IMG_2207

Part I: Set the Stage Living paycheck to paycheck means that you need every bit of your paycheck to meet your expenses which drains your balance back down to near $0 before your next paycheck arrives...and then you start the cycle again. As a result, you don’t have savings to fall back on, every dollar counts, and you’re faced with tough decisions on a daily basis. In this activity, you’ll experience what it’s like to live paycheck to paycheck by playing the game Spent. At the start of the game, you are faced with the following scenario: Over 14 million Americans are unemployed. Now imagine you’re one of them. Your savings are gone. You’ve lost your house. And you’re down to your last $1,000. Can you make it through the month? How do you feel about your situation? Do you think you can live 30 days with $1,000? Explain.

Please solve the following

the concept "pay yourself first". With this in mind, what is your advice to someone on paying off credit card debt and investing for their retirement? Do you feel as though they should pay off all credit card debt before investing for their retirement or is it best to start investing for retirement as soon as possible? Why? * 350 word minimum

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…

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…

Chapter 6 Practice Problem #4

Outline of the case Jessica Hernandez wanted to open a retail outlet in a mall where she could sell gadgets. As her business started to grow, she realized she would soon need to hire one or two people and that will need money to pay for their compensation. In other words, she could not grow her business without borrowing. She plans to borrow $7,600 for 2 years however she doesn't have a very good credit rating so most finance companies want to charge her a high-interest rate. She finally finds a lender that will loan her the money at 12% compounded monthly. Discussion Question: 1. How much interest will Jessica have to pay to the lender? 2. If you were Jessica, will you lend money at a higher interest rate? Why? 3. What other options are available and what should she do, aside from borrowing money. 4. Assume Hernandez has successfully managed her business for several years. List five possible reasons she may still need to borrow from time to time.

46-50 When you are planning to buy a house or property mostly you will take mortgage loans. But you may think first of the finance charge or interest that will cost you to own it and you will commit to making monthly payments. Do you think that mortgage loans will be helpful or it can be a burden because of your commitment to pay the monthly payments? Why?

Divu fiance

With the given details about the problem, who will you lend your money to? and why?   (P.S Find who should be lent money, that would benefit us)

6:28 Discussion Topic Consumers are often faced with making large purchases to satisfy life's basic needs. If your refrigerator breaks and you don't have much disposable income, you might turn to credit. Describe who benefits from a credit agreement and how. Why are businesses and institutions willing to offer you credit? Explain. Suppose a creditor offers you an agreement where the interest accrues as follows: I= Prt, where I is interest owed ($), P is the amount borrowed, r is the yearly interest rate (96), and t is time (years). What is the mathematical relationship between 1 and r? Between I and t? If you're the borrower, why are these relationships important to you?

16. You are thinking about going to graduate school to earn a master's degree, which you hope will allow you to earn more money. Which of the following is NOT an incremental cash flow associated with your decision to extend your schooling versus going into the workforce when you finish your undergraduate degree? A) the cost-of-living expenses, such as rent and food, while you are in graduate school B) the cost of tuition C) the lost income you could have earned by working rather than staying in school D) the cost of books and other supplies required for your graduate studies

pm.8

Continuing Case 15. Personal Balance Sheet Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income towards savings, which includes accumulating enough money towards the $10,500 down payment she needs to begin her dream of opening a cupcake café. Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, entertainment and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation. Use the details below to complete Jamie Lee's personal financial plan to determine her financial position. Each answer must…

2 Anna needs S100 in cash to go home for the weekend, and all she has is a credit card. Her cash advance fee is S10 and the credit card company charges a 3% fee. She decides to get a cash advance. aosa a How much will the cash advance cost her? b Given the fees that were charged, what is the true cost as a percentage of the Sl00 for Anna to get a cash advance? e Anna does not use her credit card for anything else and she pays off the $100 cash advance plus fees in six months by making payments of S19.83. Her credit card company charges 18% APR. Create an amortization schedule for her six payments. How much will Anna end up paying in interest and fees for her S100 cash advance?

3 After researching the cost of a shredder for your online business, you settle on a more expensive shredder because the credit terms are better and cash flow is a challenge for you during the summer months. If you buy a shredder for $1,399 with net 30 terms on August 22, how much do you need to pay on September 5? (Use Table 7.1) Note: Do not round intermediate calculations. Round your answer to the nearest cent. " 15 Payable amount

6:17 Finance Skipping Payments.docx Skipping Payments Mo Money, Mo Problems - The Notorious B.I.G Name: This project is based on a real life offer I got from a local bank about skipping my car payment over the holidays so that I could use that money for the winter Holiday season (presumably for shopping and gift giving and traveling). Let's pretend that we have a car loan for $25,000 at an interest rate 2.24% APR compounded monthly and this loan is a (modernly) typical seven-year loan. Use a Sheets or Excel document. Screenshot the appropriate support into this document and answer the questions in this document. OR use your algebra muscles as support if you would rather. Either way you must turn in ONE document with answers with support. A regular loan 1. What is the monthly payment to this loan situation? (we are not skipping payments yet). We are looking for an accurate answer here, exactly equal to the answer that I have. ex: $123 (no need to guess parts of a dollar (dimes and…

I just need help with part D.

The Coffee Can Accounting System In this problem you are the only owner. You are saving for a trip by putting your money into a coffee can. When it is time to take the trip, the coffee can is a little short of the cash you need for your trip. Your Grandma Smith and Grandma Jones loan the coffee can the additional cash you need for the trip. Your Grandmas do not charge any interest on the loans. After you return from your trip, you continue to put money into the coffee can from wages you earn from your summer job. You then pay your grandmas with cash from the coffee can. After paying off the loans there is some cash remaining in the coffee can, which you will use for a future trip. Use the forms in the Excel file Problem 1-1 Forms to complete this problem. Requirement 1 A. Label the accounting equation above the “T” accounts. B. You will utilize the following four accounts: Cash, Note Payable-Smith, Note Payable-Jones, and My Equity.. Label the four “T” accounts using these account…

Use estimation to select the best response. Do not calculate.If I pay off my credit card balance each month, the most important cost factor is Use the editor to format your answer

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

Financial Accounting Question Solution provide Answer please

how do i answer this