milestone two
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School
Southern New Hampshire University *
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-140-X2476
Subject
Mathematics
Date
Jan 9, 2024
Type
docx
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3
Uploaded by langillem
1
Milestone Two
Michael Langille
Southern New Hampshire University
MAT-125-H7906 Quant Reason & Prob Solving 23EW2
Instructor Elizabeth DiScala
November 26, 2023
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5-5-1 Final project: milestone two
I would accept the offered position of web designer. With an annual income of $34,700 and a 30% tax rate, my post-tax earnings would amount to $24,290. Earning $34,700 per year at a tax rate of 32% would leave me with $23,596 after expenses. None of the $50-$500 incentives that are available per undertaking are factored into this figure. Thus, I would have $24,290 annually after taxes to pay off my obligations and support myself.
Due to this role being remote, I would not be required to travel to work, saving me money that I could use to meet with clients when necessary. The closest client is located approximately 50 miles away; driving to and from the city would cost me around $10. My monthly car payment is $312, and my credit card payments are $25 for one and $30 for the other,
for a grand total of $55 per month. Consequently, my monthly debt is $365. Monthly, my mortgage payment is $560. Consequently, my monthly mortgage and debt total $925. As a result of my twelve years of military service, I do not owe any student loans. Rather, the GI Bill has covered the expenses for my college education and supplies. I would be required to pay between $400 and $500 to have my computer updated; however, they offered a $1000 discount, and I upgraded my work materials for free, which eliminated that expense. Using my yearly earnings, I could approximate a monthly income of $2,024.17. Upon satisfying my monthly obligations to my two credit cards, mortgage, and auto loan, I would be left with $1,099.17. I allocate an average of $400 per month towards supplies. This reduces the total to $699.17. Every month, I would deposit $200 into my savings account in preparation for gasoline or emergency situations. This reduces the total to $499.17. To expedite the reduction of my debt, I would allocate an additional $20 per month to each of my credit
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cards, thereby augmenting my total debt by $40 and reducing it to $459.16 per month. This would be beneficial because my credit cards will take ten years to pay off at my current rate of interest; if I paid the additional $20 on each, I could pay them off in approximately five years as opposed to ten.
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