BUS 380-PERSONAL FINANCE QUESTIONS 1. (TCO 1) Suppose Debra Betts has presented you with the follow

Price: $25.00 USD

Document Description


BUS 380-PERSONAL FINANCE QUESTIONS
1. (TCO 1) Suppose Debra Betts has presented you with the following information: She currently possesses a checking account with a balance of $850, a savings account with a balance of $3,000, a credit card balance of $300, jewelry worth $600, real estate valued at $75,000, and a mortgage on the real estate of $66,000. What is the total of Debra's assets and how could she increase her net worth? (Points : 10)
2. (TCO 2) You have recently started a new job and were presented with information related to opening a 401(k). What are the advantages of investing in a 401(k)? (Points : 10)
3. (TCO 3) Kelly Manchester wants to know what price home she can afford. Her annual gross income is $45,000. She owes $750 per month on other debts and expects her property taxes and homeowners insurance to cost $250 per month. She knows she can get a 7.0%, 30-year mortgage, so her mortgage payment factor is 6.65. She expects to make a 20% down payment. What is Michell

Written By

Studypool Tutor
BUS 380-PERSONAL FINANCE QUESTIONS1. (TCO 1) Suppose Debra Betts has presented you with the following information:She currently possesses a checking account with a balance of $850, a savingsaccount with a balance of $3,000, a credit card balance of $300, jewelry worth $600,real estate valued at $75,000, and a mortgage on the real estate of $66,000. What isthe total of Debra's assets and how could she increase her net worth? (Points : 10)2. (TCO 2) You have recently started a new job and were presented withinformation related to opening a 401(k). What are the advantages of investing in a401(k)? (Points : 10)3. (TCO 3) Kelly Manchester wants to know what price home she can afford. Herannual gross income is $45,000. She owes $750 per month on other debts andexpects her property taxes and homeowners insurance to cost $250 per month. Sheknows she can get a 7.0%, 30-year mortgage, so her mortgage payment factor is6.65. She expects to make a 20% down payment. What is Michelle's affordablehome purchase price? Assume a lender will use a 38% monthly gross incomeguideline. Round your answer to the nearest $100. (Points : 10)4. (TCO 3) What is the difference between simple and compound interest? (Points :10)5. (TCO 5) There are times when a financial crisis may occur and it is optimal to beprepared by ensuring that one's financial affairs are in order. What actions can youand others take to make sure that your financial affairs are in order? (Points : 10)6. (TCO 7) W
lock_open Buy Document

Reviews from Students

Studypool Student
"Goes above and beyond expectations !"
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1830 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors