Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 2FPC
Victor and Maria Hernandez Look at Future Income
Throughout this book, we will present a continuing narrative about Victor and Maria Hernandez. Following is a brief description of the lives of this couple. Victor and Maria, both in their late 30s, have two children: Jacob, age 13, and Nicholas, age 15. Victor has had a long sales career with a retail appliance store in Fargo, North Dakota earning $53,000 annually. Maria community newspaper, from which they earn about $4,000 each year. What is the accumulated
- Victor and Maria regularly buy and sell a number of items on eBay, Craig’s List, and through the free community newspaper, from which they earn about $4,000 each year. What is the accumulated future value of those amounts over 20 years if the annual earnings were invested regularly and provided a 5 percent Return each year? (Hint: Use Appendix A.3.)
- What would Victor and Maria’s annual income be after 20 years if they both received an average 3 percent raise over their current $85,000 salary ($53,000 1 $32,000) every year? (Hint: Use Appendix A.1.)
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Victor and Maria Hernandez Look at Future Income
Throughout this book, we will present a continuing narrative about Victor and Maria Hernandez. Following is a brief description of the lives of this couple.Victor and Maria, both in their late 30s, have two children: Jacob, age 13, and Nicholas, age 15. Victor has had a long sales career with a retail appliance store in Fargo, North Dakota earning $55,000 annually. Maria works as a medical records assistant earning $31,000.
Victor and Maria regularly buy and sell a number of items on eBay, Craig's List, and through the free community newspaper, from which they earn about $5,000 each year. What is the accumulated future value of those annual amounts over 22 years if the annual earnings were invested regularly and provided a 5 percent return each year? (Hint: Use Appendix A-3.) Round your answer to nearest dollar. Round Future Value of Series of Equal Amounts in intermediate calculations to four decimal places
$
What would Victor and…
Victor and Maria Hernandez Look at Future Income
Throughout this book, we will present a continuingnarrative about Victor and Maria Hernandez. Followingis a brief description of the lives of this couple.Victor and Maria, both in their late 30s, have twochildren: Jacob, age 13, and Nicholas, age 15. Victor hashad a long sales career with a retail appliance store inFargo, North Dakota earning $53,000 annually. Mariaworks as a medical records assistant earning $32,000.
(a) Victor and Maria regularly buy and sell a numberof items on eBay, Craig’s List, and through the free community newspaper, from which they earn about $4,000 each year. What is the accumulated futurevalue of those amounts over 20 years if the annualearnings were invested regularly and provided a 5 percent return each year?
(b) What would Victor and Maria’s annual income be after20 years if they both received an average 3 percentraise over their current $85,000 salary ($53,000 +$32,000) every year?
Throughout this book, we will present a continuing narrative about Harry and Belinda Johnson. Following is a brief description of the lives of this couple.Harry is 28 years old and graduated five years ago with a bachelor's degree in interior design from a large Midwestern university near his hometown in Indiana. Since graduation Harry has been working in small interior design firm in Kansas City earning a salary of about $45,000.Belinda is 27, has a degree in business administration from a university on the West Coast, and has been employed in a medium-size manufacturing firm in California for about five years. Harry and Belinda both worked on their schools' student newspapers and met at a conference during their junior year in college.After all these years they met again socially in January in Kansas City, Missouri where Belinda was visiting relatives and by chance she and Harry were at the same museum. After getting reacquainted they started dating and in only a matter of months…
Chapter 1 Solutions
Personal Finance (MindTap Course List)
Ch. 1.1 - Prob. 1CCCh. 1.1 - Prob. 2CCCh. 1.1 - Prob. 3CCCh. 1.1 - Prob. 4CCCh. 1.2 - Prob. 1CCCh. 1.2 - Prob. 2CCCh. 1.2 - Prob. 3CCCh. 1.3 - Prob. 1CCCh. 1.3 - Prob. 2CCCh. 1.3 - Prob. 3CC
Ch. 1.4 - Prob. 1CCCh. 1.4 - Prob. 2CCCh. 1.4 - Prob. 3CCCh. 1.5 - Prob. 1CCCh. 1.5 - Prob. 2CCCh. 1.5 - Prob. 3CCCh. 1.5 - Prob. 4CCCh. 1.6 - Prob. 1CCCh. 1.6 - Prob. 2CCCh. 1.6 - Prob. 3CCCh. 1.6 - Prob. 4CCCh. 1 - Real Income. Joshua Vermier of Sacramento,...Ch. 1 - Prob. 2DTMCh. 1 - Prob. 3DTMCh. 1 - Prob. 4DTMCh. 1 - Using the present and future value tables in...Ch. 1 - Inflation. Laureen Mauers salary a year ago was...Ch. 1 - Prob. 7DTMCh. 1 - Prob. 8DTMCh. 1 - Prob. 9DTMCh. 1 - Prob. 1FPCCh. 1 - Victor and Maria Hernandez Look at Future Income...Ch. 1 - Prob. 3FPCCh. 1 - Prob. 4FPCCh. 1 - Prob. 5FPCCh. 1 - Prob. 1BYOPFMCh. 1 - Prob. 3BYOPFMCh. 1 - Prob. 4BYOPFMCh. 1 - Present Value of a Lump Sum. Complete Worksheet 4:...Ch. 1 - Prob. 6BYOPFM
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