Karrie is a golf pro, and after she paid taxes, her income from golf and her interest from financial assets totalled $2,500,000 in 2019. At the beginning of 2019, she owned $1,100,000 worth of financial assets. At the end of 2019, Karrie's financial assets were worth $1,300,000. How much did Karrie save during 2019?
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Karrie is a golf pro, and after she paid taxes, her income from golf and her interest from financial assets totalled $2,500,000 in 2019. At the beginning of 2019, she owned $1,100,000 worth of financial assets. At the end of 2019, Karrie's financial assets were worth $1,300,000. How much did Karrie save during 2019?
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- Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is offering five-year investment certificates that pay interest compounded quarterly. What is the minimum nominal interest rate he would have to receive to reach his goal?You are saving up for a big investment in six years. You estimate it will take $14,500 to secure this investment. How much do you need to put into a savings account at the end of each year if the savings account earns 4%? Neglect taxes.Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is offering five- year investment certificates that pay interest compounded quarterly. What is the minimum nominal interest rate he would have to receive to reach his goal? (Ctrl) -
- Determine your personal savings if: $9800 is the personal consumption expenditure. $12,000 is the personal discretionary income.could you show how to determine the bond's present value without a calculator?Now It's Finally Time to Start Spending My Retirement Nest Egg Not so fast! People work long and hard for years on their retirement plans. Paying smart attention to the plans doesn't stop when it's time to enjoy the fruits of the labor and sacrifice. When it comes time for you to begin using your funds, you'll need to make sure you follow some rules in order to avoid unnecessary expenses. Some questions follow that will help you remember wise ways to manage your money as well as avoid pitfalls that could cost you. Keeping in mind that the primary purpose of tax-sheltered plans is to provide for your retirement, there are regulations in place to discourage early withdrawals, which presumably are intended for uses other than funding your retirement. That discouragement comes in the form of paying penalties and some taxes for which you would not otherwise be liable. However, there are some withdrawals allowed that wouldn't require you to pay penalties, as long as certain qualifications…
- You borrow $1,000 from a bank to buy a car to use in your pizza delivery business. IS THIS AND INVESTMENT OR SAVINGSEconomics You are planning to take out a 5 hundred thousand dollar fixed-rate mortgage with a 30- year term and a stated annual mortgage rate of 5.7 percent. Your lender offers to lower your stated annual interest rate by one-quarter of a percentage point for each discount point you buy. What will your monthly payment be if you buy 3 discount points? Round your answer to the nearest dollar. Answer the following based on the information from the previous question. Approximately how many months do you need to stay in the mortgage to make it worthwhile to pay the discount points? Round your answer to two decimal places.You want to buy a $249,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be if the interest rate is 5% ? c) What will your monthly payments be if the interest rate is 6% ?
- 3. If you decided to take the $250,000 cash payment today, but saved that in your bank account at 3%, how much would you have saved up in your bank account in 20 years?Sara wants to have $600,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 8%, to ensure that she has $600,000 in 20 years? Select one: a. $231,712 b. $139,541 C. $180,221 d. $128,729Why is using home equity a risky way to make purchases that do not add to your assets? It's not risky. You'll definitely lose your home even if you're able to keep up with the payments. It increases your property tax burden. It puts your home at risk if you're unable to make the payments.