15. Craig receives a pension income of $2200 per month. He lives in a payment is $688 per month. The common fees associated with the condominium are $350 per month. He also receives a bi-monthly electricity bill for $120 and a quarterly water bill for $96. On average, what percent of his income, does Craig spend on monthly accommodations expenses? Round your answer to the nearest percent. 51% a. b. 49% 55% d. 53% C.

15. Craig receives a pension income of $2200 per month. He lives in a payment is $688 per month. The common fees associated with the condominium are $350 per month. He also receives a bi-monthly electricity bill for $120 and a quarterly water bill for $96. On average, what percent of his income, does Craig spend on monthly accommodations expenses? Round your answer to the nearest percent. 51% a. b. 49% 55% d. 53% C.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Find her monthly cost for all the expenses.
Fully furnished accommodation with monthly rent of $5,000. Ms Tan contributed a total rent of $6,000 in the year 2019, with the rest paid for by the company. Calculate the accommodation benefit.
1. Jason and Coretta agreed to pay $559,000 for a four-bedroom colonial home with a $70,000 down payment. They have a 30-year mortgage at a fixed rate of 6.00%.How much is their monthly payment? Monthly payment $ Complete the table for the breakdown of the first payment. Portion to --- Payment number 1 Interest $_______________ Principal $______________ Balance of loan outstanding $________________________
Dan is 65 and is retiring this year. He currently has $1 million in his account. Assume his life expectancy is 95 and the current interest rate is 9%. Dan wants to use up all the money before he dies. How much should he withdraw at the beginning of each month to cover his daily living expenses? A. $89,299.40 B. $7,986.33 C. $7,441.62 D. $8,046.23
Ben and Carla Covington plan to buy a condominium. They will obtain a $224,000, 30-year mortgage at 7.0 percent. Their annual property taxes are expected to be $2,000. Property insurance is $520 a year, and the condo association fee is $240 a month. Based on these items, determine the total monthly housing payment for the Covingtons. Use Exhibit 7-7. (Round your intermediate calculations and final answer to 2 decimal places.) Total monthly housing payment
Assume that the prescribed rate for each quarter last year was 4%. Gerry received a loan from his employer of $60,000 at 2%, which he put towards a rental property he purchased for $120,000. He paid the balance in cash. What was his taxable benefit last year as a result of the loan that he obtained from his employer? a) $0 b) $600 c) $1,200 d) $2,400 Alan Peterson made a $2,000 RRSP contribution this year, and his marginal tax rate is 29%. Next year, Alan expects to get a significant raise, such that his marginal tax rate will increase to 43%. The Income Tax Act allows him to deduct his RRSP contribution this year, or to carry the deduction forward to future years. When should he claim the deduction to optimize the tax benefits? a) He should claim the deduction this year. b) He should claim the deduction next year. c) It does not matter when he claims the deduction because it will result in the same tax reduction in either year. d) He should split the deduction between his tax returns…
son.7
Problem #3 Natasha, age 62, purchases an annuity for $43,200. Natasha will receive $400 per month for the rest of her life. The expected return multiple is 22.5. (this factor is from Table 3-1, page 3-21) Question: At age 65, Natasha may exclude what amount from income?
Bob has saved $555 each month for the last 3 years to make a down payment on a house. The account earned an interest rate of .38 percent per month. How much money is in Bob's account? Multiple Choice: $21,367.73 $20,904.94 $20,630.91 $19,980.00 $20,438.70
The annual insurance premium on Maria's home is $1,958 and the annual property tax is $1,432. If her monthly principal and interest payment is $1,613, find the adjusted monthly payment including principal, interest, taxes, and insurance (PITI). PITI= $ (Round to the nearest cent as needed.)
12.1 pg. 219-220 Find the monthly payment for each loan below. Remember to assume monthly compounding. 12. Frankie purchased a house for $185,000. He put 20% of the purchase down as a down payment. He financed the house for 4.25% for 15 years. The annual taxes are $1250, and the insurance is $1056. What is his monthly principal, interest, tax, and insurance (PITI) mortgage payment?

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