### MAT125 Southern New Monthly Expenses and Income Report

I have attached all rubrics and prompts and templates. Please use only info provided and use real math equations to solve and give explanation. This is for math tutors only. For the template, assume I am a single woman living in Allston, Boston. Use the location and salary in the examples for numbers. Use a reasonable number for monthly expenses, assume I have one credit card debt of \$1500, one car loan of \$20,000 at 6% APR for 60 month (you must figure out monthly payment and show math) and a student loan of \$60,000. You can use template as prompt but you can also use excel spreadsheet.

Overview: Throughout this course, you will learn how to apply quantitative reasoning and problem-solving strategies to a variety of staged, but real-world contexts. You will build upon the skills you already had to advance the range of contexts to which you can apply mathematical thinking and problem-solving strategies effectively.

Mastery of the skills and strategies covered in this course will help set the foundation for future coursework, future career opportunities, as well as problem solving and decision making in your personal life.

Prompt: Congratulations on graduating with your bachelor’s degree from Southern New Hampshire University! A new array of opportunities is open to you, but which will you choose, and how will it impact your life?

In this milestone, you will select an employment opportunity from your chosen discipline area of interest. Once you have selected the opportunity you wish to pursue, discuss the impact your choice will have on your life, establish your budget, and plan to pay down your debt.

Refer to the following critical elements to complete this milestone:

1. Employment Opportunity Selection: Select an employment opportunity. Although it is not required at this point, you will defend your selection usingyour calculations and personal criteria in the final project.
2. Living Expenses and Debt: Using your selected employment opportunity, analyze your monthly expenses and income, and prepare a plan for paying down your debt. You can use your actual amounts of expenses and debt if you prefer, or, if you are uncomfortable using real numbers, or if you do not have any debt, you can make up a principal amount, interest rate, payoff period, and minimum payment to cover at least one student loan, one credit card, and one personal or auto loan. You can utilize as many loans as you like, but you must have at least three.
1. Budget Creation: Create a monthly budget using your new income, real-life expense categories, and the expenses associated with travel based on your selected employment opportunity.
2. Debt: In this section, you will compare your lines of credit to determine the best payoff method for you.
1. Comparison: Compare monthly minimum payments, principal totals, interest rates, and payoff period.
2. Process: Determine how you will figure out how to pay off your debt over time, considering your budget and your new income. Explain

3. Plan: Establish a debt payoff plan that fits your budget, lifestyle, and the demands of the debt to be paid, explaining your reasoning.

Rubric
Guidelines for Submission: Your paper must be submitted as a Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch

margins. Optionally, you may use the Milestone Two Template to submit your work.

Critical Elements

Proficient (100%)

Needs Improvement (85%)

Not Evident (0%)

Value

Offer Selection

Selects an employment opportunity

Does not select an employment opportunity

10

Budget Creation

Creates a monthly budget using the new income, real-life expense categories, and expenses associated with travel to the new work opportunity

Creates a monthly budget using the new income, real-life expense categories, and expenses associated with travel to the new work opportunity, but is missing key expense categories or is otherwise incomplete or contains inaccuracies

Does not create a monthly budget with new income and expense categories

20

Debt: Comparison

Accurately compares key characteristics of at least 3 loans to get a clear picture of the requirements of each

Compares characteristics of at least 3 loans to get a clear picture of the requirements of each, but lacks accuracy or key characteristic detail

Does not compare characteristics of at least 3 loans

20

Debt: Process

Determines a process for figuring out how to pay off debt over time, considering budget and new income, explaining process

Determines a process for figuring out how to pay off debt over time but lacks consideration of budget and new income or lacks details

Does not determine a process for figuring out how to pay off debt over time

20

Debt: Plan

Establishes a reasonable payoff plan with explanation of how it fits budget, lifestyle, and requirements of debt

Establishes a payoff plan with explanation of how it fits budget, lifestyle, and requirements of debt, but lacks reasoning or is incomplete

Does not establish a payoff plan with explanation of how it fits budget, lifestyle, and requirements of debt

20

Articulation of Response

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

10