Case summary:
Mrs. S has a flair for grooming dogs and cats. Mrs. S has been living with a roommate in an apartment near her work in order to reduce her living expenses. However, she continuously uses her credit card to make ends meet. Her personal property consists of a 2005 car, a television, a digital camera, a laptop computer, clothing and home furnishing with a total value of $7,300.
Character in this case: Mrs. S.
Adequate information:
Monthly income is $1,750.
Living expenses is $1,210.
Personal property is $7,300.
Savings are $2,000.
Student loan is $3,000.
Credit cards debt is $2,400.
To determine:
Types of
Introduction:
Present value: It is the current value of a future sum or stream of a cash flow, given specified
Future value: The value of any security or cash at a specified date in future, based on current value of that asset.
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