Questions from Personal Finance

Q: Jamie had the following figures over the past four years.

Jamie had the following figures over the past four years. a. Calculate the nondiscretionary cost percentage and what the change in the ratio demonstrates over time. b. Calculate the discretionary co...

Q: Sharon had gross income of $120,000 and nondiscretionary expenses

Sharon had gross income of $120,000 and nondiscretionary expenses of $32,000. She also had discretionary expenses of $10,000, and her capital expenditures on leisure items were $5,000. What is her dis...

Q: Abby had the following statistics. Calculate the gross savings percentage.

Abby had the following statistics. Calculate the gross savings percentage. Net cash flow …………………………………………………$6,000 Nondiscretionary expenses…………………………….. 35,000 Discretionary expenses ……………………………………....

Q: Earnestos was an accountant. He had a good job with a

Earnestos was an accountant. He had a good job with a major accounting firm with a bright future. He also had a huge spending habit. He had $15,000 of credit card debt and  as adding to it each month....

Q: How many years would it take for $2,000 in

How many years would it take for $2,000 in savings a year earning interest at 6 percent to amount to $60,000?

Q: Unlike Richard, Monica remained very concerned about their financial future.

Unlike Richard, Monica remained very concerned about their financial future. Specifically she was fearful that the couple would not have enough money to retire comfortably as they had expected. She as...

Q: Aaron has $50,000 in debt outstanding with interest payable

Aaron has $50,000 in debt outstanding with interest payable at 12 percent annually. If Aaron intends to pay off the loan through four years of interest and principal payment, how much should he pay an...

Q: What is the difference in amount accumulated for a $10,

What is the difference in amount accumulated for a $10,000 sum with 12 percent interest compounded annually versus one compounded monthly over a one-year period?

Q: What is the difference in future value between savings in which $

What is the difference in future value between savings in which $3,000 is deposited each year at the beginning of the period and the same amount deposited at the end of the period? Assume an interest...

Q: Kenneth made a $20,000 investment in year 1,

Kenneth made a $20,000 investment in year 1, received a $5,000 return in year 2, made an $8,000 cash payment in year 3, and received his $20,000 back in year 4. If his required rate of return is 8 per...