Your friend has asked you for budgeting help. They have a combined net family income of $138,000 per year. They have no children. They live in a three-bedroom house. Their expenses are as follows: Yearly payments: Taxes: $1,200 Insurance: $3,300 Car Expenses: $1,950 Monthly payments: Utilities: $350 Phone/Internet/TV: $180 Food: $700 Clothing: $250 Office supplies: $160 Car payments: $740 Weekly payments: Mortgage: $540 Entertainment: $120 This year, they would like to contribute a total of $24,000 to their RRSP. Determine whether they can afford that contribution. If so, how much (if any) do they have left for savings? Include your calculations and give a word answer.

Your friend has asked you for budgeting help. They have a combined net family income of $138,000 per year. They have no children. They live in a three-bedroom house. Their expenses are as follows: Yearly payments: Taxes: $1,200 Insurance: $3,300 Car Expenses: $1,950 Monthly payments: Utilities: $350 Phone/Internet/TV: $180 Food: $700 Clothing: $250 Office supplies: $160 Car payments: $740 Weekly payments: Mortgage: $540 Entertainment: $120 This year, they would like to contribute a total of $24,000 to their RRSP. Determine whether they can afford that contribution. If so, how much (if any) do they have left for savings? Include your calculations and give a word answer.

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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a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?
* Your answer is incorrect. The Lahiri family rents a room in their home on Airbnb. They deposit all of the money that they earn into a vacation fund that earns 3% that is compounded annually. Their revenues for five years of their business are shown below. Year $ 1 2 3 4 5 Revenue $1,000 $850 $1,275 $1,800 $800 In year six, they did not rent their room due to extensive remodeling. How much would be in the account at the end of year 6? Click here to access the TVM Factor Table calculator. 5,114.36 Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is ±5.
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?
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that explains why Tim does or does not have enough money to pay $200 each month on his credit card. If he does have enough, give him some advice as to whether or not paying $200 each month on his credit card is a good idea. If he does not have enough, give him some advice about what he should do instead. Assume all of his taxes And expenses are as listed in #1-3, and assume that he is 20 years old and is wanting to retire at age 65. Tim will pay 5,812.5 for federal taxes 2,544.8 is the amount Tim takes home each month. Total monthly expenses= $2,15
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From age 20 to 35, Susan deposits $350 semi-annually in a savings account paying 6.12% compounded semi-annually. She then quits making deposits, and leaves the money to continue earning interest until she reaches age 65. William starts later, at age 50, and deposits $2200 semi-annually in an account paying the same rate until he reaches 65. (a) How much money will Susan have accumulated at age 65? $ (b) How much money will William have accumulated at age 65? $

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