Questions from Personal Finance

Q: Prepare your net worth statement using the Assets - Liabilities = Net

Prepare your net worth statement using the Assets - Liabilities = Net worth equation.

Q: Ted Riley owns a 2012 Lexus worth $40,000.

Ted Riley owns a 2012 Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings account with $1,900 in it. He has a mutual fund worth $110,000. His...

Q: Calculate approximately how much money an older (65+) household with

Calculate approximately how much money an older (65+) household with an annual income of $45,000 spends on housing each year.

Q: Using Exhibit 14-2, calculate approximately how much money the

Using Exhibit 14-2, calculate approximately how much money the older household from Problem 4 spends on medical care.

Q: Gene and Dixie, husband and wife (ages 35 and 32

Gene and Dixie, husband and wife (ages 35 and 32), both work. They have an adjusted gross income of $50,000 in 2014, and they are filing a joint income tax return. Both have an employer-provided retir...

Q: You have $100,000 in your retirement fund that is

You have $100,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? How ma...

Q: In 2014, Joshua gave $14,000 worth of Microsoft

In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000. What was the gift tax in 2014?

Q: Jamie and Peter Dawson own 220 shares of Duke Energy common stock

Jamie and Peter Dawson own 220 shares of Duke Energy common stock. Duke Energy's quarterly dividend is $0.28 per share. What is the amount of the dividend check the Dawson couple will receive for th...

Q: This chapter explored a number of different classifications or types of mutual

This chapter explored a number of different classifications or types of mutual funds. a. Based on your age and current financial situation, which type of mutual fund seems appropriate for your inves...

Q: During the four quarters for 2015, the Browns received two quarterly

During the four quarters for 2015, the Browns received two quarterly dividend payments of $0.18, one quarterly payment of $0.20, and one quarterly payment of $0.22. If they owned 300 shares of stock,...