You are two individuals who just graduated from the college, living together, an

Question

You are two individuals who just graduated from the college, living together, and have an income of $60,000 with a tax rate of 20%. The goal is to create a financial plan that will gain the most money in four weeks. The company will match your 401K plan for 5%. The students with the highest growth will be exempt from the final. Please put everything on an excelled spread sheet and email it to. Here are some areas that you should take into consideration; you may need to add more. Allowance Comparison Back-To-School Building An Education Fund Entertainment Planner How Much Car Can You Afford? How Much House Can You Afford? How Much Will College Cost? How Will My Savings Grow? Inflation Impact On Retirement Needs Based Allowance Pay Down Debt or Invest? Retirement Fund

Explanation / Answer

Solution:

Two Persons Before Interest Income = 60,000

Interest on Income 60,000 * 20 / 100 = 12,000

   After Interest Net Income = 48.000

   According to 401K Plan 48,000 * 5 / 100 = 2,400 For each Area

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