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- Adrian pays ₱618312 cash and the balance in 22 quarterly payments of ₱27442 for a house and lot. If money is worth 2% converted quarterly, what is the cash value of the house and lot?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…4. If a person earns P340,560 a year, find the person's salary if the person is paid weekly.
- 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?9. Penny wants to save $2500 in one year. What amount must she save from each paycheque if she is paid bi- weekly? a. $104.17 b. $96.16 c. $48.08 d. $208.33
- Vv. Mary will receive $12,000 per year for the next 10 years as royalty for her work on a finance book. What is the present value of her royalty income if the opportunity cost is 12 percent? Assume that payments come at the end of each year. O $235,855 O $75,939 O $210,585 O $67,80318) Sara accepted a bill of exchange from Sharooq for OMR6,000 at 2% for 2 months. After the due date, how much should she pay?6. When Alice and Mark's first child was one month old, and at the end of every month thereafter, they invested S80 in a Registered Education Savings Plan (RESP) that paid 6% per year, compounded monthly. Determine the amount in the RESP on the child's 18th birthday. a. $23 114.70 b. $19 177.92 c. $30 988.26 d. $27 051.48
- Question 1Mr. and Mrs. Haddad have contributed $2025.00 per six months for the last eighteen years into RRSP accounts earning 6.92 % compounded semi - annually. a) How much will Mr. and Mrs. Haddad have in total in their RRSP accounts? b) How much did the Haddad's contribute? c) How much will be interest? PMT = $IY = CY = i = n = Total in RRSP account $Total Contibution =$ Interest =$ Blank 1: Blank 2: Blank 3: Blank 4: Blank 5: Blank 6: Blank 7: Blank 8:G7. CALACULATE FREDDY S LABOUR RATE PER HOUR? IF HER MONTHLY SALARY IS 10 000.SHE GE R9000 BONUS.HER EMPLOYER CONTRIBUTE R9000 ON HER PENSION.SHE WORK FOR 9 HOURS PER DAY FROM MONDY TO FRIDAY EACH WEEK.SHE IS HAVING 28 DAYS VACATION LEAE .THERE ARE 12 PUBLIC HOLIDAY IN YEARS16. Phil's deferred annuity has accumulated interest earnings of $5,000 and a cost basis of $50,000. He takes a $6,000 withdrawal. How much of that withdrawal would be considered taxable income to him? oa. Nothing would be taxable. ob. $1,000 c. $5,000 od. $6,000