Question
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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