sallary:34,944.00

11

under question the answers to 4,8 and 11 are in order.

14. Looking at the first 10 years after college, what are your monthly expenses? What are your yearly expenses? Sum together the results from #4,8,811 along with your $600 for retirement, $200 credit card balance, and $1500 each month for general expenses. 4)Computation of Monthly Payments: N: 36 (since there are 36 total monthly payments over a 3-year loan period) %:0.39 (since the monthly interest rate is 4.7%/12 ) PV: ($44,319) (since this is the amount of the loan or the present value of the payments) PMT: S1,322.32 FV: 0 (since we want to own the car outright at the end of the 3-year loan period) P/Y:12 (since there are 12 compounding periods in a year) C/Y:12 (since there are 12 payments per year). Explanation: PMT=1(1+(Yr))N(rP)PV(YC) Substituting the values given: PV=$25,000 (present value of the loan) YC=126.8%=0.5667% (monthly interest rate) Step 2/2 Following the further calculation: N=7 years * 12 months/year =84 (total number of payments) P/Y=12 (number of payments per year) Explanation: PMT 1(1+(1600.867))8425,000(16070.5077) PMT $381.61 (rounded to the nearest cent)