when automatic payments would make the value of the account zero.monthly payments and stops making deposits to the account. Use a table to findIn Exercises 9-14, each person uses the given bank account to make automatic9.Charles has $1600 dollars in his account and makes automatic $400 monthlypayments on a utility bill.10. Lena has $2800 dollars in her account and makes automatic $700 monthly paymentson a cell phone bill.11. Malcolm has $3600 dollars in his account and makes automatic $600 monthlymortgage payments.ming Company

No Interest Rate Inputs to Question 1 Deposit in account = 1600 Monthly Payments = 400 Future Value…

Answered: when automatic payments would make the…

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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D Faith Brooks, a 28-year-old college graduate, never took a personal finance class. She pays her bills on time, has managed to save a little in a mutual fund, and (with the help of an inheritance) managed a down payment on a condominium. But Faith worries about her financial situation. Using the following information, Visa bill Stocks $352 Checking account $823 $5,500 Quarterly auto insurance (not due) $439 MasterCard bill $247 Inherited coin collection $3,240 Monthly paycheck, net $2,398 Condominium Annual medical expenses $264 Food, monthly Mortgage payment, monthly $530 Auto $64,900 $227 $9,100 Temple Mutual Fund $2,098 401(k) retirement account $4,498 Car payment, monthly $267 Furnishings Mortgage outstanding Auto loan outstanding Total monthly utilities $275 Other personal property Savings account $2,299 Other expenses, monthly $5,800 $50,200 $4,226 $7.900 $147 Clothing expense, monthly $45 prepare a personal income statement for the year, that follows a similar structure…
4. Lily starts her own bank, called BOL. As owner, Lily puts in $100 of her own money. BOL then borrows $300 in a long-term loan from Lily's roommate, accepts $850 in demand deposits from her neighbors, buys $400 of corporate bonds, lends $600 to local businesses to finance new investments, and keeps the remainder of the bank's assets as reserves at the Fed. a. Fill in blanks in the balanced sheet of BOL: Assets Reserves $ Loans $ Securities $ Total $ Liabilities and Owners' equity Deposits $ Debt $ Capital (Owners' equity) $ Total $ b. Calculate BOL's leverage ratio. Interpret the ratio. c. Suppose the bank's asset value increases by 8%, calculate for the percentage increase in the capital value. d. Suppose the bank's asset value decreases by 8%, calculate for the percentage decrease in the capital value.
Ralph has two accounts with South Trust National Bank. Over the summer, he mows lawns and deposits his earnings weekly into his savings account. Ralph also eats out every day and uses the money in his checking account to pay for his meals. Besides these two transactions, he does not deposit or withdraw funds from either of these accounts.The amount in his savings account over time is represented in the table below. He spends$50 on food each week, and after three weeks, he has $1,600 in his checking account. Ralph Saving Account Weeks Total Amount 0 2 700 6 1100 12 1700 Part A How much money was in his saving account initially (at week zero)? Show how you determine your answer. Part B Create an equation to model Ralph’s savings account and create another equation to model Ralph’s checking account. After how many weeks will he have more money in his saving account?
Give answer with proper explanation please. Hand written solutions are strictly prohibited.
Alek has been a credit card user for several years. He always pays his monthly balance in full on time. He can therefore expect the credit card company to: a. offer him a higher credit line b. offer him a lower credit line c. remove his annual fees d. increase his annual fees e. waive charges for ATM withdrawals [ don't give chatgpt answer]
4. Stan has a bank account that earns him 0.05% each year. He wants to know how much money he will have in 5 years from a deposit made today. Inputs Process Outputs Pseudo Code: 1. Desk Check
Selecting a Bank. Julie wants to open a bank account with $43. Julie estimates that she will write 23 checks per month and use her ATM card at the home bank. She will maintain a monthly balance of $500. Which bank should Julie choose? Hillsboro Bank First National South Trust Bank Sun Coast Bank ATM charges: Home bank Free Free Free Free Other bank 5 free, then $1.15 per use $1.40 per use $1.40 per use $1.40 per use Checking: Minimum deposit $100 $28 $1 $1 Minimum balance required to avoid fees* N/A N/A $500 N/A Monthly fees $8.66 $10.11 $15.88 $3.61 Check-writing charges 15 free, then $0.85 per check 10 free, then $0.85 per check Unlimited Each check $0.43 * N/A means monthly fees apply irrespective of account balances. Based on the information given in the chart, which bank should Julie…
William has $1,250 in his savings account and $150 in his bank account. His car payment is $420, and his mortgage is $1,150. Both are due today. He just spent $125 on groceries for the month. He wants to go on Spring Break vacation with his buddies, which will cost him $97. What is his Current Ratio? Please don't provide answer in image format thank you
Marcos purchases a top-up card for his pre-paid cell phone. His remaining balance, B, can be modeled by the equation B = 45 – 0.35n, where n is the number of minutes he's talked since purchasing the card. a) How much money was on the card when he purchased it? $ Which intercept is this? Select an answer v b) How many minutes will he have talked when he runs out of money? minutes. Which intercept is this? Select an answer v c) What is the slope of this equation? What are the units on the slope? Select an answer
Suppose that with the advent of ATMs, a person withdraws money once every two days. Further, suppose this person spends $10 per day. Calculate the amount of money this person withdraws each time she goes to the bank.

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