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Business, 24.10.2020 02:10 azimgd1612

James works full time as an entry-level web designer since earning his certi He rents an apartment by himself. He has a credit card, which he used to purchase furniture, with a balance
of $3,235. Unfortunately, to celebrate his first job, James also financed a new car. His car cost $28,000. His
payments are $554 for a term of 5 years. James has health insurance and disability insurance through his
employer, which cost him $185 a month. He also contributes 4% of his (gross) income to his 401(k). James
fixed monthly expenses include:
Rent..
$950
Insurance (renter's and ID theft)
$25
Insurance (health and disability)
$185
Retirement (401(k))
$157
Car insurance
$120
Utilities
$100
Cell phone
$85
Cable TV
$70
Credit card (minimum payment)
$150
(Note: At 17% interest, it will take 26 months to pay off this credit card debt)
Car payment
$554
James' budget must also include: Giving, Saving, Food, Gas, Entertainment and Personal

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Answers: 1

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