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FinanceQ&A LibraryActivity Worksheet #5 (Chapter 5)Name1. What should you do if your ATM or debit card is lost or stolen? Why2.When might it be appropriate for you to save via a CD versus a money market account?3. Caryn Thorton age 18, recently received an inheritance of $50,000 from her grandmother'sestate. She plans to use the money for the down payment on a home in ten years when shefinishes her education. Right now the funds are in a savings account paying 1%. How muchwould she have in ten years if instead she purchased a ten-year CD paying 4%?4. Twins Kathy and Mary are both age 25. Beginning at age 25, Barbara invests $2,000 per yearfor 10 years and then never sets aside another penny. Mary waits 10 years and then invests$2,000 per year for the next 30 years. Assuming they both earn 5%, how much will each twinhave at age 65?5. You want to create a retirement account so you can retire at age 65 (you are now 25). Youwould like the account to grow to $1M. The investment can earn 10%/year. How much do youneed to place in the account each year?6. Andy has a checking account with AGCU. Illustrated below are his check register log and bankstatement. Reconcile the checking account and answer the following questions?a. What is the total amount of the outstanding check(s)?b. What are the outstanding entries listed on the bank statement and not in the checkbooklog?Checkbook LogBank StatementBALANCEDATEACTIVITYAMOUNTBALANCEDATEENTRYAMOUNT11/211/411/911/1211/1311/1311/1511/2311/2711/2811/2811/111/311/1211/12412.66412.6617.46Debit Card POS Transaction17.46395.20Debit Card: CVS395.20850.00Check #22135.00360.20Payday1245.20850.0084.56DIRECT DEP1210.20Debit Card: Walmart1160.64Debit Card POS Transaction11/1211/1311/2884.561125.64Suddenlink80.301080.34Pine RidgeACH withdrawal: Suddenlink80.301045.34740.00340.34ACH withdrawal: Pine Ridge Apt240.00580.34740.00305.34DepositDebit Card: SearsDebit Card :POS Transaction68.87236.4768.87511.4742.00194.47Debit Card: PaneraDebit Card POS Transaction42.00469.47Check # 221434.47Deposit240.0035.00434.47ATM WithdrawalService Charge100.00334.47Check #22427.35407.121004.50329.97ATM307.12Interest0.75330.72Question

Asked Nov 25, 2019

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