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Life SituationFinancial DataSingleAge 22Starting a careerNo dependentsMonthly income$2,600Living expenses$2,180Assets$8,200Liabilities$3,470Emergency fund$530While 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.Question:Please answer the question in 2-3 short paragraphQ1. List at least three financial situations and the time value of money calculations that would be helpful to Pam in planning or making decisions?
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