Monthly, Val's net earnings are $4,500, and expenses are $4,000. How much should Val have in savings for a 3-month emergency fund?

Q: Angela's monthly disposable income is ​$1,749. She has monthly expenses of ​$1,548 ​(including…

A: Savings refers to portion of disposable income left after payment of all expenses or liabilities.

Q: Purchasing Additional Insurance. Nancy is a widow with two teenage children. Nancy's gross income is…

A: Additional insurance coverage refers to the policy of the original amount to be endorsed which…

Q: Kevin has cash in a savings account totaling $9150, and his monthly expenses are $3050What is his…

A: Emergency Fund RatioThe emergency fund ratio is a financial metric that indicates how many months'…

Q: Based on the information above, how much should Sonny have in an emergency fund?

A: Emergency Fund An individual need emergency fund due to unexpected situation which are arised in his…

Q: Mr. Larsen's will directed that $209,000 be invested to establish a perpetuity making payments at…

A: Investment amount = $209000 Let the monthly payment = M r = 6% per annum = 0.5% per month Investment…

Q: Mia will retire 10 years from now and wants to establish a fund today that will pay $48,000 cash at…

A: Deposited amount refers to the amount which is kept aside for investing in a fund for receiving the…

Q: At the end of one year, Angelique had $8,456 in her HSA. This year, she has used 75% of that amount…

A: The savings amount which is specifically maintained by individually to meet their high healthcare…

Q: A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10…

A: The value of current asset for the future date based on the growing interest will be known as the…

Q: (b) Daniel deposits $5,000 into a fund at the end of each month in the coming five years. The fund…

A: Given information : Periodic investment  5000 Time period (years) 5.00 Interest rate 6.00%…

Q: For 22 years, Janet saved $250 at the beginning of every month in a fund that earned 4.25%…

A: The future value of the annuity due is the future worth of a cash flow series received or paid at…

Q: Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months worth…

A: Realized income = $2085.44 Fixed expenses = 30%   Savings: It represents the money left over after…

Q: Estimating Savings. Angela's monthly disposable income is $2,063. She has monthly expenses of $1,774…

A: To calculate how much Angela can expect to save in the next 12 months, we need to consider her…

Q: Lisa invested $5000 in a fund for 5 years and was paid simple interest. The total interest that she…

A: P = $5000 T = 5 SI = $1000 Where, P = Principal T = Time (No. of years) SI = Simple Interest

Q: Ann deposits 10,000 into a fund earning an annual simple interest rate of 6%. Mike deposits X into…

A: Ann deposit (P) = 10,000 Interest rate (r) = 0.06   Mike deposit (X) = ? Interest rate (r1) = 0.08…

Q: a parent on the day of the child is born wishes to detrmine what lump sum would have to be paid into…

A: An annuity is a contract between you and an insurance company in which you make a lump-sum payment…

Q: Sam has $6,596.43 in her bank account. Sam wants to know how much per month she must contribute to…

A: We need to rearrange formula below and solve for PMT (periodic payment). In the formula below:FV =…

Q: Your fixed expenses are $834.02/month. You save 5 months' worth in an emergency fund over a year's…

A: Fixed Expenses = $834.02 per months Emergency saving worth months = 5 months Number of month in a…

Q: ​Angela's monthly disposable income is ​$3,188. She has monthly expenses of ​$2,869 ​(including…

A: A simple definition of cash flow is the statement that discloses the changes in cash position…

Q: Helen contributed $500 at the end of every month for the past 5 years into an RRSP account, earning…

A: Annuity means series of no. of finite payments which are same in size and made in equal intervals.…

Q: Emile has deposited $100 at the start of each month to a savings fund for the last 3 ½ years. If the…

A: Monthly deposit = $ 100 Period = 3.50 Years = 3.5*12 = 42 Months Interest rate = 8% Quarterly…

Q: Ana Maria's family would need $33,500 for annual living expenses if she should pass away. Her…

A: Given: Annual living expense = $35500 Earnings of husband = $15100 Additional yearly income = $12000…

Q: Samantha spends $120 per month on lottery scratchers. She decides to invest that amount each month…

A: Information Provided: Payment = $120 Annual Interest rate = 6.7$ Total principal value = (120*12) =…

Q: Mina, who is single, would like to contribute $6,500 to her Roth IRA. Her AGI is $144,000 What is…

A: Roth IRA is a scheme for contribution into retirement account by the citizens of the United States…

Q: Brenda Young desires to have $16,500 eight years from now for her daughter’s college fund. If she…

A: Data given: FV= $16500 n=8 years r=12% (compounded annually) Required: what amount should she…

Q: What is Bianca's balance right after her last contribution?

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: much

A: Formula to calculate future value is: FV = PV(1+r)^n Where FV is the future value, r is the rate of…

Q: Jeff wishes to accumulate $7,250 in 7 years. Use the appropriate formula to find the sinking fund…

A: A fund that is created to repay a debt or replacement of an asset by putting an equal sum of amount…

Q: 16. Madison purchased a new car for $29,000. She was allowed $3,000 for her trade in and financed…

A: In the given question we are required to calculate monthly payment paid by madison for the purchase…

Q: Rick deposited $3,050 into an account 9 years ago for an emergency fund. Today, that account is…

A: Initial deposit (I) = $3,050 Value today (T) = $3,950 Period (p) = 9 Years Rate of return (r) = ?…

Q: Since the birth of her granddaughter, 19 years ago, Holly has deposited $150 at the beginning of…

A: Given, The monthly deposit is $150. Interest is 3.25% for first 7 years and 3.75% for the next 12…

Q: By the condition of a will, the sum of P 20,000 is left to a girl to be held in trust fund by her…

A: Time will tell worth of cash changes as it complete long duration of Investement. it will tell value…

Q: Ed and Marta are paid $2,440 after taxes every month. Monthly expenses include ​$860 on housing and​…

A: Savings ratio shows the proportion/ratio of savings to the respective income.

Q: Patrick's monthly take-home pay is $5,000. His net worth is $125,000. He estimated that he would…

A: Disability benefits are monetary support provided by the government to individuals who are unable to…

Q: Stella has $3,000,000 in her investment fund. She wishes to withdraw $338,868 at the end of each of…

A: In the given question, the amount to be invested today is the present value of a series of…

Q: a. What was the accumulated value of the RESP at the end of 8 years? $0.00 Round to the nearest cent…

A: Future Value: It represents the future worth of the present sum of the amount for a period of time.…

Q: If the Potinsky household spends $27,600 annually on all living expenses and long-term debt,…

A: Funds are necessary to meet the daily expenses. It is also important to maintain minimum amount for…

Q: When Xian was born, his father Brian deposited a sum of money for the college education of Xian.…

A: Present Value = Future Value x 11+in

Q: Janet borrows $3800 from a credit card company at 24.5% annually for 3 years. Determine Janet's…

A: Credit cards are used by the common person for buying and selling things but the cost of credit is…

Q: Suppose Gretchen's health insurance has a $500 annual deductible. Gretchen is responsible for 20…

A: A copay (or copayment) is a one-time cost that you pay when you see your doctor or fill a…

Q: Determine when the balance will be below $75,000. Determine when the balance will be paid off.…

A: Formulae Po=p(1−(1+r/12)^-m)/(r/12) P0 = Remaining loan p = Monthly payment r = Interest rate m =…

Q: The Pithybottoms want to make a donation to set up a scholarship trust fund at Hinose College. The…

A: When the cash flow are regular and for an indefinite time period, the cash flow is knows as…