Ralph has two accounts with South Trust National Bank. Over the summer, he mows lawns and deposits his earnings weekly into his savings account. Ralph also eats out every day and uses the money in his checking account to pay for his meals. Besides these two transactions, he does not deposit or withdraw funds from either of these accounts. The amount in his savings account over time is represented in the table below. He spends $50 on food each week, and after three weeks, he has $1,600 in his checking account. Ralph Saving Account   Weeks Total Amount 0   2 700 6 1100 12 1700

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.

Cassidy has recently begun keeping her spending under control, but she still cannot fully pay off her credit card. She maintains an average monthly balance of about $1200, and her card charges a 21.6% annual interest rate, which it bills at a rate of 1.8% per month. How much is she spending on credit card interest per year?

Since he was 24 years old, Ben has been depositing $225 at the end of each month into a tax-free retirement account earning interest at the rate of 3.5%/year compounded monthly. Larry, who is the same age as Ben, decided to open a tax-free retirement account 5 years after Ben opened his. If Larry's account earns interest at the same rate as Ben's, determine how much Larry should deposit each month into his account so that both men will have the same amount of money in their accounts at age 65. (Round your answer to the nearest cent.)

Samantha moved from Regina to Winnipeg to work at Red River College. Her moving expenses included $2,500 for a moving truck rental, $300 for meals, $1,700 for hotel rooms, $1,000 to cancel her lease at her old apartment and $1,200 deposit for her new apartment lease. Her income from the college for the year was $3500. What is Samantha's eligible moving allowances?

Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and local income taxes and $330 in Social Security taxes per month. Louise contributes $180 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $105 and $100, respectively. Her monthly payment on an automobile loan is $335. a. What is Louise's debt payments-to-income ratio?

When Gerardo was born, his grandparents started a savings account for him with a beginning balance of 1,250 Peruvian Sols. Every month they deposited 160 Sols into the account. The savings account paid an annual interest rate of 2.1%, compounded monthly. Gerardo just turned 24 and the balance of his account is now $61,917.43. How much of the money in Gerardo's account was earned in interest? (Round your answer to two decimal places, and don't include a currency sign.)

a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?

Joe has $1,500 in credit card debt but pays it in full every month from cash flow. He also pays her mortgage from cash flow ($2,000 principal). For savings, Joe saves $50 per month in an interest-bearing savings account. Annual interest earned and reinvested is $100. How much will his net worth increase in the current year?

Bert spends $10.60 a day travelling to work, and a further $65 a day sending his daughter Belle to a childcare centre. Bert has just received the monthly account for the childcare centre totalling $1,625, which he needs to pay immediately. Bert owns a newspaper publishing company. He has paid a membership fee with respect to his personal membership of the World Association of Newspapers, amounting to $3,300, and he has bought a new computer for $2,200 that he keeps in his study at home. Bert has recently purchased a beach house near Geelong. The property has been rented out to Bert’s sister since he purchased it. He took out a 25-year loan to finance the purchase. His interest payments are $7,200 a year. Bert also claims lawn-mowing expenses of $100 per month with respect to his beach house. Required: Advise Bert about the deductibility of the above expenses. Where appropriate, refer to case law and legislation in your answe