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answer both pls PLE Patrick wants to save for college for his daughter Olivia who just turned age 5. He expects she will need $60,000
answer both pls
PLE Patrick wants to save for college for his daughter Olivia who just turned age 5. He expects she will need $60,000 by the time she starts school in August after she turns 18. Patrick opens up a 529 plan at Charles Schwab and expects to earn 7.5%. He will put money in each month beginning with February How much does Patrick need to invest each month to achieve the goal of $60,000 by the end of August when Olivia is 18? (Answer with a positive number, round to the nearest dollar) Jasmine works at Sonic and takes home an average of $1.290 per month in tips and pay. She wants to buy a new-to-her, used car from CarMax. She is eyeing a 2015 Jeep Wrangler because it matches her best shoes. Bright, yellow, and lifted high!! Jasmine wants to keep her debt to income ratio below 25%. Can she afford the Jeep based on the offer below? Why? (Pick the best answer) Price (including taxes and fees) - $26,780 Down Payment - $2,000 Interest Rate - 4.75% 5 year(60 Months) max term No, because the lowest payment would create a debt to income ratio of 36% No, because the lowest payment would create a debt to income ratio of 32% Yes, because the lowest payment would create a debt to income ratio of 23% No, because the lowest payment would create a debt to income ratio of 39% Step by Step Solution
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