1. You are planning to save money for down payment of house purchase. Suppose your investment in 401k is tax-deductible. Assuming your personal income tax rate is 22% roughly, how much money do you think you can save each month based on your estimation for your monthly expenses? Your annual income (including salary and bonus) will be $70,000, among which $49,000 is the basic salary and $21,000 is the end of year bonus. Monthly expenses: Rent $600 Utilities $100 Student loan payments $350 Transportation $50 Food $100 Household supplies $50 Car payment/car insurance $200