25 min

1.Bob and Allie Katz are a married couple with three children. Their wages for 2018 totaled $125,400 with an additional $200 in interest income. They have calculated their itemized deductions to be $33,700 and also realized a short-term capital gain of $2,600. They sold stock for $13,000 in 2018 which had been purchased in 2014 for $10,000. For the year, Bob and Allie have paid $24,600 in federal taxes. They are also eligible for a tax credit of $500. Combined, they contributed $10,000 into their Roth IRA's. What is their taxable income?

2.Reading a stock quote, you see that Builtrite pays an annual dividend of $3.00 and earnings per share of $5.00 and has a PE of 15. What is the stock price for Builtrite?

3.Currently, Ally Gator has $9,000 in her Roth IRA. If Ally plans on contributing $5000 annually for next 35 years and her IRA earns 7% annually, what will her IRA be worth?

4.Ella Funt is planning on buying a $160,000 home and putting 20% down. She will finance the remainder with a 4%, 15 year mortgage through her lender. What will the total interest cost be for Ella's 15 year mortgage?

5.Billie Goat sat down and figured out that her total liabilities equaled $120,000 and her total assets equaled $200,000. What is Billie's Solvency Ratio?