1. Josephs monthly gross income is $4400, and his monthly disposable income is $3300. He saves approximately $400 a month. What is his savings ratio?

A) 24.24%

B) 36.36% C) 12.12%

2. Dorothy plans to retire in 45 years. If she saves $7400 per year and earns 8.0% interest, compounded annually, approximately how much money will she have in her account when she retires?

A) $2.9 million

B) $1.9 million

C) $5000000

D) $2100000

3. Assess Jamess personal finances using the following balance sheet information.

Assets				Debts
Bank accounts		$2,000		Current bills		$1,500
Car		5,000		Student loan		11,000
Personal assets		2,000		Car loan		3,700

(a)

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

What is Jamess net worth?