Question
You are thinking about buying a car. Your after-tax monthly income is $4500.00. Your monthly expenses are: Car insurance $150; Rent $2000;groceries $500; entertainment $400;
You are thinking about buying a car. Your after-tax monthly income is $4500.00. Your monthly expenses are:
Car insurance $150; Rent $2000;groceries $500; entertainment $400; Ultilities $350; Credit card payment $400; other $300.
What is your monthly cash flow?
If you make an annual end of year payments into your savings, how much will you have after 10 years if you save $500 per year and earn 3.10% on your investment, compounded annually?
Please use formulas not excel.
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
