(2 marks) d) Do they save enough with this plan to meet their retirement goal? (13 marks) Question 5 – TVM (15 marks) As a York Student you have financed your education in a number of ways. Unfortunately you are currently in a bind and are forced to use your ABC company credit card to borrow some funds. You check your credit card agreement and it states that the interest rate is 18 percent (APR - annual percentage rate), or 1.5 percent per month. Assume you needed to finance $1,000 on your credit card over a period of 1 year (a) Someone who hasn’t taken ADMS3530 maintains that you would pay $180 in interest over the year.
3a. 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 $45,000 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 $36,000. There is no loan period for the $45,000 car that would be under our $500
With the seed and fertilizer, Fiona harvested 135 bushels of wheat. The land is a fixed asset of 50 bushels of wheat, the plow is worth 2 bushels after the first year of use, and the oxen is worth 36 bushels (40/10=4 bushels a year). The oxen will depreciate 4 bushels each year. The retained earnings after the Baron’s Investment is 223 bushels of wheat harvested. With a retained earnings from the wheat of 122 bushels Ivan – the Farmer Ivan received from Baron Von-Shrek the following: 20 (5 bushels per acre) acres to farm, 20 bushels of wheat and 2 bushels of fertilizer – Ivan also received oxen, worth 40 bushels over 10 years – with a depreciation of 4 bushels per year.
Dear Nation, Did you know that one third of tax payers money was used for Supplemental Nutrition Assistance Program also known as SNAP formally known as food stamps. In 2009 they gave $4.6 billion in food stamps to over 43 million people. More that 14% of these people are not even eligible to participate in this program but find ways to any way. I believe that families that do not deserve this service should not get and the families that do deserve it are getting to much. A family of four on average gets $668 a month to spend on food.
Fairmount Inc., a developer of radiology equipment, has stock outstanding as follows: 25,000 shares of cumulative 2%, preferred stock of $130 par, and 83,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $43,500; second year, $60,500; third year, $134,160; fourth year, $185,350. Calculate the dividends per share on each class of stock (preferred and common) for each of the four years. Round all answers to nearest whole cent. If no dividends are paid in a given year, enter "0".
El-Omari ENGR 301 Lecture 22 • Unused capital losses can be carried back to offset taxable income of the preceding three years and for the following 7 years. This offset will be in form of tax refund 3 S. El-Omari Example: gain on land transaction. In 1995, a Winnipeg-based manufacturer of electronic sensor and alarm systems acquired land in three different locations to construct supply/distribution facilities. By 1999, only one of these three facilities had been constructed and the company decided to sell the other two pieces of property. One of these was purchased for $65,000 and there were associated acquisition costs of $5000.
It can be petrifying for an individual or a large family to purchase an insurance plan that will not break the bank. There are many websites that offer insurance plans plus compares how much it will cost. However, it is important for the general population to be knowledge about every small detail regarding the Obamacare. For example, this year 3.1 million American’s of age 19 through 25 might be eligible to be added with their parents’ plans. Also, if an individual yearly earning is approximately $15,281 or a family of four with an annual income of 31,321.50 will be considered under the American’s who earn up to 133% of the federal poverty level.
Assignment 2: Financial Project Marc E. White MAT 104-Algebra with Applications Professor: Emmanuel Cenizal Strayer University March 10, 2013 Part 1: Five years ago I bought a house for $171,000 and I put a down payment of $30,000. With that said I took a home loan out for $141,000 for 30 years with a fixed interest rate of 5.75%. I have a current loan balance of $130,794.68 left to pay over the next 25 years. If I wanted to pay this home off in just 20 years without changing any of my escrow payment. I would be looking at paying an extra $95.45 now currently I am paying all of my monthly obligations with only $100 dollars left at this time I do not feel that I would be doing myself or family the responsible thing by refinancing at this time to the higher monthly payment.
Argumentative Essay for Food Stamp Reform The Supplemental Nutrition Assistance Program (SNAP, formerly known as Food Stamps) is supposed to provide benefits to low-income households to help them purchase food. In 2011, the federal government spent seventy eight billion dollars on the program. SNAP benefits are now administered through a convenient debit card called an EBT card. According to the US Department of Labor more than 46.6 Million Americans participated in SNAP in June 2012. SNAP national participation in June 2012 rose to 46,670,373 people, an increase of 173,162 people from May 2012.