Sheldon is going to enroll in a flexible spending account (FSA). In order to decide how much to contribute to the FSA, he needs to estimate his out-of-pocket health care expenses for the coming year. For the past four years, his expenses have been $648, $1,024, $812, and $705. What is Sheldon's average yearly expense?

Jada has a financial goal of the minimum for a fully funded emergency fund by March 31st 2022 and it is currently October 1st 2021. She works remotely from home. She gives you the following information: Annual Salary: $48,000 Monthly Rent: $900 Monthly Utilities: $200 Monthly Internet Fiber $120 Monthly Groceries: $600 Annual Gas and Car expenses: $900 Current savings account balance: $ 2,300 @ 2% compounded monthly How much does she need to save at the end of each month in her savings account if she wants to have a full funded emergency fund by March 31st,2022? (answer with a positive number, round to the nearest penny)

In addition to these monthly expenses, other future outlays must be accounted for. Before they had a child, Sondra worked as a real estate agent, but her knowledge and skills are now somewhat outdated. Therefore, they include $30,000 for Sondra to go back to school. Additionally, Shen and Sondra want to create a college fund of $35,000 to fund their child’s college education. They estimate that final expenses (funeral costs and estate taxes) will amount to $12,000. Finally, they have taken out a loan for home improvements of $130,000 and an automobile loan of $5,000. They own their home but still have an outstanding mortgage of $300,000. Using this information, complete the next portion of Step 1 to determine the total financial resources needed. 2. Special needs     a. Spouse’s education fund   b. Child’s college fund   c. Other needs $0 3. Final expenses (funeral costs and estate taxes)   4. Debt liquidation   a. House mortgage   b. Other loans   c.…

Find her monthly cost for all the expenses.

Nancy is a widow with two teenage children. Nancy's gross income is 54200 per month, and taxes take about 22% of her income. Using the income method, Nancy calculates she will need to purchase about eight times her disposable income in life insurance to meet her needs. How much insurance should Nancy purchase?

Revere College predicts that in 18 years it will take $200,000 to attend the college for four years. Debbie wishes to save money for her child's college fund. How much should Debbie put aside in an account with an APR of 9% compounded monthly in order to have $200,000 in 18 years?

You have been hired as a benefit consultant by Jean Honore, the owner of Sweet Angels. She wants to establish a retirement plan for herself and her three employees. Jean has provided the following information. The retirement plan is to be based upon annual salary for the last year before retirement and is to provide 50% of Jean's last-year annual salary and 40% of the last-year annual salary for each employee. The plan will make annual payments at the beginning of each year for 20 years from the date of retirement. Jean wishes to fund the plan by making 15 annual deposits beginning January 1, 2025. Invested funds will earn 11% compounded annually. Information about plan participants as of January 1, 2025, is as follows. Jean Honore, owner: Current annual salary of $49,990; estimated retirement date January 1, 2050. Colin Davis, flower arranger: Current annual salary of $37.190; estimated retirement date January 1, 2055. Anita Baker, sales clerk: Current annual salary of $20,900;…

The Calvarusos have decided to invest in a college fund for their young son. They invested $40,000 in a deferred annuity that will pay their son at the beginning of every month for 4 years, while he goes to college. If the account earns 2.50% compounded monthly and the annuity payments are deferred for 15 years, what will be the size of the monthly payments?

The tucker family has health insurance coverage that pays 80 percent of out of hospital expenses after a 500 deductible per person. If one family member has doctor and prescription medication expenses of 1,100 what amount would the insurance pay?

Elton earned $120,000 working as a recording engineer last year. The total amount of his contribution into his defined contribution pension plan was $12,000. These contributions earned income of $600 during the year. Elton also owns a personal Registered Retirement Savings Plan (RRSP). Assuming he has no unused RRSP contribution room carry-forward amounts from previous years, how much money can Elton contribute to his RRSP account this year if the money purchase limit is $24,000? O $9,000 $9,600 $8,400 $21,000