Say your gross pay is $51,212 annually. You take home 85% of it. Figure out how much you take home monthly

Q: You are financing a car worth $29509.88 with tax included. Interest rates are 7.6% compounded daily.…

A: Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: You have a job offer of $51,600. You are paid semi-monthly, and you want to buy health insurance…

A: After all deductions and withholdings from an employee's gross pay have been taken out, the…

Q: anny is saving towards his vacation. He has determined that the total cost including airfare and…

A: Given:   Cost of vacation 5000 Monthly savings  400 Time of deposit Month-end Annual…

Q: The annual income from a rented house is $35,000. The annual expenses are $5,000. If the house can…

A: Annual Income = $35,000 Annual Expenses=$5,000 Net Cashflow =$35,000 -$5,000 =$45,000 Ending…

Q: When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be…

A: Annuity is the no. of payments which are equal in size and made in equal interval of time. Person…

Q: u are getting paid $8,000 a month, at the end of each working month. What is the present value of a…

A: Present value is the equivalent value of money today of the future value of money to be received…

Q: An individual has monthly expenses of $1,800 for rent and $1,000 for groceries, transportation, and…

A: Total Monthly expenses= Rent + Groceries= 1800 + 1000= 2800Total Yearly expenses= Total Monthly…

Q: Suppose you are paid $2,000 per month and your employer's 40100 matches your contributions by 10% up…

A: Here, Monthly Pay is $2,000 Maximum Contribution in 401K is 15% of Monthly pay Period of working is…

Q: The company XYZ is planning to replace an old production line with a new one. The old production…

A: Net Present Value: Current value of all future cash flows generated by a project including initial…

Q: You have just retired with savings of $8 million. If you expect to live for 34 years and to earn 14%…

A: Here; We have Savings of $8million Expected life is 34 years Interest rate is 14% To Find: Yearly…

Q: Cooper wants to save for college. Assuming he puts $5,000 into an account at the end of each year…

A: Money invested anywhere changes in value with the change in time. This is simply understood as the…

Q: you paid is P 78,758 at a rate of 5% per year. The first payment is done after 4 years. How much are…

A: Let us assume the monthly payment = A Accumulated amount = P 77,061 Interest rate = 4% per year

Q: You saved 18,000$ for a down payment on a house. Your bank requires a down payment of 15%. What is…

A: Introduction: Down payment or mortgage installment refers to the periodic payment made against the…

Q: Suppose your annual starting salary is $54,076. After working for a few years, you start to get…

A: Initial Salary = $54,076Growth rate for first 3 Times = g3 = 0.7%Growth rate for next 6 Times = g6 =…

Q: 1. Assume that you begin saving 3% of your total income in an employer-provided retirement plan at…

A: An "income growth strategy" refers to a deliberate plan or approach aimed at increasing one's…

Q: You have just retired with savings of $7 million. If you expect to live for 34 years and to earn 7%…

A: It's a problem of annuity due                         Just retired with savings of 7 million…

Q: At your new job, you will be making monthly deposits of  $285 into a 401k.  If you think that you…

A: Data given: Monthly deposit=$285 N=6 years Rate=13.57%   Required: Amount in 6 years

Q: You want to be able to withdraw $50,000 each year for 20 years. Your account earns 8% interest. a)…

A: a) Hence, the amount in the account at the beginning is $490,907.37 b) Hence, the total money pull…

Q: A woman wishes to save $20,000 for a down payment on a home. She can afford to set aside $1100 per…

A: The concept of the time value of money states that the same amount of money is worth more now than…

Q: You expect that you will need to replace your furnace in 4 years at a cost of $15,228. How much must…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Pick a discretionary expense that you incur on a regular basis, such as buying premium coffees…

A: Amount of the present cash flows when multiplied by the given interest rate (taking time value of…

Q: You are saving for a new house and you put $10,000 per year in an account paying 8%. The first…

A: Annual deposit (D) = $10,000 Interest rate (r) = 8% Number of deposits (n) = 3

Q: You have just leased a car that has monthly payments of $390 for the next 3 years with the first…

A: For the calculation of the present value we will use the below formula.Present value =…

Q: You choose to invest your $3,435 income tax refund check (rather than spend it) in an account…

A: Investment (PV) = $3,435 Interest rate (r) = 6% Period (t) = 30 Years

Q: You just graduated from college and landed your first "real" job, which pays $46, 000 a year. In 14…

A: Future income  is  $54,737.91

Q: Mike and Terri estimate that they want to buy a house for $186,000.00, and they need to make a down…

A: The first step is to calculate the amount of the down payment. This is done by multiplying the cost…

Q: Your part-time job pays you $175 per week. How much money would your parents need in an account…

A: Simple interest means that the interest is paid only on the principal. Unlike compound interest…

Q: An individual has monthly expenses of $1,800 for rent and $1,000 for groceries, transportation, and…

A: The objective of the question is to find out the average return rate that the individual should…

Q: You are 25 years old now, and just graduated from college. You got your first job after graduation,…

A: The total number of working years is the retirement age minus the current age. In this case, it is…

Q: You buy furniture for 5400. You pay 300 down the remainder is financed in 36 100 monthly payments.…

A: Furniture price = 5400 Down payment = 300 Number of payment = nper = 36 Monthly payment = pmt = 100

Q: The cash price of a washing machine is RO 495. Hilal pays RO 25 down and makes 20 payments of 26 RO…

A: Given: Cash price = RO495 Down payment =RO 25 Number of payments = 20 Amount paid = RO26

Q: Aidan wants to pay off the loan on his refrigerated trailer on which he has made 15 payments. If…

A: When a series of equal periodic payment is made against a loan, it is termed as annuity. This…

Q: 6. Suppose that you buy a car for $28,700 and agree to the bi-weekly payments at 7.15% compounded…

A:

Q: f a person spends $6 a week on coffee (assume $300 a year), what would be the future value of that…

A: Future value is the amount deposited and amount of interest accumulated over the period.In the given…

Q: How much will your utility bills

A: The worth of today’s dollar at a future date is the future value of the dollar. For example, the…

Q: You'd like to have $1,000,000 saved in 35 years so that you can retire a little bit early. If you…

A:

Q: Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50% up…

A: The 401k contributions are the contribution made by the employee and employer for the retirement of…

Q: You want to make sure that you have $9,000 after 3 years to pay off for a debt. Your salary allows…

A: Here, We have; Future Value as $9,000 Time period is 3 years or 3×12 = 36 months Monthly Saving is…

Q: A buyer earns $48,000 salary per year. In order to qualify for an 85 percent loan, his monthly PITI…

A: Introduction = Every person needs loan to buy his house, to run his business, education loan etc.…

Q: You need $73,061 in eight years if you can earn a 0.39% per month. How much will you have to deposit…

A: Present value refers to the current value of the future cash flow, discounted at the given rate for…

Q: how much will she have left each month to put toward savings to reach her financial​ goals? Given​…

A: Savings is the leftover amount after all the expenses have been made from the income received. It…

Q: 5. If your working career is 540 months and you want to have a million dollars in your retirement…

A: The FV of an account refers to the value of the account assuming that its cash flows grow at a fixed…