Questions from Personal Finance

Q: Martina Lopez has several credit cards, on which she is carrying

Martina Lopez has several credit cards, on which she is carrying a total current balance of $14,500. She is considering transferring this balance to a new card issued by a local bank. The bank adverti...

Q: Parker Young recently received his monthly MasterCard bill for the period June

Parker Young recently received his monthly MasterCard bill for the period June 1–30, 2015, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 15 percent per yea...

Q: Henry Stewart is trying to decide whether to apply for a credit

Henry Stewart is trying to decide whether to apply for a credit card or a debit card. He has $8,500 in a savings account at the bank and spends his money frugally. What advice would you have for Henry...

Q: Christine Lin was reviewing her credit card statement and noticed several charges

Christine Lin was reviewing her credit card statement and noticed several charges that didn’t look familiar to her. Christine is unsure whether she should pay the bill in full and forget about the unf...

Q: Carter Hall recently graduated from college and wants to borrow $50

Carter Hall recently graduated from college and wants to borrow $50,000 to start a business, which he believes will produce a cash flow of at least $10,000 per year. As a student, Carter was active in...

Q: Isaac Wright has a monthly take-home pay of $1

Isaac Wright has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Isaac’s debt b...

Q: Use Worksheet 6.1. Alyssa Clark is evaluating her debt

Use Worksheet 6.1. Alyssa Clark is evaluating her debt safety ratio. Her monthly take- home pay is $3,320. Each month, she pays $380 for an auto loan, $120 on a personal line of credit, $60 on a depar...

Q: What is the purpose of a tax audit? Describe some things

What is the purpose of a tax audit? Describe some things you can do to be prepared if your return is audited.

Q: What are the main features and implications of the Credit Card Act

What are the main features and implications of the Credit Card Act of 2009?

Q: Sean and Amy Anderson have a home with an appraised value of

Sean and Amy Anderson have a home with an appraised value of $180,000 and a mortgage balance of only $90,000. Given that an S&L is willing to lend money at a loan-to-value ratio of 75 percent, how big...