinsurance •Individual Coverage
  • 8. Max David $19,510.26- $1,512= $17,998.26 $10,030.56- $1,512= $8,518.56
  • 9. Renting Berkshires At Ashley River 1850 Ashley Crossing Lane Charleston, SC 29414 House Information  Size: 1040 square-feet  Single Family Home  2 Bedrooms  2 Bathrooms
  • 10. Housing Costs:  Rent Term: 12 Months  Deposit: $125  Living Cost: $816 per month or $9,792 per year  Renter’s Insurance Cost: $19 per month or $228 per year
  • 11. Max David $17,998.26- $5,010= $12,998.26 $8,518.56- $5,010= $3,508.56 (House Rent)+(Rent Insurance)= ($9,792)+ ($228)= $10,020 per year ($10,020)/(Max+David)= $5,010 each
  • 12. Shared Costs:  Electricity: $1,860  Water: $240  Gas: $2,640  Phone + Internet: $1,980  Sewer: $396
  • 13. Max David $12,998.26- $7116= $5,882.26 $3,508.56
  • 14. Food- $80 per week or $4160 per year
  • 15. Max David (split money) ($5,882.26+ $3,508.56)/2= $4,695.41 $4,695.41- $4160= $535.41 (split money) ($5,882.26+ $3,508.56)/2= $4,695.41 $4,695.41- $4160= $535.41
  • 16. Max David Clothing: $400 Movies: $80 Other: $20 Clothing: $460 Other: $40
  • 17.  "Berkshires at Ashley River in Charleston, SC." Apartments for Rent & Homes for Rent - Rent.com® Apartment Finder. Ebay. Web. 08 June 2011. <http://www.rent.com/rentals/south-carolina/charleston-and- vicinity/charleston/berkshires-at-ashley-river/479865/2/>.  "BlueQuote for Shoppers." MBM/BlueQuote Test Page. BlueShield. Web. 08 June 2011. <https://enrollment.bcbssc.com/enroll/im/aar_im_index.jsp>.  "Cars For Sale: Car Details - AutoTrader.com." New Cars, Used Cars - Find Cars at AutoTrader.com. AutoTrader. Web. 08 June 2011. <http://www.autotrader.com/fyc/vdp.jsp?ct=p>.  "GEICO | Recall an Auto Insurance Quote ~." Welcome to GEICO: Online Rate Quote. GEICO. Web. 08 June 2011. <https://sales2.geico.com/internetsales/iSnapCoverages.xhtml?_gk=_c36F90444-CE14-33AB-BBE7- 8254455B56B6_k302DBBE9-E3A2-678D-453A-EF2C15A110D6>.  "Online Banking | Bank Online with Complete Confidence." CHASE Home: Personal Banking | Personal Lending | Retirement & Investing | Business Banking. CHASE Banking. Web. 08 June 2011. <https://www.chase.com/index.jsp?pg_name=ccpmapp/individuals/savings/page/chase_savings>.  "Rate Sheet for Consumer Deposit Accounts." ChaseOnline. CHASE Banking. Web. 8 June 2011. <https://chaseonline.chase.com/resources/RateSheetForCons0011682011.pdf>.  "Renters' Insurance Cost." Affordable Home Insurance. Affordable. Web. 08 June 2011. <http://www.affordablehomeinsurance.org/?bid=3709>.  "South Carolina Gas Prices - Find Cheap Gas Prices in South Carolina." South Carolina Gas Prices - Find Cheap Gas Prices in South Carolina. South Carolina Gas Prices. Web. 08 June 2011. <http://www.southcarolinagasprices.com/GasPriceSearch.aspx>.  "South Carolina SC - Fast Facts." SCIWAY - South Carolina's Information Highway - SC. Sciway. Web. 08 June 2011. <http://www.sciway.net/facts/>.  "South Carolina (SC) Income Tax Rates and Tax Brackets 2010/2011." 2011 State Tax Rates & Exemptions. U.S. Government, 2011. Web. 08 June 2011. <http://www.tax-rates.org/South_Carolina/income-tax/>.  "Utility Bills... (Charleston: Appliances, House, Utilities) - Charleston - North Charleston - Mt. Pleasant - Summerville - Goose Creek - City-Data Forum." Stats about All US Cities - Real Estate, Relocation Info, House Prices, Home Value Estimator, Recent Sales, Cost of Living, Crime, Race, Income, Photos, Education, Maps, Weather, Houses, Schools, Neighborhoods, and More. City Data, 2005. Web. 08 June 2011. <http://www.city- data.com/forum/charleston-area/283405-utility-bills.html>.
  • 18. Housing http://www.rent.com/rentals/south-carolina/charleston-and-vicinity/charleston/berkshires-at-ashley-river/479865/2/ http://www.affordablehomeinsurance.org/?bid=3709&zid=2823 Tax http://www.tax-rates.org/South_Carolina/income-tax/ http://www.irs.gov/pub/irs-pdf/f1040ez.pdf http://www.sctax.org/NR/rdonlyres/ACD264C6-3FD5-4AD1-A6AA-240F41E3E1EE/0/st439_61705.pdf http://www.sciway.net/facts/ Transportation http://www.autotrader.com/fyc/vdp.jsp?ct=p&car_id=297485499&dealer_id=66181119&car_year=2005&position=top&m ake_desc=Infiniti&distance=100&address=29401&origuri=%2Ffind%2Fused-Infiniti-G35-cars-for-sale-Charleston- 29401.jsp&sort_type=priceASC&keywordsfyc=&search_type=used&model_desc=G35&cardist=83&standard=false http://www.southcarolinagasprices.com/GasPriceSearch.aspx Car Insurance https://sales2.geico.com/internetsales/iSnapCoverages.xhtml?_gk=_c36F90444-CE14-33AB-BBE7- 8254455B56B6_k302DBBE9-E3A2-678D-453A-EF2C15A110D6 Health Insurance https://enrollment.bcbssc.com/enroll/im/aar_im_index.jsp Saving https://chaseonline.chase.com/resources/RateSheetForCons0011682011.pdf https://www.chase.com/index.jsp?pg_name=ccpmapp/individuals/savings/page/chase_savings Utilities http://www.city-data.com/forum/charleston-area/283405-utility-bills.html