Max wants to monitor his expenses for a month. What should he do first? Choose the correct answer below. set up a system to record bill payments and daily spending look over his credit card statements for the past year consider ways to reduce what he borrows stop spending money on his favorite hobbies
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Max wants to monitor his expenses for a month. What should he do first?
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- According to personal finance experts, what is one way to start getting out of debt? Take out a loan that you do not have to repay for at least 10 years. Ask a friend or family member if you can borrow money to pay your car loan each month. Cut up your credit cards and start living on a cash-only basis. Apply for new credit cards and use those to make purchases instead of your bank debit card.A) What is the APR for purchases made using this credit card? B) What is the maximum amount that Marcus can put on this credit card? C) Did Marcus pay off the entire balance of his credit card last month? D) Suppose Marcus pays the minimum payment due this month, what will his new balance be, after this payment is processed and assuming he makes no additional purchases?Suppose that with the advent of ATMs, a person withdraws money once every two days. Further, suppose this person spends $10 per day. Calculate the amount of money this person withdraws each time she goes to the bank.
- Which account should Scenario they use? Chris wants to put money aside so he can buy his a Checking Savings mom a birthday present. Sam wants to buy school supplies for a project she is Checking Savings working on. Aisha wants to withdraw $20 from an ATM so she can buy a movie ticket and go watch the movie with her friends. Checking Savings Neil rides his bike every day to school and back and is responsible for maintaining his bike. He wants to d Checking Savings www.ngpf.org Last updated: 12/10/20 make sure he has money to fix or replace anything that might break in the future. Rosa is going ona vacation with her parents in a few e months and wants to put the money she just got from the holidays aside to buy souvenirs. Checking SavingsIf you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 6% APR and the following transactions? Note: Round your answer to the nearest cent. 31-day billing cycle 10/1 10/3 Previous balance Credit $ 1,164 10/12 Charge: King Soopers $ 79 $ 148 Credit 10/15 Payment $ 310 Credit 10/25 Charge: Delta $ 321 10/30 Charge: Holiday Fun $ 61 Answer is complete but not entirely correct. Amount owed $ 1,097.56×If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? Note: Round your answer to the nearest cent. 10/1 10/3 10/12 10/15 10/25 10/30 Amount owed 31-day billing cycle Previous balance Credit Charge: King Soopers Payment Charge: Delta Charge: Holiday Fun $ 77 $ 150 $ 330 $ 323 $ 63 Credit Credit $ 1,166
- Read the passage and answer the following question(s). dis ins Homeowner and Renters Insurance: Protect Your Belongings You may be able to save hundreds of dollars a year on homeowners insurance by shopping around. You can also save money with these tips: Consider a higher deductible. Increasing your deductible by just a few hundred dollars can make a big difference in your premium. Ask your insurance agent about discourks. You may be able to get a lower premium if your home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm shutters or fire retardant roofing material. Persons over 55 years of age or long-term customers may also be offered discounts. OD. Insure your house NOT the land under it. After a disaster, the land is still there. If you don't subtract the value of the land when deciding how much homeowners insurance to buy, you will pay more than you should. Don't wait till vou have lorIf you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? 28-day billing cycle 1-October Previous balance $ 1,168 3-October Credit $ 75.00 12-October Charge: King Soopers $ 152.00 15-October Payment $ 350.00 25-October Charge: Delta $ 325.00 30-October Charge: Holiday Fun $ 65.00 APR 12% Required: Using the information above, complete the following table and questions Number of days of current balance Current balance Extension 2 $ 1,168.00 9 3 10 5 2 What is the total extension amount? What is the average daily balance? What is the total number of days of…Suppose that before ATMs and credit cards, a person goes to the bank once at the beginning of each four-day period and withdraws from her savings account all the money she needs for four days. Assume that she spends $100 per day. Calculate the amount of money this person withdraws each time she goes to the bank.
- Homework i Saved If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 9% APR and the following transactions? Note: Round your answer to the nearest cent. 31-day billing cycle 10/1 10/3 Previous balance Credit $ 1,169 $ 74 Credit es 10/12 10/15 Charge: King Soopers $ 153 Payment $ 360 Credit 10/25 Charge: Delta $ 326 10/30 Charge: Holiday Fun $ 66 Amount owedSuppose that you withdraw ₱ 1,500.00 from your savings account. Over the weekend, several people want to borrow money from you. Read the stories and decide to whom you will lend your money. Story 1. Your younger sister is having a garage sale. She needs cash to make a change for the day. She will sell you a bond for ₱ 1,000.00 You will keep the bond for a week, and she promises to pay you back. Story 2. Your older brother has a small business idea but doesn’t have any money. He wants to borrow your ₱ 1,500.00 and promises to pay you back ₱1,800.00 in four weeks. Story 3. Your best friend at school, whom you know very well, wants to borrow your ₱1,500.00 to buy cupcakes. She plans to sell at a higher price and promises to pay you back ₱1,700.00 in two weeks. Whose bonds will you buy? Why?Suppose that you withdraw ₱ 1,500.00 from your savings account. Over the weekend, several people want to borrow money from you. Read the stories and decide to whom you will lend your money. Story 1. Your younger sister is having a garage sale. She needs cash to make a change for the day. She will sell you a bond for ₱ 1,000.00 You will keep the bond for a week, and she promises to pay you back. Story 2. Your older brother has a small business idea but doesn’t have any money. He wants to borrow your ₱ 1,500.00 and promises to pay you back ₱1,800.00 in four weeks. Story 3. Your best friend at school, whom you know very well, wants to borrow your ₱1,500.00 to buy cupcakes. She plans to sell at a higher price and promises to pay you back ₱1,700.00 in two weeks. Whose bonds will you buy? Why? (WITH SOLUTION)