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You will graduate in the near future and will begin working. You negotiated the offer and will be making $40,000 per year. After taxes and

You will graduate in the near future and will begin working. You negotiated the offer and will be making $40,000 per year. After taxes and deductions, you will bring home 70% of that $40,000 ($28,000) or 2,333 per month. This is what you will have to live on each month. Rent, utilities, food, etc. must come out of the $2,333.00 each month. These are living expenses.

But you also have debt. See the table below.

A B C D E F G
Item Purpose Debt Balance Interest Rate Monthly Payment Months Til Paid Off Total Payments & Interest
Student Loan School $22,000 6.8 $253.00 120 ???
Credit Card Misc. $3,000 18.9 $120 33 ???
Store Card Clothes $1,500 12.9 $75 23 ???
Total ??? ??? ???

IN THE ABOVE TABLE, FILL IN TOTAL PAYMENTS & INTEREST FOR COLUMN G AND YOUR TOTALS FOR COLUMNS C, E AND G

What percent is the Column E total of your $2,333 take home pay?_______________________

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