You will need to spend money to achieve most of the long-term goals you set in...
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You will need to spend money to achieve most of the long-term goals you set in your life. It could be money to pay for your education, buy a house, raise a family, travel, start a business, and so on. Because you need money to achieve your most valued long-term goals, you also need to create a savings plan as a part of your overall financial plan. Saving is not something that just happens for most people. It is the result of careful planning and controlled spending Consider Walter, who would like to save $300 per month toward the purchase of a home. Walter's income and spending in the past month are shown below. Use this information to answer the questions that follow. Walter's Income and Spending Income Spending Gross Wages $3,500 Rent Utilities Taxes (830.00) Food Interest Farned 60.00 Clothing Stock Dividends 120.00 Transportation 2,850 Net Income Loan Payments Entertainment Insurance Other 1. How much was Walter's income? 2. How much did Walter spend? 3. What change was there in Walter's savings? 4. Which types of spending could Walter adjust in the short run? Which types could be not adjust? 5. What would you recommend Walter do to reach his savings goal? $728.86 338,32 175.42 425.61 299.00 400.92 231.42 250.45 You will need to spend money to achieve most of the long-term goals you set in your life. It could be money to pay for your education, buy a house, raise a family, travel, start a business, and so on. Because you need money to achieve your most valued long-term goals, you also need to create a savings plan as a part of your overall financial plan. Saving is not something that just happens for most people. It is the result of careful planning and controlled spending Consider Walter, who would like to save $300 per month toward the purchase of a home. Walter's income and spending in the past month are shown below. Use this information to answer the questions that follow. Walter's Income and Spending Income Spending Gross Wages $3,500 Rent Utilities Taxes (830.00) Food Interest Farned 60.00 Clothing Stock Dividends 120.00 Transportation 2,850 Net Income Loan Payments Entertainment Insurance Other 1. How much was Walter's income? 2. How much did Walter spend? 3. What change was there in Walter's savings? 4. Which types of spending could Walter adjust in the short run? Which types could be not adjust? 5. What would you recommend Walter do to reach his savings goal? $728.86 338,32 175.42 425.61 299.00 400.92 231.42 250.45
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Question 1 Income Gross Wages A 350000 Taxes B 83000 Interest Earned C 6000 Stock ... View the full answer
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
Posted Date:
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