1. Evaluate the following using the S.M.A.R.T. planning model and information in this section using the...

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Finance

1. Evaluate the following using the S.M.A.R.T. planning modeland information in this section using the information below:
a. pay off student loan
b. buy a house and save for children's education
c. accumulate assets
d. retire
e. travel around the world in a sailboat.
Alice's assets may be a car worth about $5,000 and a savingsaccount with a balance of $250. Debts include a student loan with abalance of $53,000 and a car loan with a balance of $2,700; theseare shown below:
Alice's Financial Situation
ASSETS Car $5,000 Savings $250 Total $5,250
DEBTS Car Loan 2,700 Student Loan 53,000 Total 55,700
Her annual disposable income (after-tax income or take-home pay)may be $35,720, and annual expenses are expected to be $10,800 forrent and $14,400 for living expenses—food, gas, entertainment,clothing, and so on.
annual loan payments are $2,400 for the car loan and $7,720 forthe student loan.
This is shown below:
Alice's Income and Expenses After tax income $35,720 Rent$10,800 Living expenses $14,400 Remaining for debt reduction andsavings $10,520 students loan payments $7,720 car loan payments$2,400 remaining for savings $400

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1. Evaluate the following using the S.M.A.R.T. planning modeland information in this section using the information below:a. pay off student loanb. buy a house and save for children's educationc. accumulate assetsd. retiree. travel around the world in a sailboat.Alice's assets may be a car worth about $5,000 and a savingsaccount with a balance of $250. Debts include a student loan with abalance of $53,000 and a car loan with a balance of $2,700; theseare shown below:Alice's Financial SituationASSETS Car $5,000 Savings $250 Total $5,250DEBTS Car Loan 2,700 Student Loan 53,000 Total 55,700Her annual disposable income (after-tax income or take-home pay)may be $35,720, and annual expenses are expected to be $10,800 forrent and $14,400 for living expenses—food, gas, entertainment,clothing, and so on.annual loan payments are $2,400 for the car loan and $7,720 forthe student loan.This is shown below:Alice's Income and Expenses After tax income $35,720 Rent$10,800 Living expenses $14,400 Remaining for debt reduction andsavings $10,520 students loan payments $7,720 car loan payments$2,400 remaining for savings $400