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Case Studies 1 Ene Sa l with a singing anded a wob with wary of The of the i shi b and on 35,500) Emce also serb to purchase was work and w ho pu t op to p ose money wide for his real time Oharro se send to do some financial planne which besclected to your me Arthe end of t de los and credit card debt, as well as 50.000 fer payment on code If pose home salary for re n t He has gathered the following to the plan h e was the top o f . She loans we typically in equal molestallments and of lowowsThe con c ed Credits wide vary in the interested Typical APR t are in h e way D a y period. The rest rate on Eanco's credit card 18 compounded Carlo r epaid over the four of The AP on car loan cao castighs 12. As a fitness can secu l oan compoundhoshly to be pailer mots A 30 y a le magare is curry poisor 575% to opereur En son mu y to down prechedisconde des mod prate agence that can comechas $6 permet nement opportunities can provide thema 'Safe' we can we prywhy we could Ecosport and older sig med lom b anteynerledly incom e Het OLLUT YM. course_id=266897_1&content_id= 17104391_1 Enrico Suarez just graduated with a B.S. in engineering and landed a new job with a starting salary of $55.000. There are a number of things that he would like to do with his newfound "wealth". For starters, he needs to begin repaying his student loans (totaling $22.000) and he'd like to reduce some outstanding balances on credit cards (totaling $5,500). Enrico also needs to purchase a car to get to work and would like to put money aside to purchase a condo in the future. Last but not least, he wants to put some money aside for his eventual retirement Our recent graduate needs to do some financial planning for which he has selected a 10-year time frame. At the end of 10 years, he'd like to have paid off his current student loan and credit card debt, as well as have accumullyed $40,000 for a down payment on a condo. If possible. Enrico would like to put aside 10% of his take home salary for retirement. He has gathered the following information to assist him in his planning. Student loans are ypically repaid in equal monthly installments over a period of 10 years. The interest rate on Enricos loan is annual compounded monthly Credits cards vary greatly in the interest rate charged. Typical APR rates are close to 17% and monthly umum payments are usually computed using a 10-year repayment period. The interest rate on Enrico's credit card is 18% compounded monthly ww w buer Erica . Car loans are usually repaid over three, four, or five years. The APR on a car loan can be as low as 2996 has can secure a $16,000 car loan at 9% compounded monthly to be repaid over 60 months A 30 year, fixed rate mortgage is currently going for 5.75% to 6% per year. Enrico can save enough money to make down payment on the purchase of his condo, he can avoid private mortgage insurance that can cost as much as S60 per month Investment opportunities can provide variable returns Safe investments can guarantee P a lestinements could return 30% or more per year. income taxes and benefit deductions. He should Enrico's parents and older siblings have reminded him that his monthly take home pay will be reduced not count on being able to spend more than 80% of his gross salary do As Enrico 's friend you have been asked to review his financial plans. How reasonable 14PM 3/5/2005 ca PPS Uld board/execute/displayLearningUnit?course id=_266897 18 content id 1710439 Enrico Suarez just graduated with a B.S. in engineering and landed a new job with a starting salary of $55,000. There are a number of things that he would like to do with his newfound "wealth".For starters, he needs to begin repaying his student loans (totaling $22.000) and he'd like to reduce some outstanding balances on credit cards (totaling $5.500) Enrico also needs to purchase a car to get to work and would like to put money aside to purchase a condo in the future. Last but not least, he wants to put some money aside for his eventual retirement Our recent graduate needs to do some financial planning for which he has selected a 10-year time frame. At the end of 10 years he d like to have paid off his current student loan and credit card debt, as well as have accumulated $40,000 for a down payment on a condo. If possible, Enrico would like to put aside 10% of his take home salary for retirement. He has gathered the following information to assist him in his planning Student loans are typically repaid in equal monthly installments over a period of 10 years. The interest rate on Enrico's loan is 8% annual compounded monthly Credits car r y greatly in the interest rate charged. Typical APR rates are close to 17%, and monthly nim m gayments are usually computed using a 10-year repayment period. The interest rate on Enrico's credit card is 18% compounded monthly Car loans are usually repaid over three, four or five years. The APR on a car loan can be as low as 2.9% or as high as 1296. As a first time car buver Enrico can secure a $16,000 car loan at 9% compounded monthly to be repaid over 60 months . A 30-year, fixed rate mortgage is currently going for 5.75% to 6% per year. If Enrico can save enough money to make a 20% down payment on the purchase of his condo, he can avoid private mortgage insurance that can cost as much as $60 per month Investment opportunities can provide variable returns. "Safe investments can guarantee per year, whilenskinvestments could retum 30 or more per year Enrico's parents and older siblings have reminded him that his monthly take home pay will be reduced by income taxes and benefit deductions. He should not count on being able to spend more than 80% of his gross salary. As Enrico's friend you have been asked to review his financial plans. How reasonable are his goals 515 PM Case Studies 1 Ene Sa l with a singing anded a wob with wary of The of the i shi b and on 35,500) Emce also serb to purchase was work and w ho pu t op to p ose money wide for his real time Oharro se send to do some financial planne which besclected to your me Arthe end of t de los and credit card debt, as well as 50.000 fer payment on code If pose home salary for re n t He has gathered the following to the plan h e was the top o f . She loans we typically in equal molestallments and of lowowsThe con c ed Credits wide vary in the interested Typical APR t are in h e way D a y period. The rest rate on Eanco's credit card 18 compounded Carlo r epaid over the four of The AP on car loan cao castighs 12. As a fitness can secu l oan compoundhoshly to be pailer mots A 30 y a le magare is curry poisor 575% to opereur En son mu y to down prechedisconde des mod prate agence that can comechas $6 permet nement opportunities can provide thema 'Safe' we can we prywhy we could Ecosport and older sig med lom b anteynerledly incom e Het OLLUT YM. course_id=266897_1&content_id= 17104391_1 Enrico Suarez just graduated with a B.S. in engineering and landed a new job with a starting salary of $55.000. There are a number of things that he would like to do with his newfound "wealth". For starters, he needs to begin repaying his student loans (totaling $22.000) and he'd like to reduce some outstanding balances on credit cards (totaling $5,500). Enrico also needs to purchase a car to get to work and would like to put money aside to purchase a condo in the future. Last but not least, he wants to put some money aside for his eventual retirement Our recent graduate needs to do some financial planning for which he has selected a 10-year time frame. At the end of 10 years, he'd like to have paid off his current student loan and credit card debt, as well as have accumullyed $40,000 for a down payment on a condo. If possible. Enrico would like to put aside 10% of his take home salary for retirement. He has gathered the following information to assist him in his planning. Student loans are ypically repaid in equal monthly installments over a period of 10 years. The interest rate on Enricos loan is annual compounded monthly Credits cards vary greatly in the interest rate charged. Typical APR rates are close to 17% and monthly umum payments are usually computed using a 10-year repayment period. The interest rate on Enrico's credit card is 18% compounded monthly ww w buer Erica . Car loans are usually repaid over three, four, or five years. The APR on a car loan can be as low as 2996 has can secure a $16,000 car loan at 9% compounded monthly to be repaid over 60 months A 30 year, fixed rate mortgage is currently going for 5.75% to 6% per year. Enrico can save enough money to make down payment on the purchase of his condo, he can avoid private mortgage insurance that can cost as much as S60 per month Investment opportunities can provide variable returns Safe investments can guarantee P a lestinements could return 30% or more per year. income taxes and benefit deductions. He should Enrico's parents and older siblings have reminded him that his monthly take home pay will be reduced not count on being able to spend more than 80% of his gross salary do As Enrico 's friend you have been asked to review his financial plans. How reasonable 14PM 3/5/2005 ca PPS Uld board/execute/displayLearningUnit?course id=_266897 18 content id 1710439 Enrico Suarez just graduated with a B.S. in engineering and landed a new job with a starting salary of $55,000. There are a number of things that he would like to do with his newfound "wealth".For starters, he needs to begin repaying his student loans (totaling $22.000) and he'd like to reduce some outstanding balances on credit cards (totaling $5.500) Enrico also needs to purchase a car to get to work and would like to put money aside to purchase a condo in the future. Last but not least, he wants to put some money aside for his eventual retirement Our recent graduate needs to do some financial planning for which he has selected a 10-year time frame. At the end of 10 years he d like to have paid off his current student loan and credit card debt, as well as have accumulated $40,000 for a down payment on a condo. If possible, Enrico would like to put aside 10% of his take home salary for retirement. He has gathered the following information to assist him in his planning Student loans are typically repaid in equal monthly installments over a period of 10 years. The interest rate on Enrico's loan is 8% annual compounded monthly Credits car r y greatly in the interest rate charged. Typical APR rates are close to 17%, and monthly nim m gayments are usually computed using a 10-year repayment period. The interest rate on Enrico's credit card is 18% compounded monthly Car loans are usually repaid over three, four or five years. The APR on a car loan can be as low as 2.9% or as high as 1296. As a first time car buver Enrico can secure a $16,000 car loan at 9% compounded monthly to be repaid over 60 months . A 30-year, fixed rate mortgage is currently going for 5.75% to 6% per year. If Enrico can save enough money to make a 20% down payment on the purchase of his condo, he can avoid private mortgage insurance that can cost as much as $60 per month Investment opportunities can provide variable returns. "Safe investments can guarantee per year, whilenskinvestments could retum 30 or more per year Enrico's parents and older siblings have reminded him that his monthly take home pay will be reduced by income taxes and benefit deductions. He should not count on being able to spend more than 80% of his gross salary. As Enrico's friend you have been asked to review his financial plans. How reasonable are his goals 515 PM