FinancialPlan - Matt Serna Mr McKenzie Personal Finance Personal Financial Plan 3 Financial Goals of Mine 1 Get a apartment to myself 2 Graduate

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Matt Serna Mr. McKenzie Personal Finance December 11, 2010 Personal Financial Plan 3 Financial Goals of Mine. 1. Get a apartment to myself. 2. Graduate College. 3. Buy my first House. Estimate Cost of these 3 Goals. 1. The cost of my first goal, I’m looking for something in the $500 a month rate. 2. Graduating College is going to be costly. As of now I want to go to the U of Utah. So the tuition there is about in the 9K – 12K range. 3. To buy my first house I plan on living alone for a while, so a single bedroom house. So ill guess around 90K. How much I need to save each month to meet each goal. 1. Assuming that the rate of return is .5% I would have to save at least $41.91 each month to each my goal in 1 year. 2. Assuming that the rate of return is 1.5% I would have to save at least $808.41 each month to reach my goal of 9K in 5 years. 3. Assuming that the rate of return is 6% I would have to save $7,580 each month for 10 years to reach my goal of 90K. In order to achieve these few goals I will need to do many things to get me where I
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This note was uploaded on 04/27/2011 for the course FIN 101 taught by Professor Daly during the Spring '11 term at Salt Lake Community College.

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FinancialPlan - Matt Serna Mr McKenzie Personal Finance Personal Financial Plan 3 Financial Goals of Mine 1 Get a apartment to myself 2 Graduate

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