fianace question time value of mony

Cindy just graduated with a degree in Economics and started a new job with a
net monthly salary of 3,200 . First she wants to pay his tuition loans (20,000 ) and debt
on credit cards (5,000 ). She also needs to buy a car and save money to purchase a small flat
in the future. Lastly, she wishes to save money for retirement. For all these requirements, she
made a plan for 10 years.
By the end of 10 years, she will have paid off the tuition loan and credit card debt, and have
saved 40,000 for the principal payment of the flat. She would like to allocate 10% of his
salary for retirement.
• Tuition loans are repaid in equal monthly payments over a period of 10 years. The
interest rate is 8% compounded monthly.
• The interest rate on credit card debt is 18% compounded monthly.
• She can find a 15,000 car loan at 9% compounded monthly to be reimbursed
over 60 months. Although the car will be completely paid after 5 years, she might need
to replace the car at the end of year 5.
Estimate the living expenses; rent, food, etc. Estimate the expenses of the car; insurance, fuel
and maintenance. Will she have problems in meeting her financial goals? List all your
assumptions. Show your calculations and explain your conclusions.