# Finance question about FV, PV, and tax

Feb 15th, 2015
RockCafe
Category:
Price: \$15 USD

Question description

- Ben Collins plans to buy a house for \$180,000. If the real estate in his area is expected to increase in value by 1 percent each year, what will its approximate value be seven years from now?

 - If you desire to have \$8,500 for a down payment for a house in four years, what amount would you need to deposit today? Assume that your money will earn 6 percent.
- Carla Lopez deposits \$3,100 a year into her retirement account. If these funds have an average earning of 7 percent over the 40 years until her retirement, what will be the value of her retirement account?

- If a person spends \$10 a week on coffee (assume \$500 a year), what would be the future value of that amount over 7 years if the funds were deposited in an account earning 3 percent?

- If you borrow \$14,000 with a 7 percent interest rate to be repaid in seven equal payments at the end of the next 7 years, what would be the amount of each payment?

- The Fram family has liabilities of \$136,000 and a net worth of \$346,000. What is the debt ratio?

- Carl Lester has liquid assets of \$3,180 and current liabilities of \$3,411. What is his current ratio?

 Benjamin Jefferson, a single adult with no dependents, has chosen to itemize deduction and arrived at the following tax information:
 Gross salary \$ 53,360 Interest earnings \$ 210 Dividend income \$ 150 One personal exemption \$ 3,700 Itemized deductions \$ 8,400 Adjustments to income \$ 1,070
What amount would Benjamin report as taxable income?

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