Only accepting an A answer in Financing
yydiaiahoops201dCalculate the Total Liquid Assets
| Money market account | $ 3660 | Medical Bills | $ 860 |
| Mortgage | $ 392500 | Checking account | $ 1060 |
| Retirement account | $ 287840 | Credit card balance | $ 920 |
(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)
Question 3 (1 point)
Calculate the Total Current Liabilities
| Money market account | $ 3520 | Medical Bills | $ 2320 |
| Mortgage | $ 93040 | Checking account | $ 560 |
| Retirement account | $ 168460 | Credit card balance | $ 200 |
(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)
Question 4 (0.25 points)
Based on this financial data, calculate the debt ratio.
| Liabilities | $ 8350 | Net Worth | $ 64900 |
| Liquid Assets | $ 4690 | Current Liabilities | $ 1920 |
| Monthly Credit Payments | $ 1540 | Take-home Pay | $ 2890 |
| Monthly Savings | $ 280 | Gross Income | $ 3330 |
Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 0.25, 0.09, etc. Do not include a comma or"$" sign in your response.
Question 5 (0.25 points)
Based on this financial data, calculate the Current Ratio.
| Liabilities | $ 7830 | Net Worth | $ 64600 |
| Liquid Assets | $ 4690 | Current Liabilities | $ 1360 |
| Monthly Credit Payments | $ 1100 | Take-home Pay | $ 2970 |
| Monthly Savings | $ 640 | Gross Income | $ 3450 |
Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 0.25, 0.09, etc.
Do not include a comma or"$" sign in your response.
Question 6 (0.25 points)
Based on this financial data, calculate the Debt-Payments Ratio.
| Liabilities | $ 8490 | Net Worth | $ 63000 |
| Liquid Assets | $ 5070 | Current Liabilities | $ 2260 |
| Monthly Credit Payments | $ 540 | Take-home Pay | $ 2910 |
| Monthly Savings | $ 180 | Gross Income | $ 3290 |
Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc.
Do not include a comma or"$" sign in your response.
Question 7 (0.25 points)
Based on this financial data, calculate the Savings Ratio.
| Liabilities | $ 8890 | Net Worth | $ 70000 |
| Liquid Assets | $ 5210 | Current Liabilities | $ 2140 |
| Monthly Credit Payments | $ 700 | Take-home Pay | $ 3090 |
| Monthly Savings | $ 580 | Gross Income | $ 4370 |
Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc.
Do not include a comma or"$" sign in your response.
Chapter 3 LO 3.2
Question 8 (2 points)
Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes? How much?
| Adjusted gross income | $ | 46,750 | Itemized deductions | $ | 17,820 | |
| Child care tax credit | $ | 550 | Federal income tax withheld | $ | 3,400 | |
| Amount for personal exemptions | $ | 8,480 | AVERAGE Tax Rate | 15 | percent | |
Enter "tax refund" or "payment due"
Question 9 (1 point)
Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $80 for this service. Over a period of 10 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 4percent on her savings.
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)
Question 10 (1 point)
On December 30, you decide to make a $2600 charitable donation. If you are in the 30 percent tax bracket, how much will you save in taxes for the current year?
(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)
Question 11 (1 point)
On December 28 each year, you are planning to make a charitable donation of $3980 and are in the 15 percent tax bracket. You are planning to deposit the tax savings in a savings account for the next 7 years at 3 percent, what will be the future value of that savings account?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)
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