Questions from Personal Finance

Q: Jasmine has been saving for the past five years for a European

Jasmine has been saving for the past five years for a European vacation. Her vacation account currently has $5,000, and she is ready to book her trip. If she takes the vacation, what impact will it ha...

Q: What are the three elements of planning to protect your assets?

What are the three elements of planning to protect your assets? Define each element.

Q: Based on the information in Problems 9 and 10, what is

Based on the information in Problems 9 and 10, what is Ryan and Nicole’s liquidity ratio? What is their debt-to-asset ratio? Comment on each ratio. Data from Problem 9: Ryan and Nicole have the fol...

Q: How does each element of financial planning affect your cash flows?

How does each element of financial planning affect your cash flows?

Q: Jason and Mia are in their early 20s and have been married

Jason and Mia are in their early 20s and have been married for three years. They are eager to purchase their first house, but they do not have sufficient money for a down payment. Mia’s Uncle Chris ha...

Q: What are the six steps in developing a financial plan?

What are the six steps in developing a financial plan?

Q: Tracy is single and had an adjusted gross income of $37

Tracy is single and had an adjusted gross income of $37,000 in 2015. Tracy also has the following items: Unreimbursed medical expenses…………$3,000 State income tax…………………………………..1,850 Interest expense...

Q: How do your financial goals fit into your financial plan? Why

How do your financial goals fit into your financial plan? Why should goals be realistic? What are three time frames for goals? Give an example of a goal for each time frame.

Q: Emma’s adjusted gross income is $24,200. She has

Emma’s adjusted gross income is $24,200. She has $1,800 in unreimbursed medical expenses. How much in medical expenses can Emma claim as an itemized deduction?

Q: Juan would like to give his newly born grandson a gift of

Juan would like to give his newly born grandson a gift of $10,000 on his 18th birthday. Juan can earn 7% annual interest on a certificate of deposit. How much must he deposit now to achieve his goal?...