10. Assume you have started working and here are the details of your income and expenses: (15 points)

• Monthly Salary: $6200
• Federal tax: $700 per month
• California state tax: $200 per month
• Rent: $2000 per month
• Food: $900 per month
• Car payment: $600 per month
• Car Insurance: $125 per month
• Phone: $125 per month
• Electric+Gas+Cabel/Netflix: $100
• Clothes: $200 per month
• Personal care / gym: $250
• Travel: $300 per month
• Gas: $200 How much money can you save every month? Use the savings calculator https://www.calculator.net/savings-calculator.html and answer the following questions:
• Assume you invest your entire saving in the market and your starting balance is $1, annual contribution is $1, for 40 year, increase is 3%, monthly contribution ????? (from above), for 480 months, increase 3% per year, end of period, interest rate 3%, compound monthly, after 40 years, tax rate 0%, inflation 3%. What is the value of your savings?
• Assume you invest your entire saving in the market and your starting balance is $1, annual contribution is $1, for 40 year, increase is 3%, monthly contribution ????? (from above), for 480 months, increase 5% per year, end of period, interest rate 9%, compound monthly, after 40 years, tax rate 0%, inflation 3%. What is the value of your savings?