InstructionsIn this milestone, you will discuss the role, functions, and operational mechanics of the Federal Reserve System and explore how the Federal Reserve impacts capital markets. This milestone represents Section III of the final project. To complete this assignment, review the Milestone One Guidelines and Rubric document.I have been chosen AT&T and wrote the reasons why I choose it in the attachment. Please focus on this company to write.

Time Value of Money Personal Finance Application Your friend Sue has asked you to help her out as she is developing her financial plan. Help her come up with a plan for her finances and how she can set herself up for financial success! She has an after tax income of $48,000 and budgets $30,000 for necessary expenses. This leaves $18,000 to spend on debt and savings annually. (Assume all annuity payments are in the form of ordinary annuities.) Part A: Debt Sue has a current balance of $20,000 on her credit card. She has a minimum monthly payment of $500 and an APR of 17.25% (divide by 12 to get the monthly rate). How many months will it take Sue to pay off her credit card debt? Suppose Sue would like to purchase a new car. She believes she can spend $550 a month on a car. She has been approved for a 4.50% loan (divide by 12 for monthly rate) for 36 months. What is the maximum amount she can spend on a car as not to exceed her $550 a month budget? Part B: Savings Sue would like to save up for a down payment on a home she hopes to purchase in 5 years. If she wishes to have $20,000 saved up at the end of five years and can earn 3.5% annually in her savings account. If she would like to make equal annual deposits, what amount will her deposits need to be in order to reach her goal? Sue received $20,000 as an inheritance from her uncle. He stipulated that she save this money for her 2 children's college education. She would like to have $50,000 saved up in 10 years. What annual interest must she earn in order to reach this goal (she will make no additional deposits to this account)? Part C: Offering Advice Calculate the total annual amount of debt and savings payments Sue has planned in the scenarios above. If she has any of her $18,000 remaining after her credit card, auto loan, and savings are made offer advise on how this should be divided (make more than the minimum payments or make additional deposits to savings). Be sure to offer reasons on why she should choose to follow your advice rather than spend the cash. How does time and interest rates impact the present value of a sum of money? Submit your 3 to 4 page paper in a Word document, showing all of your calculations (attach Excel File if necessary) with a minimum of four references (at least 2 scholarly/peer reviewed).  Use terms, evidence, and concepts from class readings.