(0.5 points) Credit is a commitment to pay for something in the future, instead of paying for it right away 2. What is a credit score? (0.5 points) Your credit score is a number that tells lenders how likely you are to make payments on time. 3. What is installment credit?
b) Which of the above items are classified as For AGI and From AGI deductions? c) How would your answers to parts (a) and (b) change if Brandy were an employee rather than self-employed and none of the above expenditures were reimbursed by her employer? 7) On February 20, 2015, Charles, who is single and age 32, establishes a traditional deductible IRA and contributes $5,500 to the account. Charles’ AGI is $66,000 in 2014 and $57,000 in 2015. Charles is an active participant in his employer’s retirement plan.
2.0 points) Compound interest. While simple interest only pays interest on the amount that was originally invested, compound interest pays interest on the amount invested plus any interest earned. 4. If you were opening a savings account with compound interest, would you prefer an account that offers annual compounding, quarterly compounding, or daily compounding? Why?
BUSN602 Midterm Exam Set 2 Click Link Below To Buy: http://hwcampus.com/shop/busn602-midterm-exam-2/ Return to Assessment List Part 1 of 1 - 100.0 Points Question 1 of 20 5.0 Points Jill Clinton puts $1,000 in a savings passbook that pays 4% compounded quarterly. How much will she have in her account after five years? A.$1,200.50 B.$1,220.20 C.$1,174.80 D.$1,217.50 Question 2 of 20 5.0 Points An increase in inflation should: A.increase the demand for loanable funds B.decrease the interest rate on loans C.increase the interest rate on loans D.none of the above Question 3 of 20 5.0 Points Economists use a ___________________ framework to explain
During the year, the purchaser paid Damien $30,000 principal and $72,000 interest on the note and paid $6,000 principal and $18,000 interest on the mortgage he assumed. The contract price for the above transaction is what amount? Question 7. (TCOs 3, 4, 5, & 7) Which of the following is not an itemized deduction allowed for AMT purposes? Question 8.
(0.5 points) investment in a project. Lesson 4 (3.0 points) What is a 401(k) account? (0.5 points) a common retirement What is a mutual fund? (0.5 points) money invested in stocks What is a broker? (0.5 points) financial professional Name a stock market indicator in the U.S. (0.5 points)
Purchase Costs | Leasing Costs | Down payment $1,500 | Security deposit $500 | Loan payment $450 for 48 months | Lease payment $450 for 36 months | Estimated value atEnd of loan $4,000 | End of lease charges $600 | Opportunity cost interest rate: 4 percent | Purchasing vehicle: $1,500 + [$450 x 48mths ] - $4,000 + [$1,500 x 0.4% x 4yrs] = $19,340 Leasing vehicle is: [$450 x 36mths] + $600 + [$500 x 0.4% x 3yrs] = $16,860 3. You can purchase a service contract for all of your major appliances for $180 a year. If the appliances are expected to last for 10 years, and you earn 5 percent on your savings, what would be the future value of the amount you would pay for the service contract? $293.22 4. You estimate that you can save $3,800 by selling your own home rather than using a real estate agent.
Law and Analysis The taxpayer relief act of 1997 exempted from taxation the profits on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles. This exemption applies to residences the taxpayer(s) lived in for at least two years over the last five. Taxpayers can only claim the exemption once every two years Under § 1.121-1 Exclusion of gain from sale of principle residence of the Internal Revenue Code, the sale of the home of Mr. Junkiewicz and his wife in 2013 is not a taxable transaction as
It's designed to predict risk, specifically, the likelihood that you will become seriously delinquent on your credit obligations in the 24 months after scoring. 3. What is installment credit? (0.5 points) Installment credit is a loan repaid with interest in equal periodic payments. 4.
| 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.