Sharon has two liabilities: a credit card balance of $1,300 and a car loan balance of $4,800. Sharon car has a market value of $9,000. She also has a balance of $1,450 in her savings account and has stocks that are currently worth $1,050. What is Sharon's net worth? 3,000

Sharon has two liabilities: a credit card balance of $1,300 and a car loan balance of $4,800. Sharon car has a market value of $9,000. She also has a balance of $1,450 in her savings account and has stocks that are currently worth $1,050. What is Sharon's net worth? 3,000

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

See similar textbooks

Similar questions

A year after declaring bankruptcy and moving with her daughter back into her parents’ home, June Maffeo is about to get a degree in nursing. As she starts out in a new career, she also wants to begin a new life—one built on a solid financial base. June will be starting out as a full-time nurse at a salary of $52,000 a year, and she plans to continue working at a second (part-time) nursing job with an annual income of $10,500. She’ll be paying back $24,000 in bankruptcy debts and wants to be able to move into an apartment within a year and then buy a condo or house in five years. June won’t have to pay rent for the time that she lives with her parents. She also will have child care at no cost, which will continue after she and her daughter are able to move out on their own. While the living arrangement with her parents is great financially, the accommodations are “tight,” and June’s work hours interfere with her parents’ routines. Everyone agrees that one more year of this is about all…
A US firm, having prior knowledge that Russia would invade Ukraine, bought 100,000 barrels of oil from Heritage Limited , a Trinidad firm . If in January 2022, the US firm enters into a forward contract to purchase the oil at US$65 per barrel to settle in November 2022, what is the gain/loss on the contract to the US firm? The spot price of oil in November averages US$100 per barrel. a. US$35,000 loss b. US$40,000 gain c. US$40,000 loss d. US$35,000 gain
Suppose you own a mutual fund that has 10,238,011 shares outstanding. If its total assets are $38,475,020 and its liabilities are $12,214,495, find the net asset value of the fund. a. $2.15 b. $2.57 c. $3.76 d. $4.95
If the option will cost the investor an additional $10,000, should the investor purchase the option?
You drive a 4 year old truck valued at $15,000. You have a $70,000 personal automobile policy with $12,000 per-person medical payments coverage and both collision ($500 deductible) and comprehensive coverage. Your neighbor drives a five-year old SUV valued at $10,000. Your neighbor has a 25/50/15 automobile policy with $15,000 in medical payments coverage and both collision ($200 deductible) Early one morning your neighbor was driving down the street while you were driving the opposite way to drop your friend off at her house and your neighbor swerved into your lane and struck your vehicle. Below you will find the damage caused by the accident: Your Bodily Injury: $7,000 Your Friend’s Bodily Injury: $25,000 Your Car: $8,500 Neighbor’s Bodily Injury: $3,000 Neighbors Car: $9,000 Using the information above, find the following: a) How much will your policy pay for your bodily injury?
Home insurance policies may cover jewelry for $1,000 and silverware for $2,500 unless these items are covered with additional insurance. If $3,300 worth of jewelry and $2,100 worth of silverware were stolen from a family, and the policy has a deductible of $1,000, what amount of the claim would not be covered by insurance?
Bhavika Investments, a group of financial advisors and retirement planners, is providing advice on how to invest $200,000 for one of its clients in the stock market and in money market funds. Each dollar invested in the stock market gives a return of 10% and each dollar invested in money market funds gives a return of 5%. However, there is risk involved: the risk measure for each dollar invested in the stock market is 12, and the risk measure for each dollar invested in the money market is 5. The table below summarizes the information just presented. Risk measure per investment dollar Percentage return per investment dollar Stock Market 12 10% Money market 5 5% The client has stipulated an annual return of at least $14,000 on his investments in the stock market and money market. Formulate a linear programming model for this situation that will minimize the risk of investing and solve it to find out how much should be invested in each market. check_circle
Olivia was planning to replace the old car of his father when it retires after four years with a latest model of a high-end car. The new car has an estimated cost of $ 1,000,000.00 by the time the old car will be replaced with an expected amount to be sold for $ 300,000.00. She intends to make a deposit of $10,000.00 at the end of first year, the next year, and on the year after the next year. If the bank offers 8% compounded every two months, what additional payment will she made to purchase the new car? cashflow diagram and formula tq
Suppose the chamber of commerce in Pinehurst, North Carolina decided to hold a professional golf tournament at the famous Pinehurst Country Club. They would probably be able to get a TV contract from a major network. The TV revenue would be about $4 million, and they would sell 60,000 tickets at $8 apiece. The fund for prizes would be 20% of their total revenue (TV plus tickets) rounded to the nearest $10,000. The prizes would be as follows (all prizes are rounded to the nearest dollar): First prize: 18% of the total prize money Second prize: 60% of the first prize Third prize: 65% of the second prize Fourth prize: 70% of the third prize Fifth prize: 75% of the fourth prize Sixth prize: 6% of the remaining prize money Seventh prize: $900 less than sixth prize Eighth prize: $900 less than seventh prize And so on, with each subsequent prize $900 less than the previous prize. The final prize would be whatever was left over, even if it…
If you need to take out a $30,000 student loan 2 years before graduating, which loan option will result in the lowest overall cost to you: a subsidized loan with 6.7% interest for 10 years, a federal unsubsidized loan with 5.6% interest for 10 years, or a private loan with 6.0% interest and a term of 14 years? How much would you save over the other options? All payments are deferred for 6 months after graduation and the interest is capitalized.
Sarah's insurance plan includes a $1,000 annual deductible, 20% coinsurance after the deductible is met, and a $5,000 out-of-pocket maximum. Sarah has already met her deductible and incurred an additional $2,000 in covered medical expenses. How much more will Sarah need to pay if she incurs another $4,000 in covered medical expenses?
During the first quarter of 2015, Plains All American Pipeline L.P. (PAA) stock cost $50 per share and was expected to yield 5% per year in dividends, while Total SA (TOT) stock cost $50 per share and was expected to yield 6% per year in dividends.† If you invested a total of $47,000 in these stocks and expected to earn $2,515 in dividends in a year, how many shares of each stock did you purchase? PAA stock shares TOT stock shares