I need help with mainly questions 3 & 4. Can someone help step by step on how to get answer but solved with numbers not letters!!!!!! I would like to know what numbers are used to get answer!!

place Time Value of Money Mini-Project CE House Mr. Donald Heffernan, a 35 years old account manap At Wells Fargo has gross annual income after all deductibles of $85,000. Mrs. Heffernan quit her job at Walmart to take care of their twin kids, Luke and Christine, So Mr. Heffernan is the only income earner at his house hold. Mr. Heffernan is filing income using the following "Married filing jointly" tax rate schedule. Taxable income over Not over Tax rate $0 18,450 10% 18,451 74,900 15% 74,901 151,200 25% 151,201 230,450 28% 230,451 411,500 33% 411,501 464,850 35% 464,851 39.6% 1. Mr. Heffernan's net annual income is: 72,163 56,013.58 2- Mr. Heffernan's net Monthly income is: 3. Mrs. Heffeman just won the state sweepstake. She got two options to get her prire. (1) To receive $250,000 today. Or (2) to receive a monthly payment of $2000 for 25 years period. If Mrs. Heffernan appropriate discount rate is 6%, Which option should Mrs. Heffeman go with? Note: /Mrs. Heffernan choose to go with option 1, she will invest the $250,000 of 6% to generate monthly income for the 25 years period, 4- The Heffernan's total monthly income is: Once Mr. Heffernan calculates his net monthly income from all sources, he decided to make a personal financial plan. Mr. Heffernan's financial targets include paying his student loan, paying the balance of credit cards, saving for retirement, and saving for his son's and daughter's college. S-MR. Heffernan thinks it is finally time to start taking care of his student loan that has been outstanding for a while now. He has $120,000 outstanding balance. He wants to make monthly payments to pay off that balance to in 10 years. If the interest rate on this outstanding balance is 3%, how much should Mr. Heffernan pay each month? 6. Mr. Heffernan has an outstanding credit card balance of $20,000 with APR of 12%. If he is going to keep paying the minimum monthly payment of $250. How long will it take Mr. Heffernan to pay off the entire credit balance? 7. Mr. Heffernan wants to save for his retirement. He is thinking of saving $1,250 a month in a 401K account that pays an annual rate of 3.5%. How much will he have in his retirement account when he turns 65? 8. Mr. Heffernan wants to give his twin son and daughter $100,000 each when they turn 18. Currently they are 3 years old. How much does Mr. Heffernan need to save on a monthly basis? Assuming that he could invest his savings at a portfolio that earns 4% per year. 9- If Mr. Heffernan can actually stick to his financial plan, how long could his retirement savings afford for his living. Assuming that his estimated annual expenses after retirements is S48000, and that his retirement savings are going to be saved in a bank accounts that earns 2%. place Time Value of Money Mini-Project CE House Mr. Donald Heffernan, a 35 years old account manap At Wells Fargo has gross annual income after all deductibles of $85,000. Mrs. Heffernan quit her job at Walmart to take care of their twin kids, Luke and Christine, So Mr. Heffernan is the only income earner at his house hold. Mr. Heffernan is filing income using the following "Married filing jointly" tax rate schedule. Taxable income over Not over Tax rate $0 18,450 10% 18,451 74,900 15% 74,901 151,200 25% 151,201 230,450 28% 230,451 411,500 33% 411,501 464,850 35% 464,851 39.6% 1. Mr. Heffernan's net annual income is: 72,163 56,013.58 2- Mr. Heffernan's net Monthly income is: 3. Mrs. Heffeman just won the state sweepstake. She got two options to get her prire. (1) To receive $250,000 today. Or (2) to receive a monthly payment of $2000 for 25 years period. If Mrs. Heffernan appropriate discount rate is 6%, Which option should Mrs. Heffeman go with? Note: /Mrs. Heffernan choose to go with option 1, she will invest the $250,000 of 6% to generate monthly income for the 25 years period, 4- The Heffernan's total monthly income is: Once Mr. Heffernan calculates his net monthly income from all sources, he decided to make a personal financial plan. Mr. Heffernan's financial targets include paying his student loan, paying the balance of credit cards, saving for retirement, and saving for his son's and daughter's college. S-MR. Heffernan thinks it is finally time to start taking care of his student loan that has been outstanding for a while now. He has $120,000 outstanding balance. He wants to make monthly payments to pay off that balance to in 10 years. If the interest rate on this outstanding balance is 3%, how much should Mr. Heffernan pay each month? 6. Mr. Heffernan has an outstanding credit card balance of $20,000 with APR of 12%. If he is going to keep paying the minimum monthly payment of $250. How long will it take Mr. Heffernan to pay off the entire credit balance? 7. Mr. Heffernan wants to save for his retirement. He is thinking of saving $1,250 a month in a 401K account that pays an annual rate of 3.5%. How much will he have in his retirement account when he turns 65? 8. Mr. Heffernan wants to give his twin son and daughter $100,000 each when they turn 18. Currently they are 3 years old. How much does Mr. Heffernan need to save on a monthly basis? Assuming that he could invest his savings at a portfolio that earns 4% per year. 9- If Mr. Heffernan can actually stick to his financial plan, how long could his retirement savings afford for his living. Assuming that his estimated annual expenses after retirements is S48000, and that his retirement savings are going to be saved in a bank accounts that earns 2%