Using the information below, determine Brian's Net Worth. Savings Account: $5,400, Checking Account: $3,000, Car Payment: $225/month for 12 months, Owns a 4-wheeler: $2,000, Riding Lawnmower: $1500, Laptop: $1,250, Rent. $650/month for 12 months, and Car Insurance: $95/month for 12 months.
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- Diana has determined the following information about her own financial situation. She has to pay a monthly rent of $1,488, her monthly expenditure on food is $596, the phone and internet bill for the month was $55, the electricity bill for the month was $60; she spends on average $316 per month on eating out. Gasoline and monthly parking costs her $159 and her personal computer is valued at $1,067. Diana's checking account is worth $2,473 and her savings account is worth $2,393. She owns her own house that has a market value of $211,983 and her car is worth $16,008, of which she still owes $6,122 to the local bank. She pays $235 per month for her car loan. She has household possessions worth $7,109 and a home sound system worth $1,717 and she has a retirement account with $31,294 in it. She has a monthly income of $5,604. She has a mortgage of $127,571 with a payment of $550 per month, an educational loan with a balance of $14,064 and payments of $279 per month, and a MasterCard credit…Becky graduated with a master degree in Personal Financial Planning. After working two years in a small financial planning firm, Becky earns $70,870 annually and saves $12,418 a year. What is her average propensity to consume? (Keep 2 decimal places)Hadiya Benzema is reviewing her assets and liabilities. What is her net worth? Assets: Cash in checking account, $1,000 Cash in savings account, $2,800 Current value of investments in U.S. savings bonds, $4,000 Current value of investments in stocks & mutual funds, $9,700 Current cash value of life insurance, $7,300 Current value accrued pension benefit, $25,000 Current value of house, $155,000 Current value of furniture and appliances, $8,000 Current value of jewelry, $600 Current value of automobile, $7,200 Liabilities: Current unpaid bills, $800 Home mortgage unpaid balance, $100,000 Auto loan unpaid balance, $3,200 Property Taxes owed, $1,000 Home improvement loan balance, $1,200
- Ted owns a car worth $40,000. Owns home worth $275,000, Checking acct with $800, Saving Acct with $1,900, mutual fund worth $110,000. Personal assets worth $90,000. He still owes $25,000 on his car and $150,000 on his home, and has balance on credit card of $1,600. What's Ted net worth?Using the following information about the family’s assets and liabilities, calculate the total assets: Checking account: $3,000 Savings account: $13,000 Credit card balance: $5,500 Utility bill: $500 Home: $320,000 Mortgage (30 years): $210,000 Car: $25,000 Car loan (60 months): $18,000 Student loan (7 years): $25,000 Household items: $15,000 Retirement account: $64,000 Other assets: $39,000 A) 464,000 B) 400,000 C) 415,000 D) 479,000Jim Lawler spends 23% of his income on housing, 10% on food, 9% on clothing, 17% on transportation, 12% on education, 8% on recreation, 6% on miscellaneous, and saves the balance. If his savings amount to $220 per month, what are his monthly earnings?
- Kristian purchased a new home for $200,000. He put down $50,000 in cash and took out a mortgage for the rest. At the time of closing, he also paid $1,000 for title insurance, $500 in recording fees, and the bank required that he place $2,500 in an escrow account for property taxes. What is the basis of the home?Construct a personal income statement for the Humperdinck family usingthe following information: salaries, $42,000; mortgage payment, $7,980;food, $2,400; interest income, $150; transportation, $1,200; dividend income, $190; automobile payment, $3,060; clothes and personal, $2,000;student loan payment, $1,700; property taxes, $1,100; utilities, $3,000;insurance, $2,100; income taxes, $9,700; and recreation and vacation,$2,000. What is the family’s disposable income?In four years of employment, John was able to save P250,000 after he had invested on purchasing a motorcycle and a life insurance. He is now considering the different investment opportunities to start accumulating wealth. In 10 years from now, John expects to start spending for his child’s education, what type of financial instrument should he invest and why?
- Mrs. Pores invested ₱150,000 in a bank that pays an 13% interest converted monthly. If her account balance today amounts to ₱168,900, approximately how many months did she invest her money? Group of answer choicesCarlos opens a dry cleaning store during the year. He invests 30,000 of his own money and borrows 60,000 from a local bank. He uses 40,000 of the loan to buy a building and the remaining 20,000 for equipment. During the first year, the store has a loss of 24,000. How much of the loss can Carlos deduct if the loan from the bank is nonrecourse? How much does Carlos have at risk at the end of the first year?For each of the following, determine the amount that should be included in gross income: a. Peyton was selected the most valuable player in the Super Bowl. In recognition of this, he was awarded an automobile with a value of 60,000. Peyton did not need the automobile, so he asked that the title be put in his parents names. b. Jacob was awarded the Nobel Peace Prize. When he was presented the check for 1,400,000, Jacob said, I do not need the money. Give it to the United Nations to use toward the goal of world peace. c. Linda won the Craig County Fair beauty pageant. She received a 10,000 scholarship that paid her 6,000 for tuition and 4,000 for meals and housing for the academic year.
