Lori is a student who teaches golf on Saturdays. In a year she earns $40,000 after paying her taxes. At the beginning of 2017, Lori owned $2,500 worth of books, DVDS, and golf clubs and she had $4,000 in a savings account at the bank. During 2017, the interest on her savings account was $240 and she spent a total of $30,000 on consumption goods and services. There was no change in the market values of her books, DVDS, and golf clubs.
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- Lily graduated from UCSD in 2015. Right now she has an excellent job with a take-home income (after taxes) of $5,000 a month. The following is her financial situation: 1. She is single and shares an apartment with a roommate. Her monthly expenses in December 2020 were: Rent: Utilities (including cell phone): Food (including eating out) Car payment Gas Student loan payment Credit card payment Personal loan payment Clothing and personal items TOTAL Net loss of $450.00 As of December 31, 2020, what was Lily's net income for the month of December 2020? Express it in terms of a net gain or a net loss for the month. Net gain of $450.00 $1,400 600 600 No gain or loss No answer text provided. 500 200 1,100 500 300 250 $5,450On June 1, Mia deposited $3,800 in an MMDA that pays 4% interest. On October 31, Mia invested $2,700 in a three-month CD that pays 6%. At the end of the year, how much interest will Mia have earned, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is? (Round to the nearest cent)Dimi wants to start up his own business. Unfortunately, he doesn’t have a lot of money. That’s why his bank is offering him a credit cards on December 1, 2015. This allows him to spend money and only pay it back when it suits him. On January 1, 2016 Dimi spends 3,000 and then on April 1, 2017 another 5,000 euros. On January 1, 2018, he spends 150 euros every month during one year. Off course a credit card is not cheap. Dimi will need to pay an annual effective interest rate of 3.2% for the first 12 months and an annual effective interest rate of 16.8% for the period after. What does Dimi need to repay the credit card company on December 1, 2018? (I will send you another question that related to this answered after you provide the solution) please answer in paper its easy to understand
- Diane Van Os decided to buy a new car since her credit union was offering such low interest rates. She borrowed $30,500 at 4.75% on December 29 2016, and paid it off February 28 2018. How much did she pay in interest? (Assume exact interest.) (Use Days in a year table.)Lindsey sold stationery to her family and her mother’s friends. She deposited the $125 she earned in a savings account. The account earns 5.18% interest annually. If she does not deposit or withdraw any money for 18 months, how much will she have in her account?June Xu is a registered nurse who earns $3,250 per month after taxes. She has been reviewing her savings strategies and current banking arrangements to determine if she should make any changes. June has a regular checking account that charges her a flat fee per month, writes an average of 18 checks a month, and carries an average balance of $795 (although it has fallen below $750 during 3 months of the past year). Her only other account is a money market deposit account with a balance of $4,250. She tries to make regular monthly deposits of $50–$100 into her money market account but has done so only about every other month. Of the many checking accounts June’s bank offers, here are the three that best suit her needs.• Regular checking, per-item plan: Service charge of $3 per month plus 35 cents per check.• Regular checking, flat-fee plan (the one June currently has): Monthly fee of $7 regardless of how many checks written. With either of these regular checking accounts, she can avoid…
- Heather borrowed $4700 on her credit card to purchase new furniture. Find the monthly interest charges, which are 1.8% per month on the unpaid balance. Find the interest charges if she moves the debt to a credit card charging 0.7% per month on the unpaid balance. What are the interest charges at 1.8% a month? What are the interest charges at 0.7% a month? What are the savings that using the 0.7% card brings over the 1.8% card?This year, Major Healy paid $35,750 of interest on a mortgage on his home (he borrowed $715,000 to buy the residence in 2015; $815,000 original purchase price and value at purchase), $5,500 of interest on a $110,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $8,250 of interest on a mortgage on his vacation home (borrowed $165,000 to purchase the home in 2010; home purchased for $412,500). Major Healy's AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction? Interest DeductibleDiane Van Os decided to buy a new car since her credit union was offering such low interest rates. She borrowed $30,400 at 4.75% on December 14 2016, and paid it off March 15 2018. How much did she pay in interest? (Assume exact interest.) (Use Days in a year table.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Interest paid
- On January 1, 2009, Karina owed $11,981 to her friend Gregory, who was kind enough not to charge Karina any interest. Each month during 2009, Karina paid Gregory some of the money she owed. If Karina still owed Gregory $4,937 on January 1, 2010, what was the average amount of Karina's monthly payments?$ Give answer to the nearest penny.Mrs. Imperiale’s credit card has an APR of 13.2%. She does not ever pay her balance off in full, so she always pays a finance charge. Her next billing cycle starts today. The billing period is 31 days long. She is planning to purchase $7,400 worth of new kitchen cabinets this billing cycle. She will use her tax refund to pay off her entire bill next month. If she purchases the kitchen cabinets on the last day of the billing cycle instead of the first day, how much would she save in finance charges? Round to the nearest ten dollars.Alyssa Clark is evaluating her debt safety ratio. Her monthlytake- home pay is $3,320. Each month, she pays $380 for an auto loan, $120 on a personal line of credit, $60 on a department store charge card, and $85 on her bank credit card. Complete Worksheet 6.1 by listing Alyssa’s outstanding debts, and then calculate her debt safety ratio. Given her current take-home pay, what is the maximum amount of monthly debt payments that Alyssa can have if she wants her debt safety ratio to be 12.5 percent? Given her current monthly debt payment load, what would Alyssa’s take-home pay have to be if she wanted a 12.5 percent debt safety ratio?