All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Ask a Question

Search
Sign In
Register

study help
business
personal finance

Questions and Answers of Personal Finance

What is a tax-free savings account (TFSA)? How can it help to reduce tax payable?
Dennis and Nancy are in their early twenties and have been married for three years. They are eager to purchase their first house, but they do not have sufficient money for a down payment. Nancy’s
Bill and Ann have the following liabilities:Mortgage ...................................... $43 500Car loan .............................................. 2 750Credit card balance
Bill and Ann have the following assets:Fair Market ValueHome ............................................ $85 000Cars .................................................. 22 000Furniture
How are net cash flows determined?
Judith has just become eligible to participate in her company’s retirement plan. Her company matches her contributions dollar for dollar. The plan averages an annual return of 12 percent interest
What formula is used when determining the present value of a single dollar amount?
What formula is used when determining the present value of a single dollar amount?
Randi Dallaire, 23, just graduated from college with a degree in marketing and landed her first job with a local advertising agency. Now that she has achieved her first milestone—graduation—she
Odell pays $8500 for a bond that pays an annual dividend of $300. The bond has a par value of $10 000. If Odell holds the bond until it matures in exactly three years’ time, what will be his
Is it legal or ethical for an insurance agent to suggest a variable life insurance policy to an 80-year-old man? Explain your answer.
Outline a personal insurance plan with the following phases:a. Identify personal, financial and property risks;b. Set goals you might achieve when obtaining needed insurance coverages; andc. Describe
What do you believe are the most important factors a person should consider when selecting housing?
Describe how advertisements, news articles, online sources, and personal observations might be used to make wiser buying decisions.
For the following main sources of personal finance information, list a specific web site, organization or person who you might contact in the future.
Listed here are the eight the main components of personal financial planning. Circle one or more areas and describe an action that you might need to take in the next few months or years. 1. Obtaining
For three of the questions in Table 1.3, write a concise and descriptive response. Practice your answers, and then present them to someone willing to give you suggestions for improving your responses
Explain how your financial situation is related to your career aspirations.
Considering the influence of finances on couple relationships, identify at least three smart financial strategies someone wanting to form a relationship and raise children should follow.
Issie is a new high school graduate. She is excited about the field of nursing, loves international travel and people. She thinks the Peace Corps would be a great adventure while she is still single
A highly rated corporate bond with 5 years left until maturity was recently quoted as selling for 103.50. The bond’s par value is $1,000, and its initial interest rate is 6.5 percent. If this bond
1. Identify seven sources of vehicle purchasing information and the type of information available from each source. 2. From all the information available, what specific information about the
Bee and Barney Mayberry have $71,500 in gross income and enough allowable deductions to itemize. Determine the best income tax form for them to use if they are filing jointly. Explain the major
You are offered $100,000 today or $300,000 in 13 years. Assuming that you can earn 8 percent on your money, which should you choose?
Your mother just received a $250,000 inheritance. If she invests her money in a diversified equity portfolio returning 8 percent per year, approximately how long will it take her to become a
Linda Baer has already saved $6,500 to buy a used vehicle. Ignoring taxes and assuming her money is invested in a money market account earning 3 percent compounded annually, how long will it take to
1. Assuming Doug has another account set aside for emergencies, how much can he withdraw on a monthly basis to supplement his retirement annuity if his investments return 5 percent annually and he
Paul just graduated from college and landed his first “real” job, which pays $33,000 a year. In 10 years, what will he need to earn to maintain the same purchasing power if inflation averages 3
Calculate the future value of $5,000 earning 5 percent after 1 year, assuming annual compounding. Now, calculate the future value of $5,000 earning 5 percent after 20 years
If another Austin Powers movie had been released in 2018 and Dr. Evil, now armed with a financial calculator, wants to hold the Earth ransom for $10,000,000, what inflation rate would Dr. Evil use to
Richard is 65 years old and about to retire. He has $500,000 saved to supplement his pension and Social Security and would like to withdraw it in equal annual dollar amounts so that nothing is left
If you deposit $3,500 today into an account earning an 8 percent annual rate of return, what will your account be worth in 35 years (assuming no further deposits)? In 40 years?
Sarah Wiggum would like to make a single investment and have $2 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah
In March 1963, Ironman was first introduced in issue number 39 of Tales of Suspense. The original price for that issue was 12 cents. By March 2018, 55 years later, the value of this comic book had
The Lees, a family of two adults and two dependent children under age 16, had a gross annual income of $68,000 for 2017. Determine their standard deduction, exemption, and child tax credit amounts,
1. Identify the stage of the life cycle that best describes Cory and Tisha today. What important financial planning issues characterize this stage? 2. Based on the issues identified in Question
Consider three investors who need to partially liquidate investments to raise cash. In this case, all investments have been held for 3 or more years. Investor A waited for a $1,500 qualified dividend
Sukeeta, a young mother, is preparing to file her 2017 income tax return. Her husband, who was tragically killed in a boating accident in the summer of 2017, always handled the tax filing. Assuming
A couple with three dependent children has an annual AGI of $238,500. Calculate the total dollar amount of personal exemptions that they can claim for the 2017 tax year.
Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of $46,250, no salary reductions for employer-provided benefits, and no itemized deduction.
Calculate the 2017 total tax for Gordon Geist, a single taxpayer with no dependents and no itemized deductions. He has an active income of $40,000, a short-term capital gain income of $4,000 from the
Aliza Grajek is a self-employed nurse with 2017 gross income of $68,000 and taxable annual income (federal and state) of $55,000 after adjustments, exemptions, and deductions. Calculate her total
Calculate the after-tax return of a 4.65 percent, 20-year, A-rated corporate bond for an investor in the 10 percent marginal tax bracket. Compare this yield to that of a 3.25 percent, 20-year,
Assuming a 1-year money market account investment at 1.5 percent (APY), a 2.5 percent inflation rate, a 25 percent marginal tax bracket, and a constant $50,000 balance, calculate the after-tax rate
You just took out a variable-interest-rate consumer loan set at 3 percent over prime. After 1 year, your rate jumps to 4 percent over prime. Treasury bills are currently paying 2 percent. What is the
1. After reviewing the earnings multiple approach and the needs approach, Cory and Tisha opt for the simpler earnings multiple approach to estimate their life insurance needs. As Cory explains,
Bill Buckely has split-limit 25/50/10 automobile liability insurance on his 2012 Subaru. Driving home from work in a snowstorm, he hit a Mercedes, slid into a guardrail, and knocked down a telephone
Jana just found out that she is going to receive an end-of-year bonus of $40,000. She is in the 25 percent marginal tax bracket. Calculate her income tax on this bonus. Now assume that instead of
Match each of the following behaviors with the appropriate bias, as discussed in the chapter. a. Wanda owns shares in Happy Clam Oil Exploration, but due to recent events, the share price is
The Gizmo, Inc has just announced year-end results as follows: Value of company assets.............................................$12,500,000 Value of company
Suppose that you are interested in purchasing a bond issued by the VPI Corporation. The bond is quoted in the Wall Street Journal as selling for 88.375. How much will you pay for the bond if you
Mason is thinking about getting married. What advice would you give him regarding how much to budget for the engagement ring, wedding, and honeymoon? Explain your rationale to him.
Grady Zebrowski, age 25, just graduated from college, accepted his first job with a $50,000 salary, and is already looking forward to retirement in 40 years. He assumes a 3 percent inflation rate and
Sedki earned $129,750 in 2017. How much did he pay in Social Security taxes? In Medicare taxes? In total FICA taxes? (Hint: Don’t forget the annual Social Security earnings cap.)
1. Assuming the deathclock.com projection is accurate, Cory is concerned about getting back as much as possible of his Social Security taxes. At what age can he retire and receive full Social
Morgan, a widow, recently passed away. The value of her assets at the time of death was $8,600,000. The cost of her funeral was $18,000, while estate administrative costs totaled $52,000. As
Determine which of the following gifts are subject to gift taxes and to what extent they need to be included in an estate. a. Grandparents gave a grandchild $24,000 for the purchase of a new
Upon her grandmother’s death, So-hyun received $100,000 to use for college expenses or for starting her family. The money is in a checking account for So-hyun to use as she chooses. How much tax
What are some of the key financial topics that should be discussed toward the beginning of a serious relationship?
Explain whether the following consumer goods are classified as good or bad debt. Explain your rationale. a. Mortgage b. Home equity line of credit to build a new patio c. Student
How do you determine whether you should refinance? Under what circumstance is mortgage refinancing most beneficial?
What is a rate modification? Differentiate between a rate modification and mortgage refinancing.
What is mortgage refinancing? Describe when it would be advantageous to refinance your mortgage.
Describe and differentiate between the costs associated with renting or buying a home.
Describe the characteristics of a variable-rate mortgage. What influences your choice between a fixed-rate and variable-rate mortgage?
Describe how the mortgage amount, the interest rate, and the amortization period affect the amount of the monthly mortgage payment.
Define and describe an amortization schedule.
What are prepayment privileges? Why are they important?
Define and differentiate between a closed mortgage and an open mortgage.
Describe the various types of mortgage payment frequencies that are available. Which mortgage payment frequencies allow you to pay off your mortgage quickly?
What is the difference between the amortization period and the mortgage term?
Describe homeowner’s insurance, and loan protection life and disability insurance.
What is the effect of prepaid property taxes and/or utility payments?
Define and describe an interest adjustment?
When do you pay GST/HST on a home purchase?
Why is it important to use the services of a lawyer when completing the purchase and sale of a home?
Which provinces charge a land transfer tax?
What is a real property report? Why is it important?
What is the purpose of an appraisal fee?
What is a home inspection? Why is it important to get a home inspection completed when you purchase a home?
Define and describe a vendor take-back mortgage. With respect to a vendor take-back mortgage, what are the incentives for the buyer and the seller?
Describe mortgage default insurance.
Define and describe a conventional mortgage.
What should you consider when determining the offer price you should make on a home that you are considering? What normally happens after you make an offer for a home?
How can online services be used to help you purchase a home?
How can a real estate broker help you? Who pays commissions when a home is sold?
What other factors are home prices dependent on?
List the criteria you should use when selecting a home.
Describe how behavioural characteristics of home buyers affect their decisions concerning their monthly mortgage payment.
Paul really wants to purchase his own condo. He currently lives in an apartment and his rent is being paid by his parents. Paul’s parents have informed him that they would not pay his mortgage
Matt has found a condominium in an area where he would enjoy living. He would need a $10000 down payment from his savings and would have to pay closing costs of $2500 to purchase the condo. His
Teresa rents her apartment for $850 per month, utilities not included. When she moved in, she paid a $700 security deposit using money from her savings account that was paying 3 percent interest,
The Taylors agreed to make monthly payments on a mortgage of $136 000 amortized over 15 years. Interest for the first three years was 8.5 percent compounded semi-annually. Determine the mortgage
Lloyd and Jean are considering purchasing a home requiring a $275 000 mortgage. The monthly payment on a mortgage amortized over 25 years at a fixed rate of 7 percent, compounded semi-annually, for
Referring to question 6, calculate the number of years to pay off the mortgage if payments are made on an accelerated biweekly basis, instead of monthly.Data from question 6:A $120000 mortgage is
A $120000 mortgage is amortized over 25 years. If interest on the mortgage is 4.5 percent compounded semi-annually, calculate the size of monthly payments made at the end of each month.
The bank has determined that, based on a TDS ratio of 40 percent and other factors, the maximum monthly mortgage payment that Ianna qualifies to make is $2214. The five-year fixed rate of interest is
Larry and Laurie have found a home and made a $325 000 offer that has been accepted. They make a down payment of 10 percent. The CMHC mortgage loan insurance premium is 3.10 percent of the mortgage
Jose and Rosa are looking for a condo. Their combined gross annual income is $72 000. The best mortgage rate offered by their bank is 3.02 percent five-year fixed rate compounded semi-annually with a
Your sister Chris and her boyfriend Doug recently announced plans to be married after graduation in May. Although you are extremely fond of both of them and want their relationship to succeed, you

Showing 900 - 1000 of 2157

First
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Last

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Company Info

Security
Copyrights
Privacy Policy
Terms & Condition
SolutionInn Fee
Scholarship

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Copyright © 2024 SolutionInn All Rights Reserved.

Get the SolutionInn - Study Help App