Suppose that with the advent of ATMs, a person withdraws money once every two days. Further, suppose this person spends $10 per day. Calculate the amount of money this person withdraws each time she goes to the bank.
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- Suppose that before ATMs and credit cards, a person goes to the bank once at the beginning of each four-day period and withdraws from her savings account all the money she needs for four days. Assume that she spends $100 per day. Calculate the amount of money this person withdraws each time she goes to the bank.It is typical for Jane to plan, monitor, and assess her financial position using cash flows over a given period, typically a month. Jane has a savings account, and her bank loans money at 6% per year while it offers short-term investment rates of 5%. Jane’s cash flows during August were as follows: Items Item Cash inflow Cash outflow Clothes $1,000 Interest received $ 450 Dining out 500 Groceries 800 Salary 4,500 Auto payment 355 Utilities 280 Mortgage 1,200 Gas 222 You are required to: Determine Jane’s total cash inflows and cash outflows. b. Determine the net cash flow for the month of August. c. If there is a shortage, what are a few options open to Jane? d. If there is a surplus, what would be a prudent strategy for her to follow?Consider the following conditions:(a) In your new job you are paid each month, instead of weekly.(b) The rate of interest on bonds and other financial assets rises.(c) An automatic teller machine (ATM) is installed next door and you have a debit card.(d) Bond prices are expected to fall.Would you decide to increase or decrease your average holding of money (i.e. cash and/orcheque deposit balances)? Which of the three motives for holding money is involved in eachcase?
- A person has some money in his/her checking account (say $100) and five transactions each of 10, 20 30, 40 and 50 dollars depositing money in the account, while five transitions each of 20, 30,40, 50 ,60 dollars are crediting out of his/her account. If the person gets 2% per day interest on his/her residual amount how you will synchronize the threads of deposit and withdrawal if all are happening at the same time. What will be the person’s account balance at the end of the day?On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year compounded annually. He withdraws ₱80 at the end of the first year, ₱90 at the end of the second year, and the remaining balance at the end of the third year. a. How much does he withdraw at the end of the third year? b. What is the net cash flow? c.How much better off, in terms of net cash flow, would he have been if he had not made the withdrawals at the ends of years one and two?On May 1, Cleveland Livingston opened a savings account thatpaid 3.5% interest at Fulton Savings Bank with a deposit of $5,000.Ten days later, he deposited $2,000. Fourteen days later, he deposited$8,000. No other deposits or withdrawals were made. Six days later,the bank calculated the daily interest.a. How much simple interest did his money earn?
- are the three ways for Maria to better manage her cash balance?Maria Luna, a 25-year-old nurse, works at a hospital that pays her every 2 weeks by direct deposit into her checking account which pays no interest and hasno minimum balance requirement. She takes home about PHP9,000 every 2 weeks or about PHP18,000 per month.She maintains a checking account in the bank that does not earn any interest income with a balance of around PHP7,500. Whenever it exceeds that amount she transfers the excess into her savings account, which currently pays 1.5% annual interest.She currently has a savings account balance of PHP85,000 and estimates that she transfers about PHP3,000 per month from her checking account into her savings account.Maria pays her bills immediately when she receives them. Her monthly bills average about PHP9,500, and her monthly cash outlays for food and transportation cost total about PHP4,500.An analysis of Maria’s bill payments indicates that on average she pays her bills 10…Complete your calculations by filling in the highlighted cells. Discuss your observations about the way cash is collected if the company needs $150,000 per month for expenses.Which of the following transactions is an example of an operating cash flow? (Mark all that apply.) 1.Paying vendors for purchases you have received from them 2.Paying your monthly interest payment to the bank 3.Paying your income taxes to the government 4.Paying dividends to your shareholders 5.Paying employees for time they have worked. Need typed answer only.Please give answer within 45 minutes
- In personal finance, we know that you should have 3 to 6 months’ worth of money set aside for emergencies, but what does it take to make sure that a business is properly liquid?Flower opened a credit card account. During the first month she purchased new cloths that totaled $1,550.00 and then put the card in a desk drawer and didn’t use it again. The structure of the minimum monthly payment is the interest charge plus an additional 3.0% of the remaining balance. If Flow only makes the minimum monthly payment, how long will it take for the remaining balance to be half the amount of her original purchases?Using Time Value of Money Calculations and formulas While she was travelling, Zainab took advantage of the convenience of cash withdrawals on her credit card since her Canadian debit card wasn’t accepted in the country she was in. According to her travel budget she withdrew $175 every day for food, activities and shopping for 21 days. When she got home, on the 21st day, she checked her credit card bill on-line and it showed that she had been charged interest already even though her payment wasn’t past due. It turns out that interest is compounded daily on cash withdrawals, from the day the cash is withdrawn If the interest rate on cash withdrawals is 28%, what was her total bill when she got home? What would be the total interest paid?
