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

The effective interest rate on your credit card is 35 percent. What is the equivalent nominal interest rate if interest compounds daily? (EFF)
You have an investment in which you earn a nominal interest rate of 8.44 percent compounded quarterly on your investments. What is the equivalent effective interest rate? (EFF)
Winners of the Dream a Dream Lotto draw are given the choice of receiving the winning amount divided equally over 20 years or as a lump sum cash option amount. The cash option amount is determined by
How much money will Penny Pincher have after 40 years if she invests $500 at the beginning of each month and is able to earn a rate of return of 9 percent compounded semi-annually on her investments?
Jeron invests $75 per month, at the beginning of each month, at 5 percent interest compounded weekly. How long, in years, will it take him to accumulate $5000? (N)
Sandra deposits $2500 in her savings account. How many years will it take her savings account to increase to $5000 if she is able to earn a rate of return of 4 percent interest compounded annually?
You want to know how much you must deposit today to have $5000 in five years.Indicate whether you would solve for the future value of a single sum, the present value of a single sum, the future
Juan would like to give his newly born grandson a gift of $18 000 on his eighteenth birthday. Juan would like to know what rate of return, compounded monthly, he must earn on a tax-free investment
Stacey would like to have $1 million available to her at retirement. If she makes contributions of $300 per month to a tax-free investment account for 30 years, what rate of return must she earn on
If Shazaad wants to save $40 000 for a down payment on a home in five years, assuming an interest rate of 4.5 percent compounded quarterly, how much money does he need to save each month? (PMT)
Shania would like to finance the purchase of her car. If she borrows $20 000 as a five-year loan from the bank and the bank requires her to make end of month payments of $400, what is the annual
Cheryl wants to have $2000 in spending money to take on a trip to Niagara Falls in three years. How much must she deposit now in a savings account that pays 4 percent interest compounded monthly to
Farah will receive $1550 each year for 15 years from an ordinary annuity that she has recently purchased. If she earns interest at a rate of 6.6 percent compounded annually, what is the present value
Rodney received a total of $1000 cash as graduation gifts from various relatives. He wants to invest it in a guaranteed investment certificate (GIC) so that he will have a down payment on a car when
Earl wants to know how much he will have available to spend on his trip to Belize in three years if he deposits $3000 today at an interest rate of 9 percent compounded quarterly. (FV)
You must decide between accepting a lump sum settlement and annual payments.Indicate whether you would solve for the future value of a single sum, the present value of a single sum, the future value
You received $500 as a gift for graduation and want to know how much it will be worth in three years if you deposit it in a savings account.Indicate whether you would solve for the future value of a
You plan to contribute $300 per month to your company’s retirement plan and want to know how much you will have at retirement.Indicate whether you would solve for the future value of a single sum,
What would be the number of compounding periods (n) when determining the future value of an annuity, where money is invested monthly over a five-year period?
What formula is used to determine the future value of an annuity?
What is discounting?
On the Texas Instruments BA II Plus calculator, what calculator keys do you have to press in order to access the number of compounding periods per year function?
What should you do each time before you use a financial calculator to solve a time value of money problem?
How many compounding periods per year are there when interest is compounded annually? Semi-annually? Quarterly? Monthly? Weekly? Daily?
Define interest. Define and describe simple interest and compound interest.
What is the time value of money? How is it related to opportunity costs?
Do Brittany’s goals meet the SMART goal criteria? If not, which aspects of SMART goal planning is she missing with respect to her goal of paying off her credit card? How about with respect to her
a. Did Michelle act ethically in her dealings with Michael?b. What could Michael have done to avoid some of the problems that he had incurred?c. Use the concepts of opportunity cost and SMART goal
Your best friend, Eriel (age 26), has approached you for some financial advice on goal setting. Eriel started her first job three years ago and recently received a raise. Now that she is making some
Jeevun is very security conscious. Now that he has finished school and has started his first job, he wants to make sure that he is smart with his money. In order to increase his net worth by 10
What will be the gift tax in 2015?In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000.
What are the most popular personal retirement plans?
Karen and Mike currently insure their cars with separate companies paying $700 and $900 a year. If they insure both cars with the same company, they would save 10 percent on the annual premiums. What
Examine a homeowner’s or renter’s insurance policy. What coverage does the policy include? Does the policy contain unclear conditions or wording?
What are various groups doing to curb the high costs of health care?
Assume that you are choosing an investment for your retired parents. Would you choose a bond issued by the federal government, a state or local government, or a corporation? Justify your answer.
Describe the type of fees that you would pay to purchase a load fund. What annual fees would you typically pay for your mutual fund investment?
In 2014, you gave a $12,000 gift to a friend. What is the gift tax?
In your own words, describe the time value of money concept and how it affects your investment program.
Assume you are 45 years old, want to retire in 20 years, and currently have an investment portfolio valued at $240,000 invested in technology stocks. After talking with a financial advisor, you feel
Assume you are 30-years old, single, and just beginning to invest. How can you balance, safety, risk, and growth when choosing investments. Which component do you consider the most important?
In your own words, describe each of the four components of the risk factor.
How does your age affect the type of investments you choose to obtain your financial goals?
Assume you are in the 28 percent tax bracket and purchase a 3.50 percent municipal bond. Use the formula presented in this chapter to calculate the taxable equivalent yield for this investment.
Assume you are in the 35 percent tax bracket and purchase a 3.75 percent municipal bond. Use the formula presented in this chapter to calculate the taxable equivalent yield for this investment.
In what circumstances would a $1,000 corporate bond be worth more than $1,000? In what circumstances would the corporate bond be worth less than $1,000?
Assume that three years ago you purchased a corporate bond that pays 5.8 percent. The purchase price was $1,000. What is the annual dollar amount of interest that you receive from your bond
Why should investors be concerned with asset allocation and the time their investments have to work for them?
You are considering two different corporate bonds. One is rated AAA by Standard & Poor’s and pays 4.5 percent annual interest. The other bond is rated B by Standard & Poor’s and pays 6.2
Twelve months ago, you purchased 10-year Treasury notes with a face value of $1,000. The interest rate is 2.90 percent. What is the annual dollar amount of interest you will receive each year?
Assume that you purchased a $1,000 convertible corporate bond. Also assume the bond can be converted to 38.4615 shares of the firm’s stock. What is the dollar value that the stock must reach before
What is the difference between a Treasury bill, a Treasury note, a Treasury bond, and TIPS?
Five years ago, you purchased a $1,000 corporate bond issued by General Electric. The interest rate for the bond was 4 percent. Today comparable bonds are paying 5 percent. a. What is the
In 1994, you purchased a $1,000 corporate bond issued by Boeing. At the time, the interest rate for the bond was 6 percent. Today, comparable bonds are paying 4.30 percent.a. What is the approximate
What are the risks involved when investing in state and local securities?
In your own words, describe why corporations sell corporate bonds.
What type of information about bonds is available on the Internet?
Explain the following statement: The potential return on any investment should be directly related to the risk the investor assumes.
Calculate the current price for the following bonds.Face ValueNewspaper QuotationCurrent Price$1,000103$1,00077.5
Explain what the following bond ratings mean for investors.AaaBBBCC
What is the net asset value (NAV) for a mutual fund that has assets totaling $730 million, liabilities totaling $10 million, and 24 million shares outstanding?
In the table below, indicate the typical charges for each type of mutual fund fee and when the fee is assessed.FeeTypical ChargeLoad fundNo load fundContingent deferred sales loadManagement fee12b-1
What is an expense ratio? Why is it important?
Betty and James Holloway invested $71,000 in the Financial Vision Social Responsibility fund. The management fee for this fund is 0.60 percent of the total asset value. Calculate the management fee
Describe how each of the following sources of investment information could help evaluate a mutual fund investment.Source of InformationType of InformationHow This Could HelpThe InternetProfessional
In the table below indicate how each of the key terms affects a mutual fund investment and how each would be taxed. Key TermEffect on a Mutual fund InvestmentType of TaxationIncome
What are the three assets you should review on a regular basis during retirement?
Shelly's assets include money in the checking and saving accounts, investments in stocks and mutual funds, and personal property such as furniture, appliances, an automobile, a coin collection, and
Prepare your net worth statement using the Assets - Liabilities = Net worth equation.
1. As Jamie Lee and Ross review their assets, can you tell them which will be valuable to them for income as retirement approaches?2. Jamie Lee and Ross estimate that they will have one million
Prepare a written report of personal information that would be helpful to you and your heirs. Be sure to include the location of family records, your military service file, and other important
Ted Riley owns a 2012 Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings account with $1,900 in it. He has a mutual fund worth $110,000. His
What are four major sources of retirement income?
Calculate approximately how much money an older (65+) household with an annual income of $45,000 spends on housing each year.
What are the two basic types of employer pension plans?
Using Exhibit 14-2, calculate approximately how much money the older household from Problem 4 spends on medical care.Data from problem 4Calculate approximately how much money an older (65+) household
Ruby is 25 and has a good job at a biotechnology company. She currently has $10,000 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 8
What is the major difference between a regular IRA and a Roth IRA?
Gene and Dixie, husband and wife (ages 35 and 32), both work. They have an adjusted gross income of $50,000 in 2014, and they are filing a joint income tax return. Both have an employer-provided
What might you do if your expenses during retirement are higher than you expected?
You have $100,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? How
What was the gift tax in 2014?In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000.
What are the two stages in planning your estate?
What is the total amount removed from Joshua’s estate in 2015?In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000.
List some important documents you will need to collect and organize.
What are the four basic types of wills?
How much money can they gift to their children in 2014 without any gift tax liability?Barry and his wife Mary have accumulated over $3.5 million during their 50 years of marriage. They have three
How much money can Barry and Mary gift to their grandchildren in 2014 without any gift tax liability?Barry and his wife Mary have accumulated over $3.5 million during their 50 years of marriage. They
Why should you name a guardian?
What is the total of estate removed from Barry and Mary's estate in 2014?Barry and his wife Mary have accumulated over $3.5 million during their 50 years of marriage. They have three children and
The date death for a widow was 2014. If the estate was valued at $7.5 million and the estate was taxed at 40 percent, what was the heir's tax liability?
What are the four major types of trusts?
Joe and Rachel are both retired. Married for 55 years, they have amassed an estate worth $4.4 million. The couple had no trusts or other type of tax-sheltered assets. If Joe or Rachel dies in 2014,
How will your spending patterns change during your retirement years? Compare your spending patterns with those shown in Exhibit 14-2.
What are the four major types of taxes to consider in estate planning?
Define the following types of life insurance policies.a. Group life insurance b. Credit life insurancec. Endowment life insurance
Your variable annuity charges administrative fees at an annual rate of 0.15 percent of account value. Your average account value during the year is $200,000. What is the administrative fee for the
What are the various riders in a life insurance policy?
What are the key provisions in a life insurance policy?
You are a dual income, childless family. You and your spouse have the following debts (total): mortgage, $200,000; auto loan, $10,000; credit card balance, $4,000; and other debts of $10,000.

Showing 1500 - 1600 of 2157

First
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22

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