What is the total balance of Jessie Robinson's real estate account? (0.5 points) $19,000 b. What is the total balance of Jessie Robinson's revolving account? (0.5 points) $500 c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points) no d. How many creditors have made inquiries about Jessie Robinson's credit?
What is the total balance of Jessie Robinson's real estate account? (0.5 points) $19,100 b. What is the total balance of Jessie Robinson's revolving account? (0.5 points) $500 c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points) No.
Why? (1-3 sentences. 1.0 points) I think it’s normal. Because she hasn’t invested on big things. So therefore her credit score isn’t great but it’s okay.
Assignment 5: Credit and Loans (25.0 points) 1. If you are borrowing money and paying interest, would you prefer an interest rate that compounds annually, quarterly, or daily? Why? (2-4 sentences. 1.0 points) A: I would want an annually interest rate.
How many months' worth of expenses do you think your financial reserve should include? Describe at least two reasons for this decision. (3-6 sentences. 2.0 points) 3. Would you rather have a savings account that offered simple interest, or an account that offered compound interest?
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?
Give at least two examples of types of state taxes. (1.0 points) Social Security taxes and Federal Insurance Contributions Act (FICA) tax. 5. What is a pay stub? (0.5 points) Each time a company pays you, you'll receive a short summary of the amount of your gross pay, and the amount of payroll withholding for that pay period Lesson 3 (3.0 points) 1.
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? (3-6 sentences. 2.0 points) I would want an account that offers quarterly compounding so I can continue putting money in my bank so that interest will grow on it. Although I am not sure what I will choose when I am older, I think this one sounds the best and most intriguing.
| | | Student Answer: | | 16.87% | | | | 17.75% | | | | 18.69% | | | | 19.67% | | | | 20.66% | | | | Points Received: | 6 of 6 | | Comments: | | | | Question 3. | Question : | You have a chance to buy an annuity that pays $1,000 at the end of each year for three years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity? | | | Student Answer: | | $2,697.93 | | | | $2775.79 | | | | | $2921.86 | | | | | $3,075.64 | | | | $3,237.52 | | Instructor Explanation: | The answer represents the present value of the cash flows discounted by 5.5% over three years.
Why? (3-6 sentences. 2.0 points) 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?