Quantitative Reasoning Portfolio Project Hello Classmates and Professor, this is my Quantitive Reasoning Project MATH201 College Mathematics By: Krista Romero

Introduction The purpose of this project is to better prepare me for paying back my student loans. Part of being prepared is understanding your responsibilities. In this presentation I will demonstrate my readiness to payback my student loans. Notes to presenter: What is your purpose for sharing this reflection? Is it at the end of a unit or project? Are you sharing this reflection, at the attainment of a learning goal you set for yourself? Is it at the end of a course? State your purpose for the reflection or even the purpose of the learning experience or learning goal. Be clear and be specific in stating your purpose.

My Hypothesis Will I be able to repay my student loans faster than the standard ten year repayment option? I will pay standard payments for the first year, each year after I will increase the amount I pay by 50.00 [] Notes to presenter: Description of what you learned in your own words on one side. Include information about the topic Details about the topic will also be helpful here. Tell the story of your learning experience. Just like a story there should always be a beginning, middle and an end. On the other side, you can add a graphic that provides evidence of what you learned. Feel free to use more than one slide to reflect upon your process. It also helps to add some video of your process. This Photo by Unknown Author is licensed under CC BY

Expected Salary Monthly Salary Sources Used Monthly Salary Average Salary 28,600+34,560=63160 63160/2=31,580 Expected Salary 31,580 Monthly Salary 31,580/12=2632.00 Monthly Salary before taxes is $2632.00 Net Salary 2632*25%=658.00 2632-658=1974 Net Salary after Taxes is $1974.00 Beginning Salary: 28,600 Beginning Salary: 34,560 https://www.indeed.com/jobs?q=coding+specialist&l=California Notes to presenter: What was important about this learning experience? How is it relevant to your course, yourself, or your society or community? Why is this significant? This SmartArt allows you add images and text to help outline your process. If a picture is worth a thousand words, then pictures and words should help you communicate this reflection on learning perfectly! You can always click on Insert>SmartArt to change this graphic or select the graphic and click on the Design contextual menu to change the colors. https://www.monster.com/jobs/search/?q=coding-specialist

My Monthly Budget

Student Loan Amount After two year of school my Total student loan is $29,581 Interest rate is 4.7 %

Estimated Student Loan Payment My total loan amount is $29,581.00 Interest is 4.7% My Monthly payments will be 309.43 for 120 monthly what percentage of your income will go to your loan payment? 310.00 / 1974.00 = 0.15704154 To make that a percent move the decimal two places to the right I will put 16% of my income towards my student loan payment

Total Cost of my loan (Future Value) To determine your Future Value you will take the interest amount and add it to the principle of your loan. Principle of loan is $29,581.00 Total interest is $7,550.92 29581+7550.92= 37131.92 Total Future Value is $37,131.92

Can we pay the loan off faster than the standard 10 year payment option? When you decrease the amount of years it takes to pay off your loan, Your payments increase, but your total interest and future value decrease, saving you money in the long run Years Monthly Payments Total Interest Future Value Number of Payments 10 309.00 7,550.92 37,131.92 120 9 336.43 6,753 35,344.00 108 7 413.94 5,189.79 35040.79 84 5 554.17 3,669.40 33,520.40 60

Conclusion What payments are best for me: 413.00 for seven years. I can afford to make these payments as I have an disposable income of 650.00 after all bills are paid. Will I be able to pay my student loans off faster than the standard 10 year payment option? Yes I want to start by increasing my payment to 400.00 per month for 1 year and than increase my payments by 50.00 per year.