EBK PERSONAL FINANCE TAX UPDATE
EBK PERSONAL FINANCE TAX UPDATE
13th Edition
ISBN: 9780357438930
Author: FORGUE
Publisher: VST
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Chapter 1, Problem 1FPC

(a)

Summary Introduction

Case summary: Two people were making decision regarding their savings for future and also planning to start a family. As per the given information in part a, Person H earns $3000 as an interest income which is going to be continued till 20th years.

Character in the case: Person H and Person B

Adequate information: Future amount of $3000 after 10 years when inflation rate rises at 3%.

To determine: The present value after 10 years.

(b)

Summary Introduction

Case summary: Two people were making decision regarding their savings for future and also planning to start a family. As per the given information in part b, Person H and Person B are planning to have children but ended up with discussion for waiting for more 5 years as they believe to have children is expensive.

Character in the case: Person H and Person B

Adequate information: Amount of $16,000 with interest rate 3%.

To determine: The cumulative future value of $16,000 at 3% interest rate for 18 years.

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