3.1)Given her current situation, identify the main financial planning issues (list 2) Jaida faces in reaching her short term and long term goals. 3.2)George borrows $2,500 to buy a stereo, and agrees to repay the loan in 2 years at 7.75% pa simple interest. What is the payment he must make at the end of 2 years to pay off his debt? 3.3)What if the loan is compound interest, how much must he pay back? 3.4)What is the fortnightly repayment on a $300,000 home loan for the next thirty years assuming the interest rate is 7% pa compounded fortnightly? 3.5) If you plan to retire in 20 years from today, and wish to have $2,500,000 in your bank account when you retire. How much do you need to save every month given interest rate at the moment is around 3.0%pa?

3 Mail 21:49 chegg.com Jaida Baulk (age 23) is currently in her final year at Deakin University undertaking a Bachelor of Management. Jaida currently lives with her parents but would like to be able to move out in the future into her own place. Jaida currently has a part time job working for a local company. She recently purchased a car that cost $18,000 and took out a loan for it. As a result she does not have much savings left in her bank account. She currently has a $35,000 student loan (6.8% interest) and she also owes $2,000 on her credit card (interest 21%). Jaida must also pay rent of $400 a month to her parents. Jaida has decided she really needs to start organising her own financial files as she has realised that her present system of throwing everything into a box is not working and she sometimes forgets things like depositing her savings into her bank account Jaida's current financial statistics are shown below: Liabilities Assets: Cash at Bank $1,500 Student loan S35,000 Car $18,000 Credit card $2,000 Monthly Income: Monthly Expenses: Wages $1,800 Entertainment $200 Rent $200, Mobile Phone S100 Student loan S400 Credit card S100 Petrol S100, Food S200 Clothes $200 Jaida would like to be able to move out of her parent's home in two years' time. In order to do this she has set herself the goal of saving $24,000. She believes that she should be able to save at least $1,000 a month but so far she has only managed to save $500 in the last 2 months. Jaida does not understand how this is happening and believes her monthly expenses are only S800 (credit card, student loan, rent and mobile) 47%, D