List at least three financial situations and the time value of money calculations that would be helpful to Pam in planning or making decisions

 

While in college, Pam Jenkins worked part-time and was never concerned about long-term financial planning. Rather than creating a budget, she used her checkbook and savings account (which usually had a very low balance) to handle her financial needs. Life Situation Single Age 22 Starting a career No dependents Financial Data Monthly income $2,600 Living expenses $2,180 Assets $8,200 Liabilities $3,470 Emergency fund $530 After completing college, Pam began her career as a sales representative for a clothing manufacturer located in California. After one year, her assets consist of a 2002 automobile, a television set, some electronic entertainment equipment, and clothing and other personal belongs, with a total value of about $8,200.