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jash's finance project

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Robert Jackson
Robert Jackson

The document discusses a pharmacist's career choice and monthly finances. It outlines that the pharmacist earns a gross monthly income of $2,343.17 but takes home $1,740.04 after taxes, 401k, and other deductions. Monthly expenses total $5,111.80, exceeding take home pay. The document then analyzes savings and investment options, purchasing a TV on credit, and choices for buying a new or used car. In the final task, it notes monthly expenses are 61.02% of earnings and the pharmacist would put leftover money into savings and investigate other investment options.

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jash's finance project
TASK 1 Career Choice: Pharmacist Income: $28,118.00 Gross Monthly Income: $2,343.17 Paid into taxes each month 401k= $37.49 Disability= $15.00 Healthcare= $82.01 Time-off= pay Monthly take-home income $1,740.04
TASK 2 Housing..$751 Utilities.$397 Food.$400 Transportation..$1,310 Clothes....$350 Health Care$353 Entertainment.$150 Personal..$550 Miscellaneous$750 Savings$100.8 Monthly Expenses.$5,111.8 Annual Expenses.$61,341.6 Taxes$9,201.24 Annual Salary Needed$70,548.84
TASK 3 For my saving I chose to go with the Savings Account because if there is an emergency I can get my money out when I need to. Institution: Discover Bank Interest Rate: .85% Compound Period: Daily Initial Investment Needed: $500 At the end of five years my $500 investment will turn into 521.70. I will keep adding on to my savings account for another five years to make double.
TASK 4 I purchased a Samsung UN55F9000-55 LED Smart T.V.- 4k U.H.&T.V.(2160p) for $2,056 with my 15% annual interest rate. It will take me 23 months to pay it off with minimum payments of $2,196.01 every month. The total price I will be paying for the T.V. is $2,384.96. I would choose to pay $226.16 every month because it would pay off the card faster with less interest having to be paid.
TASK 6 Car: 2014 Civic Sedan New:$24,331.00 Used:$15,991.00 I chose the option of buying a car new at $24,331.00 with 36 monthly payments with a 2.39% interest rate. The payment every month would be 4,1342.42. I choose this because I want to pay it off sooner and this way I wont be paying more in interest rates than the car is worth.
FINIAL TASK My Monthly Expenses are $5,111.80 The Percentage of my earnings that I spend it only 61.02% Realistically what I would do with the left over money I have is probably put it into my Savings Account than I initially said and probably find another way of investing on top of the Savings Account.

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jash's finance project

  • 2. TASK 1 Career Choice: Pharmacist Income: $28,118.00 Gross Monthly Income: $2,343.17 Paid into taxes each month 401k= $37.49 Disability= $15.00 Healthcare= $82.01 Time-off= pay Monthly take-home income $1,740.04
  • 4. TASK 3 For my saving I chose to go with the Savings Account because if there is an emergency I can get my money out when I need to. Institution: Discover Bank Interest Rate: .85% Compound Period: Daily Initial Investment Needed: $500 At the end of five years my $500 investment will turn into 521.70. I will keep adding on to my savings account for another five years to make double.
  • 5. TASK 4 I purchased a Samsung UN55F9000-55 LED Smart T.V.- 4k U.H.&T.V.(2160p) for $2,056 with my 15% annual interest rate. It will take me 23 months to pay it off with minimum payments of $2,196.01 every month. The total price I will be paying for the T.V. is $2,384.96. I would choose to pay $226.16 every month because it would pay off the card faster with less interest having to be paid.
  • 6. TASK 6 Car: 2014 Civic Sedan New:$24,331.00 Used:$15,991.00 I chose the option of buying a car new at $24,331.00 with 36 monthly payments with a 2.39% interest rate. The payment every month would be 4,1342.42. I choose this because I want to pay it off sooner and this way I wont be paying more in interest rates than the car is worth.
  • 7. FINIAL TASK My Monthly Expenses are $5,111.80 The Percentage of my earnings that I spend it only 61.02% Realistically what I would do with the left over money I have is probably put it into my Savings Account than I initially said and probably find another way of investing on top of the Savings Account.