Guss income statement for 10 years

Credit card student loan Car

Year Income interest interest car Loan maintenance
Year 1 $48000 $ 8,928.57 $ 13,414.45 $ 11,979.90 $ 2,400.00
Year 2 $48000 $ 8,928.57 $ 13,414.45 $ 11,979.90 $ 2,400.00
Year 3 $48000 $ - $ 13,414.45 $ 11,979.90 $ 2,400.00
Year 4 $48000 $ - $ 13,414.45 $ 11,979.90 $ 2,400.00
Year 5 $48000 $ - $ 13,414.45 $ 11,979.90 $ 2,400.00
Year 6 $48000 $ - $ 13,414.45 $ - $ 2,400.00
Year 7 $48000 $ - $ 13,414.45 $ - $ 2,400.00
Year 8 $48000 $ - $ 13,414.45 $ - $ 2,400.00
Year 9 $48000 $ - $ 13,414.45 $ - $ 2,400.00
Year 10 $48000 $ - $ 13,414.45 $ - $ 2,400.00

Car amortion
schedule

annual interest rate 9%

Loan term 5
Payments per year 12
Loan amount $ 15,000.00

period payment interest principle balance insurance

1 $ 11,979.90 ₹ 11,250.00 $ 729.90 $ 14,270.10 $ 1,200.00
2 $ 11,979.90 ₹ 10,702.58 $ 1,277.32 $ 13,722.68 $ 1,200.00
3 $ 11,979.90 ₹ 9,744.58 $ 2,235.32 $ 12,764.68 $ 1,200.00
4 $ 11,979.90 ₹ 8,068.10 $ 3,911.80 $ 11,088.20 $ 1,200.00
5 $ 11,979.90 ₹ 5,134.24 $ 6,845.66 $ 8,154.34 $ 1,200.00

3. After Gus’ car is paid off, he plans to continue setting aside the amount of his
car payment to accumulate funds for the car's replacement. If he invests this amount
at a rate of 3% compounded monthly, how much will he have saved by the end of
the initial 10-year period?

₹ 12,301,312.38 future value

living
expenses Expenses savings
$ 17,640.00 $ 54,362.92 $ -6,362.92
$ 17,640.00 $ 54,362.92 $ -6,362.92
$ 17,640.00 $ 45,434.34 $ 2,565.66
$ 17,640.00 $ 45,434.34 $ 2,565.66
$ 17,640.00 $ 45,434.34 $ 2,565.66
$ 17,640.00 $ 33,454.45 $ 14,545.55
$ 17,640.00 $ 33,454.45 $ 14,545.55
$ 17,640.00 $ 33,454.45 $ 14,545.55
$ 17,640.00 $ 33,454.45 $ 14,545.55
$ 17,640.00 $ 33,454.45 $ 14,545.55

savings by
the end of 10
years $ 67,698.89

expenses total
$ 2,400.00 $ 41,829.90
$ 2,400.00 $ 41,282.47
$ 2,400.00 $ 40,324.48
$ 2,400.00 $ 38,647.99
$ 2,400.00 $ 35,714.14