Robert owns a $187,000 town house and still has an unpaid mortgage of $119,000. In addition to his mortgage, he has the following liabilities: Liabilities Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total $ 595 527 399 Debt-to-equity ratio 994 838 Robert's net worth (not including his home) is about $24,100. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. 5,170 $ 8,523 a. What is Robert's debt-to-equity ratio? Note: Round your answer to 2 decimal places. Yes b. Has he reached the upper limit of debt obligations?

Robert owns a $187,000 town house and still has an unpaid mortgage of $119,000. In addition to his mortgage, he has the following liabilities: Liabilities Visa MasterCard Discover card Education loan Personal bank loan Auto loan Total $ 595 527 399 Debt-to-equity ratio 994 838 Robert's net worth (not including his home) is about $24,100. This equity is in mutual funds, an automobile, a coin collection, furniture, and other personal property. 5,170 $ 8,523 a. What is Robert's debt-to-equity ratio? Note: Round your answer to 2 decimal places. Yes b. Has he reached the upper limit of debt obligations?

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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Bao and Mary Jane Lee have a yearly income of $93 comma 842 and own a house worth $127 comma 900, two cars worth a total of $ 28 comma 195 and furniture worth $14 comma 085. The house has a mortgage of $85 comma 677 and they have a car loan with an outstanding balance of $5 comma 822. Utility bills, totaling $181 for this month, have not been paid. Calculate their net worth, and explain what it means.
Pepa Madrigal has operated a very successful bakery for 30 years, and has accumulated investment that earn annual interest income of $40,000. Her other income put her in the top income tax bracket for personal tax purposes. She has a son, Antonio who is 22 years old and currently has no income. Antonio's only personal tax credit is the personal tax credit. Determine the amount of federal income taxes that could be saved by transferring the interest earning investments to a trust with Antonio as the income beneficiary, assuming that the trust will be required to distribute all of its income each year.
The severson family owns a house worth $280,000, of which they still owe $113,545 on the mortgage. They also own two cars, one worth $5,200 and the other worth $15,600. They still owe $9,200 on one of the car loans. They have $2,300 in credit card debt and owe $18,200 for their daughter’s wedding. What is their net worth? A $157,555 B $162,155 C $143,245 D $300,800
Mitch and Bill are both age 75. When Mitch was 25 years old, he began depositing $1400 per year into a savings account. He made deposits for the first 10 years, at which point he was forced to stop making deposits. However, he left his money in the account, where it continued to earn interest for the next 40 years. Bill didn't start saving until he was 46 years old, but for the next 29 years he made annual deposits of $1400. Assume that both accounts earned an average annual return of 5% (compounded once a year). Complete parts (a) through (d) below. At age 75, how much money does he have in his acct?
Miller owns a personal residence with a fair market value of $195,000 and an outstanding first mortgage of $157,500. This year, Miller gets a home equity loan of $10,000 to purchase new jet skis. How much of this mortgage debt is treated as qualified residence indebtedness?$
74 01:14:02 eBook For tax purposes, a dwelling unit is a residence if the taxpayer's number of personal-use days of the unit is more than 10 days. True or False True False
Marty has weekly gross earnings of $684.20. He is married filing jointly. He lives in Tennessee, which has no State Withholding Tax. He also makes a credit union deposit of $20.00 into savings every check. Find Marty’s weekly net earnings for this pay period.
Mike and Mary Jane Lee have a yearly income of $83,427 and own a house worth $124,800, two cars worth a total of $25,290 and furniture worth $16,003. The house has a mortgage of $63,736 and the cars have outstanding loans of $2,734 each. Utility bills, totaling $208 for this month, have not been paid. Mike and Mary Jane's debt ratio is %?. Round to two decimal places.
Mm. 138.
Goerge Edward and his 80 year old mother, Elizabeth Edwards, who he lives next door to, both have bank accounts at the First National Bank of (Your Jurisdiction) Limited. George manages his mother's finances since it is difficult for her to physically go to the Bank to complete transactions (such as pay utility bills) and she is not technologically savvy. He is her only son and she has one daughter, Natalia Charles. On Monday 29th August, 2022, George went to the FNB to obtain a bank draft (cheque). One of the Bank's workers asked him about his mother and whether she was able to purchase the property that she requested the bank draft for. George became furious. He did not know about the bank draft nor about the plan to purchase any property. He tells them that everyone knows that his mother has Alzheimer's disease. He demands to know the details of what transpired and the bank worker tells him that his mother was brought in by Michael Charles, who took custody of the bank draft after…
Larry purchased an annuity from an insurance company that promises to pay him $9,000 per month for the rest of his life. Larry paid $946,080 for the annuity. Larry is in good health, and he is 72 years old. Larry received the first annuity payment of $9,000 this month. Use the expected number of payments in Exhibit 5-1 for this problem. a. How much of the first payment should Larry include in gross income? b. If Larry lives more than 15 years after purchasing the annuity, how much of each additional payment should he include in gross income? c. What are the tax consequences if Larry dies just after he receives the 100th payment?
The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution. Suzanne has $518,000 in a joint account with her husband, Ted. How much is not covered by FDIC insurance?

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