Clinical Psychologist

Preview (2 of 5 Pages)

100%

Purchase to unlock

Loading page image...

GRANO CANYONU N I V E R S I T YClinical PsychologistJames BakerMAT-144Steven HughesNovember 3, 2024[A note about gradingfor this write-up:Leave section headings and questions numbers in place in yourwrite-up. Provide a thorough answer to each question, using in-text citations as appropriate to supportyour response. (We suggest an average of 60-80 words per response.) A reasonable reader should notneed t o ask more than one or two follow-up questions to clarify your responses or fill in missing details.]Income and ProjectionIn this section, please answer the following questions:1.Considering real-world expenses upon graduation, what careers in your program of studyare likely to provide enough net income t o cover these expenses? Here, you may want togive a broad estimate of your expected monthly or yearly expenses, along with a broadsalary estimate. Remember also to think about the effect of taxes o n your net income.Behavioral health science encompasses mental health issues, substance use disorders andthe physical health issues that may arise from mental or behaviora health issues. Here are afew examples of careers in Behavioral health science and their average annual salaries:Clinical Psychology: $71,700Counseling Psychology: $ 75.600Expense Category Estimated Monthly CostRent52,150UtilitiesS450Groceries$500Transportation$350Health InsuranceS700MiscellaneousS600

Loading page image...

Total = $ 4,750 per month or $57.COO.I estimate is that about 1896 of m y income will go towards federal, state, and local taxes.Total amount taxes = $10,2602.Under what conditions might not having enough income t o cover expenses still work out allright in the longer run?If I ' m investing in a business that isn't profitable yet. I might be spending more than I ’ mearning.Student LoansIn this section, you must address the following questions:1.Assume that you're taking a student loan of $50,000 at an interest rate of 8%, and that y o uwill start paying that loan back in 4 years. Explain why it willalwaysbe the case that if yourloan is subsidized your loan payment will be lower than if your loan is unsubsidized,assuming that t h e interest rateinthe unsubsidized case is the same and that interestaccrues for the 4 years that youTe in school. (You re welcome, but not required, to providecalculations to support your explanation.)The key difference between subsidized and u nsubsidized loans lies in h o w Interest i shandled during the period o f non-payment I n a subsidized loan, the government pays theinterest that accrues during the period of non-payment. In contrast, with an unsubsidizedloan, the interest that accrues during the period of non-payment Is added t o the principalamount of the loan.2.N o w consider the case that t h e interest rate for the u nsubsidized loan may be lower thant h e interest rate for the subsidized loan.Explain why the loan payment amount f o r t h eunsubsidized loan may n o w end up being lower t h a n the loan payment amount for thesubsidized loan.(Again, you may w a n t t o provide some calculations t o support yourexplanation.)The loan payment amount is determined by several factors, including the principal amount,t h e interest rate, and the loan term. In general, a lower interest rate results in a lower loanpayment amount, all else being equal.

Preview Mode

This document has 5 pages. Sign in to access the full document!

Report

Study Now!

Document Details

Related Documents

AP Calculus AB Scoring Guide Unit 6 Progress Check

Module 4 Matrices

MATH 1324 Homework 5 Answers

Ap progress 1 5 all 5

The Fundamental Theorem of Calculus and Definite I

AP Calculus AB Scoring Guide

Investigating the Rising Cost of MTA Transit Fare

Module 11 Geometry

AP Calculus AB Unit 5 Progress Check Scoring Guide

MATH 1324 Homework 12 Answers

Company

Explore

Study Tools