None 11. You have a net income of$40000/year. Your expenses includethe following:。 Rent: $800/month。 Insurance: $225/semi-annually。 Car Payment: $315/month• Car Expenses: $1000/year。 RRSP: $50/month。 Entertainment: $50/week。 Cell Phone: $75/month。 Food: $500/montha. Create a budget.b. Modify the budget to include a savingsplan of $100/week.c. You paid off your car and have decidedto buy a house. Your mortgage paymentis now $1050/month. Modify the budgetto reflect this new financial plan.

To solve this problem, we'll go through the steps of creating and modifying a budget based on the…

Answered: 11. You have a net income of…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 3R: Review the completed master budget and answer the following questions: Is Ranger Industries...

See similar textbooks

Similar questions

K For the following situation, find the average monthly expense that you would use in budgeting for the given expense. Note: Annual means once a year, and semiannual means twice a year. You own your own home and pay $1300 annually in homeowners insurance, $2200 semiannually in property tax, and $950 monthly in mortgage (house loan) payments. In addition, just to be safe, you decide to set aside $2060 per year for unexpected expenses (for example, water heater replacement, sewer clean-out, or roof repair). The average monthly expense that you would use in budgeting is $☐ (Round to the nearest cent as needed.)
This is Ben’s budget. Use his budget to determine the answer to the following question: Calculate Ben’s total net income.
This is Ben’s budget. Use his budget to determine the answer to the following question: Scenario: Suppose Ben wants to buy a house for $251,599. For a 15-year mortgage, Ben gets a 4% interest rate. Calculate his monthly payments for this 15-year mortgage, after the 20% down payment.
A7 please help......
This is Ben’s budget. Use his budget to determine the answer to the following question: Calculate Ben’s total amount of monthly expenses.
This is Ben's budget. Use his budget to determine the answer to the following question: Scenario: Suppose Ben wants to buy a house for $251,599. For a 30-year mortgage, Ben gets a 5% interest rate. Calculate his monthly payments for this 30-year mortgage, after 20% down payment. Monthly Income Monthly Expenses ITEM V AMOUNT ITEM Column1 VAMOUNT Income Source 1 $2,000.00 Rent $800.00 Cell phone $100.00 Groceries $200.00 Car payment $273.00 Auto expenses $120.00 Student loans $250.00 Credit cards $100.00 Auto Insurance $78.00 Personal care $50.00 Entertainment $100.00 Miscellaneous $50.00
This is Ben’s budget. Use his budget to determine the answer to the following question: Scenario: Suppose Ben wants to buy a house for $251,599. For a 30-year mortgage, Ben gets a 5% interest rate. Calculate his monthly payments for this 30-year mortgage, after the 20% down payment.
Based off the image below think of 1 year plan.
Question 7 This is Ben's budget. Use his budget to determine the answer to the following question: Scenario: Suppose Ben wants to buy a house for $251,599. 1. For a 15-year mortgage, Ben gets a 4%, interest rate. Calculate his monthly payments for this 15-year mortgage, after 20% down payment. Monthly Income Monthly Expenses AMOUNT Columni DAMOUNT ITEM ITEM Income Source I $2.000.00 Rent $800.00 Cell phone $100.00 Groceries $200.00 Car payment $273.00 Auto expenses $120.00 Student loans $250.00 Credit cards $100.00 Auto Insurance $78.00 Personal care $50.00 Entertainment $100.00 Miscelianeous $50.00
You have a balance of $5,000 on your credit card, which charges an interest rate of 1.3% per month. Looking at your budget, you figure you can make the following payments. Will they be enough to pay off your credit card? Month 1 3 4 7 8 Рayment $485 $550 $615 $680 $745 $810 $875 $940 ..... (Select from the drop-down menus.) The present value of your payments is the amount of the loan, so you be able to pay off the loan.
Based off the image below think of an 1 year plan give an example.
(Use Calulator or Formula Approach) After carefully going over your budget, you have determined you can afford to pay $632 per month toward a new sports car. You call up your local bank and find out that the going rate is 1 percent per month for 48 months. How much can you borrow?

SEE MORE QUESTIONS

Recommended textbooks for you

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Personal Finance

Finance

ISBN:

9781337669214

Author:

GARMAN

Publisher:

Cengage

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Personal Finance

Finance

ISBN:

9781337669214

Author:

GARMAN

Publisher:

Cengage

SEE MORE TEXTBOOKS