How much you owe is 30% of your FICO score. Basically shows the amount you owe on all of your accounts, how many accounts you have opened, the balances, and how much available credit you are using at the moment. The more money you owe, the less available credit you will have, which will lower your credit score. The length of your credit history is 15% of your FICO score. Possessing a long credit history will increase the chances of a better score.
| Math 103 Final Project – Parts 1, 2, and 3 | | | Math 103 Instructor: Toni Robertson December 11, 2010 Math 103 Instructor: Toni Robertson December 11, 2010 Part 1: 1a. What is the shortest loan (36 months, 48 months, 60 months or 72 months) that has a monthly payment within your $500 budget that will allow you to buy the $15,000 car? Answer: Through Bank of America, I found a rate of 2.99% for the 36, 48 and 60 month loans. We are able to put down 20% and will need to finance $12,000. The shortest loan period for the $15,000 car that would be under our $500 limit is the 36 month loan at a rate of $348.93 per month.
II. Main Point #2: Credit is important because it can often dictate what we can and can’t have. A. Subpoint: Good credit can help us with purchasing a new vehicle with a loan at a low interest rate. We can qualify for credit cards at low rates and no fees. Purchase things that otherwise we couldn’t pay with cash because of the higher cost.
H&R Block will charge a convenience fee to take the tax preparation fee out of the person’s tax refund. You don’t get your refund any sooner like you do with the RALS but you don’t have to pay for the fees that day. They are accused of targeting the working poor and minorities with these services as they promote a quicker way of getting tax refunds at the expense of the borrower. These services are charging annual interest rates of more than 100% when you add in all the fees including finance charges, administrative fees, and check processing fees. The named plaintiffs Anthony Johnson and Phyllis Robinson say H&R Block "aggressively" marketed its loans at "exorbitant triple-digit interest rates to working poor and minorities" with "finance charges, that when properly calculated in accordance with the Truth in Lending Act, often exceeded 100 percent
In the 1960’s these methods started to become a thing of the past, more people started using cash, and would later be introduced to a new form of credit. Today we have many options to make purchases. We can use a credit card,debit,or cash. There are security advantages of carrying a card instead of cash,because they are protected by your signature, and a pin number selected by you, however cash is only protected by your ability to defend it.Carrying cash for smaller purchases may be more convenient, however for a larger purchase, such as a computer or a car should not be carried. A Dunn and Bradstreet study found people
Financial Analysis * The tax rate is approximately 30% 5.618.8=29.79% 5.418.1=29.83% 5.418=30% * Based on the industry average, a sports store of similar size should be making around $21000 or 67% more profitable than Rhodes’ store. * Assuming the lots are of the same size and bear the same tax burden, if the unused lot is sold off property taxes would be reduced by $6000 at the 2008 rate. All else being equal, this would increase net profit by 6000×0.30=$1800, for a total of $14400. Profit as a percentage of sales would increase from 2.1% to 2.4%. * Of the $18400 Rhodes made in mortgage payments last year, $8000 was interest.
Write at least one paragraph. Buying an extra copier would probably be a good choice, since the amount of revenue lost almost doubles (US$17,805.50 vs. US$8,000.00) the cost of buying an extra copier. I feel confident with my answer, although there are some limitations to it. As was mentioned before, the sum of the weeks will not always add up to 1 years’ worth, so that needs to be taken into account. Also, this simulation must be run several times to find the average amount
more than renting, which seems too small a premium, given all the advantages of owning. However, ownership is also more risky. Since they can cover up to $5,923 of shortfall, if the 1998-2000 budget is exactly correct, there is considerable margin for error. Any remaining surplus is available for mortgage reduction (on the anniversary dates you can usually prepay some part of the balance) and RRSP contributions. Thus, they can buy a house in four years time, and possibly earlier.
Most banks have policies that allow exceptions for customers with good loan histories and reputations. An exception might be appropriate in this case if the loan applicant can explain how and how quickly the new equipment will increase income. The new equipment will increase depreciation expense, so at the same level of revenue the company must reduce costs by at least $184,615 (3.51%) plus the net increase in depreciation. This required expense reduction is shown below with some more-or-less reasonable assumptions. This estimate also is conservative because the cost of new equipment was not included in total assets.
A cash flow problem is when there is an insufficient amount of money to meet the end of month/year bills. A potential problem maybe overdraft, this is when more money is taken out of a bank account than is in it, when this happens it becomes overdrawn. The business owners, Sharma and Ryan need to think of the problems that they may face, using the cash flow forecast we are able to see that they have a stable net cash flow all throughout the year although they have not thought about the problems that they may face, by buying the capital equipment in full (£105,000) it shows that they have not thought much into there options, they could of spread the costs of the capital across 12 months so that that the monthly costs will be £8750.00, by doing this it will prepare the business for future problems if