Questions from Personal Finance

Q: Mary’s last bank statement showed an ending balance of $168.

Mary’s last bank statement showed an ending balance of $168.51. This month, she deposited $600.00 in her account and withdrew a total of $239.00. Furthermore, Mary wrote a total of five checks, two of...

Q: Recall that the Sampsons have resolved to save a total of $

Recall that the Sampsons have resolved to save a total of $800 per month. Dave and Sharon notice that their local bank offers the certificates of deposit listed in the following table; they now need t...

Q: Recall that the Sampsons have resolved to save a total of $

Recall that the Sampsons have resolved to save a total of $800 per month. Dave and Sharon notice that their local bank offers the certificates of deposit listed in the following table; they now need t...

Q: Teresa has just opened a NOW account that pays 3.5

Teresa has just opened a NOW account that pays 3.5% interest. If she maintains a minimum balance of $500 for the next 12 months, how much interest will she earn?

Q: Lisa is depositing $2,500 in a six month CD

Lisa is depositing $2,500 in a six month CD that pays 4.25% interest. How much interest will she accrue if she holds the CD until maturity?

Q: Travis has invested $3,000 in a three month CD

Travis has invested $3,000 in a three month CD at 4%. How much will Travis have when the CD matures?

Q: What is the opportunity cost of having excessive amounts of liquid funds

What is the opportunity cost of having excessive amounts of liquid funds?

Q: Alys makes $450 per week. How much will be withheld

Alys makes $450 per week. How much will be withheld from her weekly check for Social Security tax? Medicare tax? Total FICA taxes?

Q: Why is it important to track your spending before creating a budget

Why is it important to track your spending before creating a budget?

Q: List one reason why the time value of money is an important

List one reason why the time value of money is an important concept.