HW3_S2023 (1)

4. You deposited P1,000 in a savings account that pays 8% interest, compounded quarterly, planning to use it to finish your last year in college. Eighteen months later, you decide to go to Quezon City to become a call center agent rather than continue in school, so you close out your account. How much money will you receive? *

Ansm Audrey worked a part-time job during college to help pay for various expenses. She also set aside $200 each month and invested it into the stock market. During that time, the stock market retumed 10.6 % annually. If she did this each month for the four years she was in college, how much will her account be worth when she graduates? Enter your answer as a numerical value (no labels), rounded to the nearest dollar

B 12. Susan works part-time with an accounting firm while she completes her accounting degree. She hopes to then be offered a full-time position. She also does some waitressing to supplement her income while studying. Which of the following are deductible to Susan under s8-1?   Select one: 1 Purchase of a black skirt and white shirt as required for her waitressing job. 2 Cost of travel from home to her accounting job. 3 Cost of travel from her accounting job to her waitressing job. 4 Purchase of suits as required by her accounting firm.

Kf2  Javiar Jones - Is 39 years old. He graduated from Medical School 7 years ago and is finally done with his residency in dermatology. He is now working with a group and has an annual income of $225,000. He hopes his income increases over the years. He currently has no investments, nor retirement accounts. He has federal student loans that total $350,000. He figures that he would likely retire when he is 67 years old, but will try and have a more flexible schedule in the working years leading up to his retirement. What investment allocation/portfolio would you recommend to Javair?

Problem 1 Michelle borrows $7, 200 from her father to buy a used car. She repays him after9 months, at an annual simple interest rate of 6.2%. Find the total amount she repays.   PlEASE GIVE FULL SOLUTION

QUESTION 1 Marina had an accident with her car and the repair bill came to $900.  She didn't have any emergency fund money and no extra money in her monthly budget, so she ended up borrowing from a pay-day loan company.  As long as she can pay the loan back at the end of the 30 day period she won't be charged any interest, technically.  However, she did have to pay an $19 processing fee per $100 that she borrowed.  If she were to consider the processing fee to represent interest paid in her formula, what would she discover to be the annual interest rate she was charged on her short term loan? QUESTION 2 The end of the month has arrived and Marina was only able to save up a portion of the money she owed so far.  This means she will have to delay paying off on the remaining amount.  Besides the delayed payment fee that she is charged, she will now have to pay interest on the remaining amount until it is paid off.  The APR (annual percentage rate) is 46.5%, but the interest is…

Read the case and analyze. Identify which part of the case refers to the 5C’s of credit. Mr. Cruz is a scholar in one of the charitable organizations in the town. He is in 2nd year college and took up Bachelor of Science in Management. Even though he is receiving P10,000.00 per semester, Mr. Cruz realize that the money from his scholarship is not enough to provide his needs that is why he work as a part time worker in a computer shop as an encoder and earns P4,000.00 a month. During pandemic, Mr. Cruz was not able to earn from his sideline and was informed that his scholarship allowance will be delayed for one month. Mr. Cruz is really dedicated in enrolling; what do you think should Mr. Cruz do?

Need help with these 2 questions 6- if Jocelyns annual earnings are $72600, what is her rounded monthly pay, rounded to the nearest dollar. 8- Danya is in grade 12 and works weekends and after school as a cashier at a dollar store, earning 17.00/h. She works an average of 27 hours per week. Her average bi-weekly pay, rounded to the nearest dollar is?

Solve urgent i will rate Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now, Madeline is living at home and works in a shoe store, earning a gross income of $1,220 per month. Her employer deducts a total of $300 for taxes from her monthly pay. Madeline also pays $180 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $270 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Can she currently afford the school loan? multiple choice Yes No

(11)Bill took out a 6 year loan to buy a car. If the loan carried an annual interest rate of 3.1% and he made monthly payments of $317, how much interest did he pay? Please answer only correct with explanation. Someone give me incorrect answer. I will really upvote. Thanks

Case, Part 1: Velma, a 59-year-old minority woman who works as a teacher, contacts you about getting a loan to purchase a condominium. As you’re chatting, she indicates that she’s hoping to retire from teaching in three years. You take her financial and personal information and see that you should be able to get her the amount she needs to purchase the home, and now you need to discuss terms. You share some loan options with her and she insists that she’s only interested in an adjustable rate mortgage, because she wants the lower monthly payments to start and is convinced the interest rates will stay low or go down even further. 1. What should you share with Velma about an ARM loan given her situation? Are you obligated to help her apply for the loan she wants?

Problem 5  Joe College graduated from a university that is located three hours from the city in which he now works. A loyal alumnus and an avid football fan, Joe always buys season tickets to the football games although his Alma Mater has posted loosing records in each of the last three years. Joe sends a check for $218 to the University by July 1 of every year to cover the cost of two tickets for each of the 7 home games plus $50 for a parking permit. Joe has difficulty finding friends to accompany him to the games. However, he is adamant that he must go to the games because he has paid for the tickets. Friends insist that the cost of the tickets is a sunk cost and that the decision should be based on future costs that would be different between alternatives – going to the game and not going to the game. Friends have calculated the fuel for the 6 hour round trip costs $15 and two meals while away from home for the game can easily cost $30 or more. Write a memo to Joe outlining the…

Problem #1. Jason's uncle loaned him $26,560 to help start a landscaping business. They agreed that Jason would pay off the entire loan plus 3.24% annually compounded interest in 4 years, and that in the meantime he would make monthly deposits into a bank account to make sure that he has the amount needed when the loan comes due. The bank will pay 2.09%. (a) Find the total amount Jason will need to repay the loan. Show your work. (b) How much should each of his monthly deposits be? Show your work.

13. Moreon the time value of money The time value of money concept can be applied in various situations and is a fundamental concept underlying other financial concepts. Consider the following example of the application of this concept. Charles is a divorce attorney who practices law in New York City. He wants to join the American Divorce Lawyers Association (ADLA), a professional organization for divorce attorneys. The membership dues for the ADLA are $550 per year and must be paid at the beginning of each year. For instance, membership dues for the first year are paid today, and dues for the second year are payable one year from today. However, the ADLA also has an option for members to buy a lifetime membership today for $5,000 and never have to pay annual membership dues. Obviously, the lifetime membership isn’t a good deal if you only remain a member for a couple of years, but if you remain a member for 40 years, it’s a great deal. Suppose that the appropriate annual…