While in college, Pam Jenkins worked part-time and was never concerned about long-term financial planning. Rather than creating a budget, she used her checkbook and savings account (which usually had a very low balance) to handle her financial needs.

After completing college, Pam began her career as a sales representative for a clothing manufacturer located in California.

After one year, her assets consist of a 2002 automobile, a television set, some electronic entertainment equipment, and clothing and other personal belongs, with a total value of about $8,200.

Life Situation

Financial Data

Single

Age 22

Starting a career

No dependents

Monthly income$2,600

Living expenses$2,180

Assets$8,200

Liabilities$3,470

Emergency fund$530

List at least three financial situations and the time value of money calculations that would be helpful to Pam in planning or making decisions?