"MONTHLY PAYCHECK (GROSS)" IS GROSS PAY. IGNORE INCOME TAX PAYMENTS IN THIS CALCULATION. ONLY CONSIDER "PAYROLL TAX WITHELD"

MONTHLY VISA BILL $355* $825 CHECKING ACCOUNT BALANCE QUARTERLY AUTO INSURANCE (NOT YET DUE) ANTIQUE COIN COLLECTION $450 CONDOMINIUM MONTHLY GROCERIES AUTOMOBILE $3,250 $65,000 $225 $9,000 STOCKS IN BROKERAGE ACCT $5,500 MASTER CARD BILL $245* MONTHLY PAYCHECK (GROSS) $3,000 PAYROLL TAX WITHHELD $ 600 MONTHLY MORTGAGE PAYMENT $530 MUTUAL FUNDS $2,100 401(K) RETIREMENT ACCT $4,500 MONTHLY CAR PAYMENT $265 MONTHLY UTILITY BILL $275* SAVINGS ACCT BALANCE $2,300 MONTHLY CLOTHING EXPENSES $45 FURNITURE $5,500 $50,000 MORTGAGE BALANCE AUTO LOAN BALANCE OTHER PERSONAL PROPERTY $4,225 $8,000 OTHER MONTHLY CASH EXPENSES $150 ANNUAL MEDICAL EXPENSES $264 *Bills represent the average of the prior month's charges AND ALSO current month's expenses. HINT: Since they are average amounts you may assume that the credit card and utility bills are both a debt (related to the prior month) and an expense (related to the current month). 2) 3) 4) 5) 6) 7) 8) What is the take Home Pay? What are the total Monthly Living Expenditures? What is the Monthly income Available for Savings & Investment? What is the Savings Ratio? What is the Month's Living Expenses covered ratio? What is the Long Term debt Coverage Ratio? What suggestions would you give your client to better help her financial situation