a
To determine: The categories and amount in H’s budget where they realistically might cut back $2,400.
Introduction:
Budgeting:Financial success of an individual or business depends on right choice at the right time. Budget is a model of application of these choices. A budget is planned or estimated and actual income and expenditures over period of time. In simple words, a budget is a financial plan to achieve your objectives.
A budget is required to be reconciled depending on the environment and other factors.
b
To determine: The recommendations for handling fixed and variable expenses.
Introduction:
Budgeting:financial success of an individual or business depends on right choice at the right time. Budget is a model of application of these choices. A budget is planned or estimated and actual income and expenditures over period of time. In simple words a budget is a financial plan to achieve your objectives.
A budget some time required to be reconciled depending on the environment and other factors.
c
To determine: H’s income after five years with the revised data.
Introduction:
Budgeting:Budgeting:financial success of an individual or business depends on right choice at the right time. Budget is a model of application of these choices. A budget is planned or estimated and actual income and expenditures over period of time. In simple words a budget is a financial plan to achieve your objectives.
A budget some time required to be reconciled depending on the environment and other factors.
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- She wants to know the amount of money she will be receiving after 6 months What I Can Do Read and analyze the situation below then answers the question gve. Your mom asked your opinion if she will be joining the cooperative in her office. and wanted to buy something in December. The cooperative wants her to contribute P1,000 per month beginning in June 2020 which will earn 3% compounded monthly. How much will be the future value of your mom's contribution at the end of December 2020? Tasks: Tou need to prepare a report showing a cash flow diagram on the total amount Of money your mother will earn at the end of December. Teport, write a conclusion stating your opinion to help your mom to decide. At the end of your Cash Flow Diagram onclusion:arrow_forwardas à financial planner. A couple has asked you to put together an investment plan for the education of their daughter. She is a bright seven-year-old (her birthday is today), and everyone hopes she will go to university after high school in 10 years, on her 17th birthday. You estimate that today the cost of a year of university is $16,500, including the cost of tuition, books, accommodation, food, and clothing. You forecast that the annual inflation rate will be 5.4%. You may assume that these costs are incurred at the start of each university year. A typical university program lasts 4 years. The effective annual interest rate is 6.65% and is nominal. a. Suppose the couple invests money on her birthday, starting today and ending one year before she starts university. How much must they invest each year to have money to send their daughter to university? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Investment per year $ b. If the couple waits 1 year,…arrow_forwardJamie Lee and Ross agree that by accomplishing their short goals, they can budget $5,000 a year towards their long-term investment goals. They are estimating that with the allocations recommended by their financial advisor, they will see an average of 7 percent on their investments. The triplets will begin college in 15 years and will need $100,000 for tuition. Using the Time Value of Money calculations, decide if Jamie Lee and Ross will be on track to reaching their long-term financial goals of having enough money from their investments to pay the triplets’ tuition.arrow_forward
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- Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning