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Accounting Henry makes $13.67/hr. at his job and he normally works 43 hours per week. His expenses each month are $940/month for rent, $529.26/month for utilities, and $410/month for food and clothing. He wants to buy a car, but the payments are $382.74/month. If Henry pays 15% of his income to taxes and insurance, can he afford this new car? Give your answer as the amount of money left after the car payment is added or give a negative number of the money he earns is not enough. Assume a month is 4 weeks. Round to the nearest cent.

3. What house value can Betty afford? Betty's annual income is $90,000 and she has monthly credit payments of $500. She is looking for a house financed by 30 year 6% mortgage with 20% down payment. Property tax and insurance on the home is expected to be $300 per month. Calculate the value of the house she can afford.

Financial accounting

K Estimating the Opportunity Cost. Julia brings home $1,790 per month after taxes Julia's rent is $366 per month, her utilities are 597 per month, and her car payment is $260 per month. Julia is currently paying $231 per month to her orthodontist for her braces Julia's groceries cost $30 per week and she estimates her other expenses to be $167 per month As a result, she has $517 left each month to put toward savings to reach her financial goals Julia is considering trading in her car for a new one Her new car payment will be $348 per month, and her insurance cost will increase by $57 per month Julia determines that her other car-related expenses (gas, oll) will stay about the same. What is the opportunity cost if Julia purchases the new car? The opportunity cost if Julia purchases the new car is 5 (Round to the nearest dollar)

Starting on the day Kelly was born, her mother has invested $50 at the beginning of every month in a savings account that earns 2.20% compounded monthly. a. How much did Kelly have in this account on her 22nd birthday? Assume that there was no deposit on that day.   b. What was her mother's total investment?   c. How much interest did the investment earn?   How much should Diana's dad invest into a savings account today, to be able to pay for Diana's rent for the next five years if rent is $950 payable at the beginning of each month? The savings account earns 3.75% compounded monthly.

Timothy Mother Ms. Parker find out her Monthly Rent is $496.00 every month but she owes $13,842.00 but she gonna got $6,000 save up in the bank how much more she post to take out to add up to that amount?

6) Susan is looking to purchase her first home five years from today. The house costs $1,550,000. She will have to make a down payment of 10% of this amount and plans to take a loan from the bank for the difference. Bank charges are approximately 15% of the loan amount. She plans to start saving from today to cover both the down payment and the bank charges. a. How much will she need to save to cover both the down payment and bank charges? b. If she currently has $195,000 in her account and will make no further deposits over the next five years, what rate of interest must she earn on this account in order to achieve the savings target calculated in part (a) above?

How much should Bianca's dad invest into a savings account today, to be able to pay for Bianca's rent for the next two years if rent is $850 payable at the beginning of each month? The savings account earns 2.50% compounded monthly     Courtney set up a savings fund for his son's education so that he would be able to withdraw $1,600 at the beginning of every month for the next 4 years. The fund earns 4.89% compounded quarterly. a. What amount should he deposit today to allow for the $1,600 periodic withdrawals? $57,837.41 $69,654.42 $69,937.11 $58,544.47 b. How much interest would he earn in this investment? $69,937.11 $6,862.89 $76,800.00 $7,145.58

11. Can I afford this home? - Part 1 Can Valerie and Shen afford this home using the monthly income loan criterion? Next week, your friends Valerie and Shen want to apply to the Tenth National Bank for a mortgage loan. They are considering the purchase of a home that is expected to cost $155,000. Given your knowledge of personal finance, they've asked for your help in completing the Home Affordability Worksheet that follows. To assist in the preparation of the worksheet, Valerie and Shen also collected the following information: • Their financial records report a combined gross before-tax annual income of $85,000 and current (premortgage) installment loan, credit card, and car loan debt of $1,240 per month. • Their property taxes and homeowner's insurance policy are expected to cost $3,488 per year. • Their best estimate of the interest rate on their mortgage is 7.5%, and they are interested in obtaining a 15-year loan. They have accumulated savings of $38,500 that can be used to…

Using the time value of money Helen wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $31,000 (if she needs more, she will work odd jobs). Helen believes she can invest her savings at 10% until she depletes her funds. Requirements How much money does Helen need now to fund her travels? After speaking with a number of banks, Helen learns she will only be able to invest her funds at 6°/0. How much does she need now to fund her travels?

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The parents of a newborn want to start a savings account for their daughter. They would like to have $20,000 in the account 18 years from now. How much money do they need to invest now in an account that pays 3.5% interest compounded daily, so that they reach their goal?* $16,052.16 $10,652.16 $9,652.16

What is the amount of Laura’s monthly cash outflows if she chooses to rent the apartment by her herself? Use the rent amount for the one bedroom apartment to complete her budget?

Linda wants to buy a new car in a few years. She sets a goal to have $43,950 in her savings account to buy a car. Linda plans to save money for 5 years by making monthly deposits to a saving account at APR 2.5% compounded monthly. Round answer to two decimal places a. In order for Linda to reach her saving goal. How much will Linda need to save each money b. Overall Linda contributed how much of her own money into saving account?

Heather borrowed $4700 on her credit card to purchase new furniture. Find the monthly interest charges, which are 1.8% per month on the unpaid balance. Find the interest charges if she moves the debt to a credit card charging 0.7% per month on the unpaid balance. What are the interest charges at 1.8% a month? What are the interest charges at 0.7% a month? What are the savings that using the 0.7% card brings over the 1.8% card?

6. Genesus wants to buy a car. Her monthly income is $800, and she already has a credit card payment of $50 per month. Based on the debt to income ratio formula, how much in additional (extra) monthly payments can she afford?

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QUESTION 1 Tiffany, a self-employed dentist, currently earns $100,000 per year. Tiffany has always been a self proclaimed saver, and saves 25% per year of her Schedule C net income. Assume Tiffany paid $13,000 in Social Security taxes. Tiffany plans to pay off her home mortgage at retirement and live debt free. She currently spends $25,000 per year on her mortgage. What do you expect Tiffany's wage replacement ratio to be at retirement based on the above information? 37.00%. 59.70%. 65.30%. 84.70%. T

Merita is shopping for a new car. She checked her budget, and is comfortable with a car payment of $425 per month. She has good credit and hopes to secure a 5-year loan at 3.15% interest. What is the maximum amount she should pay for a car to stay within her monthly payment amount. A: $ 23,564 B: 25,500 C: $23,250 D: $24,362

Madeline Rollins is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Madeline is living at home and works in a shoe store, earning a gross income of $960 per month. Her employer deducts a total of $170 for taxes from her monthly pay. Madeline also pays $115 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $170 per month. Calculate her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) With college loan Without college loan Debt Payments-to- Income Ratio

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A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $40,000 saved up for when she goes to college in 16 years, assuming the account earns a 4% return.

2. Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800 per quarter in an account that returns 6% interest. a. How much will be in the account when she turns 65? b. What is her total contribution to the account? How much interest did she earn?

To be able to take her dream vacation, Donna decides to save for 5 years. She opens a savings account with $600. The account pays simple interest at an annual rate of 2%. She doesn't make any more deposits.   1. How much total interest will Donna earn? 2. What will the total amount in the account be (including interest)?

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1) Betty Smith (that scoundrel Bob’s wife) wants to save $500,000 in four years. She knows that Bob isno good and is planning on leaving him. She wants to make monthly deposits into an account thatpays 5%monthly. How much should she deposit at the end of each month? For those that are curious,Betty makes money by selling poodle prints. She dips her poodle in a giant ink well and presses it ontoa canvas. Dog lovers will buy anything.