Need the following assigments to be answered please!

timer Asked: Oct 11th, 2018
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Social Choice Math is designed for anyone who has to make a decision in their life (that’s everyone). This course will improve your ability to analyze situations and make thoughtful decisions using mathematically sound techniques. We want you to leave this class with the confidence in your own ability to make decisions.

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MGF 1107 Conceptual Homework 4C Show work to receive credit. Suppose you just had your first child and you want to begin immediately putting away for his/her college tuition. Assume that college will cost a total of $160,000 for all 4 year combined and that your child will begin college at age 18. 1. How much will you need to put away each month at a rate of 4% in order to achieve that goal? 2. How much money will you have actually put into the account over the course of the 18 years? 3. How much did your investment actually earn you? 4. Do you think it was worthwhile to put the money into an investment account? Explain your answer. MGF 1107 Pre-Class Assignment 4C Read through section 4C in your book and answer the following questions. 1) Write down the Savings Plan Formula and what each of the variables in the formula stands for: 2) What is the purpose of the savings plan formula? 3) Let’s say that you invest $10,000 for 5 years and I tell you that over that time, the percentage change in your investment was 40%, while on a yearly basis, your investment grew by 7.5%. Which number is the total return and which the annual return? Give a brief definition of each. MGF 1107 Conceptual Homework 4B 1. Which is the better choice: $1000 deposited for a year: You must show your work below. a. at a rate of 5.5% compounded monthly? b. at a rate of 5.4% compounded daily? c. At a rate 4.5% compounded continuously? 2. Decide whether the statement makes sense. Explain your reasoning. Raul is planning to invest his money for one year only. He chose an account paying simple interest at 6% per year which was clearly a better deal than an account paying a 5.6% APR with interest compounded annually. MGF 1107 Conceptual Homework 4A 1. You have an annual salary of $62,000 from which they deduct 3% for medical insurance and 18% for taxes. Your rent is $1200 a month. Your water bill comes every 3 months for $123, and your light bill is $138 a month. You have a child that goes to a 30-minute piano class twice a week for $18 per session and you receive child support for that child every month in the amount of $125. Every week you put 130 miles on your car that gives you 20 miles per gallon and gas cost $2.27 per gallon. You pay a premium of $1,019 every six months for car insurance. You spend $120 a week on food. You also have a student loan that you are paying $150 on every month. and you spend $100 every 2 weeks just to treat yourself. Create a monthly budget and find your monthly cash flow. You must show work (Assume, that there are 52 weeks in a year) MGF 1107 PROJECT #3 - BUDGET Objective: This project is intended to give you practice with calculating income from investments and predicting monetary needs based on future and current expenditures. You will identify professions and locations that appeal to you so that you may begin thinking about what may affect future decisions. Make the following assumption: You will graduate this Spring and get your preferred job immediately upon graduation. Be sure to show all calculations when asked. 1. State the profession that you intend or would like to pursue and where you would like to live. Explain something about why you selected your chosen profession and desired location. 2. Research potential starting salaries and possible house prices for your choices in your desired location and provide them. Include your citations for the values and any assumptions that you are making about your choices. 3. Research what the state and federal income taxes are for the state in which you want to live. Keep in mind that not all states have a state income tax. Based on your research, what will your salary be after taxes? Show calculations. 4. Let’s assume that housing prices will remain relatively stable. You will need 20% for a down payment for your chosen house from Step 2. You plan on moving and purchasing the house in 5 years from now. How much would you need to save every month in order to have the down payment? Assume an APR of 5%. Show calculations. 5. If you put away $100 a month from after graduation until retirement (age 65) in an investment account with an APR of 3.5% how much will you have to retire on? Show calculations. Show calculations on a separate sheet. 6. Recreate the table on page 2 (showing monthly amounts) and calculate your monthly budget and cash flow based on the salary you found in Step 2. You can add or eliminate as needed. INCOME EXPENSES Salary (after tax) Trust Fund Annuities Part time work Consulting Other: Student Loans Food Housing Cable and Internet Cell Phone Car payments Other: Other: Auto Insurance Fuel Electric Total: Investments Housing down payments savings Entertainment Clothing Retirement Other: Other: Total: 7. What is your net cash flow each month? Show your calculations. 8. If your monthly cash flow is negative, explain what adjustments would make sense for you to make in your lifestyle in order to meet your monthly goals. Make sure your response is realistic. 9. What are your thoughts on your chosen profession and chosen location? Do you feel that your goals are reasonable and possible? ...
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