A) All parts will require you to use the Google spreadsheets you created to answer, just update it with the information.

Consider the student loan information here: balance of $42,350 with proposed payment of $413, and an interest rate of 6.49% annual interest compounded monthly.

1. Using the proposed payment, determine how much the final payment will be when the loan is balanced. The loan is balanced when the remaining balance is $0.

2. Using the proposed payment, determine the remaining balance after 3 years.

3. Using the proposed payment, determine the total amount of interest paid over the entire loan.

4. Instead of the proposed payment, suppose someone increased the payment by $50 per month for the entire loan, how much interest would this save?

B)Consider investing over time, so as your salary goes up, you invest more each month. For 10 years straight, you invest $100 per month, then you invest $300 per month for 10 years, and end with $500 per month for 10 years. Over the full 30 years, you earn 4.8% annual interest compounded monthly.

1. Determine the balance at the end of the 30 years.

2. Determine the amount of money you invested total.

3. Find the amount of interest earned over the 30 years.

C) Alejandro knows that he needs $32,100 per year to live comfortably now. He plans to retire in about 39 years and plans to be retired for about 23 yearsafter that. Determine...

1. how much he needseach yearto maintain his current standard of living when he retires

39 years from now assuming 3% inflation.

2. how much he needs to have in his retirement account to be paid out the annual amount

from (a) each year for 23 years if the account earns 5% annual interest compounded annually

andpayments adjust annually for inflation-so he can maintain his standard of living.

3. how much he needs to invest each month at 6% annual interest compounded monthly

over the next 39 years in order to have the amount in (b).

4. how much interest he earned over the course of the 62 years.

5. Alejandrosees that he can'tafford to make the payments you found in part (c); describe

at least 2 things Alejandro could do in order to still be able to afford to retire?

D) Gordon Ramsay's butleris filling out his taxes for 2019. The family had total income of $142,700 and will file as Married Filing Jointly with a baby girl. They will take the standard deduction and use the $2,000 child tax credit as well. The total amount withheld for federal taxes was $18,563.

1)How much is the total tax bill for the butler's family?

2) Explain if they will owe tax or get a refund and determine how much.

3)Using no computations:Since the butler'swife earned no income in 2019, would this be a case of marriage penalty or marriage bonus? Explain.

E) When dealing withsimple interestaccounts, determine the missing piece:

1. Find the annual simple interest rate for a loan of 95 days requiring $73 interest on principal of

$820.

2. Find the principal needed to earn $140 in interest on 7% monthly simple interest over 4 years.

3. Determine the finance charge for the credit card based on the following information: ADB is $7,100 at 13.99% annual simple interest over July.

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