I’m trying to study for my Business course and I need some help to understand this question.
- 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?