Tommy and Frances Monsoon have been married for 20 years, ha…

Tommy and Frances Monsoon have been married for 20 years, have three children, and always file their taxes together (married filing joint). In 2018, Tommy made $75,000 as a publisher and printer for the local newspaper and Frances earned $15,000 babysitting their neighbors’ children. In addition, Tommy contributed $15,000 of his earnings to a Roth 401k and Frances put $5,000 towards a traditional IRA. What is the Monsoons’ adjusted gross income?

Casey borrows $8,000 to buy a car. The annual interest rate…

Casey borrows $8,000 to buy a car. The annual interest rate of the car loan is 7.75%. It is a 48-month loan. The bank tells him that his monthly payment (at the end of each month) is $_________. He wants to pay off the loan quicker, so he decides to make a payment of $250 each month (starting at the end of the first month). How long will it take Casey to pay off the loan (in months)?