fully answer questions

all questions need answered so if theres 2 then both

SETTING FINANCIAL GOALS 2019 hy McGraw- Jamie Lee Jackson, age 24, has recently decided to switch from attending college part-time to full-time in order to pursue her business degree, and she aims to graduate within the next three years. She has 55 credit hours remaining in order to earn her bachelor's degree and knows that it will be a challenge to complete her course of study while still working part- time in the bakery department of a local grocery store, where she earns $390 a week. Jamie Lee wants to keep her part-time job at the grocery store as she loves baking and creates very decorative cakes. She dreams of opening her own cupcake caf within the next five years. Jamie Lee currently shares a small apartment with a friend, and they split all of the associ- ated living expenses, such as rent and utilities, although she would really like to eventually have a place of her own. Her car is still going strong, even though it is seven years old, and she has no plans to buy a new one any time soon. She is carrying a balance on her credit card and is making regular monthly payments of $50 with hopes of paying it off within a year. Jamie has also recently taken out a student loan to cover her educational costs and expenses. Jamie Lee just started depositing S1.800 a year in a savings account that earns 2 percent interest in hopes of having the $9.000 down payment needed to start the cupcake caf two years after graduation Current Financial Situation Checking account: $1,250 Emergency fund savings account: $3.100 Car: $4,000 Student loan: 55.400 Credit card balance: $400 Gross monthly salary: $2.125 Net monthly salary: $1,560 Questions 1. Using Your Personal Financial Plan sheet 2. what are Jamie Lee's short-term financial goals? How do they compare to her intermediate financial goals? 2. Assess Jamie Lee's current financial situation. Using the SMART approach, what rec- ommendations would you make for her to achieve her long-term goals? 3. Name two opportunity costs that would be considered in Jamie Lee's situation? 4. Jamie Lee needs to save a total of $9.000 in order to get started in her cupcake caf venture. She is presently depositing $1.800 a year in a regular savings account earning 2 percent interest. How much will she have accumulated five years from now in this regular savings account, assuming she will be leaving her emergency fund savings account balance untouched except for a rainy day? "I FIRST THOUGHT THIS PROCESS WOULD BE A WASTE OF TIME, BUT THE INFORMATION HAS HELPED ME BECOME MUCH MORE CAREFUL OF HOW I SPEND MY MONEY." Nearly everyone who has made the effort to keep a daily spending diary has found it bene- ficial. While at first the process may seem tedious, after a while recording this information becomes easier and faster. Directions Using the Daily Spending Diary sheets provided at the end of the book, record every cent of your spending each day in the categories provided. Or you may create your own format to monitor your spending. You can indicate the use of a credit card with (CR). This experience will help you better understand your spending patterns and identify desired changes you might want to make in your spending habits. The Daily Spending Diary sheets are located in Appendix D at the end of the book and in Connect Finance. Questions 1. What did your daily spending diary reveal about your spending habits? What areas of spending might you consider changing? 2. How might your daily spending diary assist you when identifying and achieving financial goals? SETTING FINANCIAL GOALS 2019 hy McGraw- Jamie Lee Jackson, age 24, has recently decided to switch from attending college part-time to full-time in order to pursue her business degree, and she aims to graduate within the next three years. She has 55 credit hours remaining in order to earn her bachelor's degree and knows that it will be a challenge to complete her course of study while still working part- time in the bakery department of a local grocery store, where she earns $390 a week. Jamie Lee wants to keep her part-time job at the grocery store as she loves baking and creates very decorative cakes. She dreams of opening her own cupcake caf within the next five years. Jamie Lee currently shares a small apartment with a friend, and they split all of the associ- ated living expenses, such as rent and utilities, although she would really like to eventually have a place of her own. Her car is still going strong, even though it is seven years old, and she has no plans to buy a new one any time soon. She is carrying a balance on her credit card and is making regular monthly payments of $50 with hopes of paying it off within a year. Jamie has also recently taken out a student loan to cover her educational costs and expenses. Jamie Lee just started depositing S1.800 a year in a savings account that earns 2 percent interest in hopes of having the $9.000 down payment needed to start the cupcake caf two years after graduation Current Financial Situation Checking account: $1,250 Emergency fund savings account: $3.100 Car: $4,000 Student loan: 55.400 Credit card balance: $400 Gross monthly salary: $2.125 Net monthly salary: $1,560 Questions 1. Using Your Personal Financial Plan sheet 2. what are Jamie Lee's short-term financial goals? How do they compare to her intermediate financial goals? 2. Assess Jamie Lee's current financial situation. Using the SMART approach, what rec- ommendations would you make for her to achieve her long-term goals? 3. Name two opportunity costs that would be considered in Jamie Lee's situation? 4. Jamie Lee needs to save a total of $9.000 in order to get started in her cupcake caf venture. She is presently depositing $1.800 a year in a regular savings account earning 2 percent interest. How much will she have accumulated five years from now in this regular savings account, assuming she will be leaving her emergency fund savings account balance untouched except for a rainy day? "I FIRST THOUGHT THIS PROCESS WOULD BE A WASTE OF TIME, BUT THE INFORMATION HAS HELPED ME BECOME MUCH MORE CAREFUL OF HOW I SPEND MY MONEY." Nearly everyone who has made the effort to keep a daily spending diary has found it bene- ficial. While at first the process may seem tedious, after a while recording this information becomes easier and faster. Directions Using the Daily Spending Diary sheets provided at the end of the book, record every cent of your spending each day in the categories provided. Or you may create your own format to monitor your spending. You can indicate the use of a credit card with (CR). This experience will help you better understand your spending patterns and identify desired changes you might want to make in your spending habits. The Daily Spending Diary sheets are located in Appendix D at the end of the book and in Connect Finance. Questions 1. What did your daily spending diary reveal about your spending habits? What areas of spending might you consider changing? 2. How might your daily spending diary assist you when identifying and achieving financial goals