Question 1

Use the information below to solve this problem.

What quantitative and qualitative education funding goals do Jamie and Claire have? List each goal separately.

Question 2

Look up the In-State On-campus 2023-2024 Yearly Cost of Attendance for the following schools.

Eastern Connecticut State University
University of Connecticut / UCONN (Use Subtotal Direct Cost)

Question 3

1. List the repayment options for the Stafford Loan.
   1. Identify the term or term range of the repayment plan. How long can the payments last?
   2. Identify one requirement for each of the repayment plans.

Please format your answers as follows (This is for example purposes):

6. Example Repayment plan.(please put in bold and underline type)

1. Its term is 3 to 250 years.
2. The maximum monthly payment is $1,000. - Or - Payment is based on income or family.

Question 5

Use the information from the Education Planning section of the "Case Study FPC 2019" to solve this problem. Solve for the amount to fully fund Brianna's and Riley's education at the start of Brianna's college career. Assume Jamie and Claire will use the aggressive stock return for their return on investment. In the Assumptions, use the rate given for college inflation.Ignore that Brianna has $20,000 in a CD.Both children will start college at the age of 18. How much do Jamie and Claire need to save at the end of each year? Use the uneven Cash Flow Method. Please show all work.

\f\fInvestment Portfolio Information Retirement Plans Jamie has a 401(k) through his employer. Jamie contributes 7% of salary each year and the company contributes 3% each year. Claire contributes 6% of salary each year to her 401(k) at Boeing, and her employer matches 100% of the first 3% and 50% of the next 2% that she contributes. Both Jamie and Claire are 100% vested in the employer contributions. Owner Allocation Fair Market Beneficiary Value Jamie - 401(k) Aggressive Growth Fund $47,800 Claire Jamie - 401(k) International High-Yield Bond Fund $22,300 Claire Jamie - 401(k) rkets Fund $30,900 Claire Jamie - IRA Growth Fund $29,000 Brianna and Riley Claire - 401(k) Boeing Stock* $32,400 Jamie Claire - 401(k) Aggressive Growth Fund $20,250 Jamie Claire - 401(k) International Growth Fund $20,250 Jamie Claire - 401(k) Growth Fund $8,100 Jamie Cost basis in the Boeing stock is $15,000. Personal Investments Name # of Shares Price per Current Value Cost Basis share American Motors 250 $21.50 $5,375 $2,437 First Southern Bank Corp 150 $46.78 $7,017 $2,456 whatsnext.com 1,000 $24.00 $24,000 $20,500 NewTech 900 $2.00 $1,800 $2,500 Equity Growth Mutual Fund 400 $18.75 $7,500 $4,500 Name Face Amount Current Value Interest Rate Payable When Matures NewTech (Bond))| $5,000 $5,169 Annually 3 years (five bonds) **Comparable bonds are yielding 4.7%. Risk Tolerance Jamie - Aggressive Claire - Moderate Estate and Income Tax Information Jamie and Claire each have a basic will, written after their first child was born. They have done no other estate planning. They would like their assets to be split equally between their children after the death of the surviving spouse. They are in the 24% federal marginal income tax bracket and 4.5% state income tax bracket. Dalton Education, LLC @ 2019\fJackson Comprehensive Case Jamie and Claire Jackson Statement of Financial Position As of December 31, Last Year ASSETS CURRENT LIABILITIES Cash/Cash Equivalents Credit Card Debt 2 $25,000 Checking (JTWROS) $ 800 Savings (JTWROS) $7,000 TOTAL CURRENT LIABILITIES $25,000 Money Markets (JTWROS) $21.800 Total $29,600 LONG-TERM LIABILITIES Mortgage (Residence) 3 $175,446 Invested Assets Vehicle Loan #1 4 $ 12,877 Stock Portfolio (JTWROS) $ 45,692 Vehicle Loan #2 5 $ 18,857 Equity Growth Mutual Funds (JTWROS) ' $ 7,500 Life Insurance Cash Value (H) $ 11,080 TOTAL LONG-TERM LIABILITIES $207,180 Bonds (JTWROS) $ 5.169 Total $ 69,441 Retirement Plan Assets TOTAL LIABILITIES $232,180 401(k) ' (H) $101,000 401(k) ' (W) $ 81,000 IRA ' (H) $ 29.000 Total $211,000 Use Assets Residence (JTWROS) $260,000 Vehicle #1 (JTWROS) $ 18,300 Vehicle #2 (JTWROS) $ 21.800 NET WORTH $377,961 Total $300,100 TOTAL LIABILITIES AND TOTAL ASSETS $610,141 NET WORTH $610,141 H =Husband W = Wife JTWROS = Joint Tenants with Right of Survivorship See Investment Portfolio Information. Assets presented at fair market value (FMV). 2 Average credit card interest rate is 18%. 3Purchase price: $220,000, four years ago. Original Mortgage: $210,000, 15-Year at 7.75%. Loan information: $19,750, 5-year note at 6.25%, taken out two years ago. Loan information: $22,400, 5-year note at 7.25%, taken out last year.Jamie and Claire Jackson Monthly and Yearly Budget Current Year Monthly Yearly Liabilities Mortgage payment $1,976 $23,712 Real estate taxes $ 185 $ 2,220 Automobile loan #1 384 $ 4,608 Automobile loan #2 $ 446 $ 5,352 Charge accounts $ 508 $ 6.096 Total Liabilities $3,499 $41,988 Transportation $300 $3,600 Insurance: Life insurance $ 284 $ 3,408 Disability income $ 130 $ 1,560 Auto insurance $ 117 $ 1,404 Homeowners insurance $ 175 $ 2,100 Total Insurance $ 706 $ 8,472 Charitable Contributions $ 100 $ 1,200 Household Expenses $1,400 $16,800 Medical $150 $1,800 Children $325 $3,900 Clothing/Grooming $425 $5,100 Recreation $1,558 $18,696 Gifts $250 $3,000 Miscellaneous $380 $4,560 TOTAL $9,093 $109,116 Dalton Education, LLC @ 2019 6