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Clinical Psychologist

Grand Canyon University MAT-144 assignment “Clinical Psychologist” by Steven Hughes (Nov 3, 2024). Includes grading notes and an “Income and Projection” section with behavioral health salary estimates and a monthly expense budget table.

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    GRANO CANYON U N I V E R S I T Y Clinical Psychologist James Baker MAT-144 Steven Hughes November 3, 2024 [A note about grading for this write-up : Leave section headings and questions numbers in place in your write-up. Provide a thorough answer to each question, using in-text citations as appropriate to support your response. (We suggest an average of 60-80 words per response.) A reasonable reader should not need t o ask more than one or two follow-up questions to clarify your responses or fill in missing details.] Income and Projection In this section, please answer the following questions: 1. Considering real -world expenses upon graduation, what careers in your program of study are likely to provide enough net income t o cover these expenses? Here, you may want to give a broad estimate of your expected monthly or yearly expenses, along with a broad salary 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 and the physical health issues that may arise from mental or behaviora health issues. Here are a few examples of careers in Behavioral health science and their average annual salaries: Clinical Psychology: $71,700 Counseling Psychology: $ 75.600 Expense Category Estimated Monthly Cost Rent 52,150 Utilities S450 Groceries $500 Transportation $350 Health Insurance S700 Miscellaneous S600

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    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 = $10,260 2. Under what conditions might not having enough income t o cover expenses still work out all right in the longer run? If I ' m investing in a business that isn't profitable yet. I might be spending more than I ’ m earning. Student Loans In 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 u will start paying that loan back in 4 years. Explain why it will always be the case that if your loan is subsidized your loan payment will be lower than if your loan is unsubsidized, assuming that t h e interest rate in the unsubsidized case is the same and that interest accrues for the 4 years that youTe in school. (You re welcome, but not required, to provide calculations to support your explanation.) The key difference between subsidized and u n subsidized loans lies in h o w Interest i s handled during the period o f non-payment I n a subsidized loan, the government pays the interest that accrues during the period of non-payment. In contrast, with an unsubsidized loan, the interest that accrues during the period of non-payment Is added t o the principal amount of the loan. 2. N o w consider the case that t h e interest rate for the u n subsidized loan may be lower than t h e interest rate for the subsidized loan. Explain why the loan payment amount f o r t h e unsubsidized loan may n o w end up being lower t h a n the loan payment amount for the subsidized loan. (Again, you may w a n t t o provide some calculations t o support your explanation.) 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 loan payment amount, all else being equal.

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