Adriana Lima would like to finance the purchase of her car If she borrows $34,000 as a five year loan from the bank and the bank requires her to make end of month payments $700, what is the annual interest on her loan if interest is compounded daily and the loan is completely paid off at the end of the five year period 2 pts (Show your calculations) Isabella (25 yr old) and Chris (35 yr old) graduated from Tulane University and began working in the family business The first year, Isabella began putting $3,000 per year in a registered retirement saving plan (RRSP) and contributed to it for a total of 10 years After that time, she made no contributions until she retired at age 65 Chris did not start making contributions to his RRSP until he was 55, but he continued making contributions of $3,000 per year until he retired at age 65 Assuming that both Isabella and Chris receive 12 interest compounded annually per year, how much will Isabella have at retirement How much did she contribute in total How much will Chris have at retirement How much did he contribute in total 4 pts (Show your calculations) Jay Jessica Haim have the following assets Chequing account ($3,000), cash ($500), saving account ($2,500), home ($185,000), cars ($25,000), furniture ($20,000), and investments ($65,000) and the following liabilities Mortgage ($93,000), car loan ($3,750), credit card balance ($10,000), student loans ($25,000), and furniture loan6months ($4,500) What are their current liabilities What are their long term liabilities What is their net worth Jay and Jessica would like to trade in one of their cars, which has a fair market value of $8,000, for a new one with a fair market value of $34,000 The dealer will take their car and provide a $26,000 loan for the new car If they make this deal, what will be the effect on their net worth What is Jay and Jessicas current ratio What is their debt to asset ratio 6 pts (Show your calculations) Tuba Buyukustun has a $100,000 salary and $8,500 dividend income this month This month she has rent and utilities of $6,000 and she spent $2,560 on groceries and $9,540 on clothing What is her net cash flow this month 2 pts (Show your calculations)

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Posted on Sep 17, 2024

Adriana Lima would like to finance the purchase of her car. If she borrows $34,000 as a five-year loan from the bank and the bank requires her to make end-of-month payments $700, what is the annual interest on her loan if interest is compounded daily and the loan is completely paid off at the end of the five-year period? [2 pts] (Show your calculations)

Isabella (25 yr. old) and Chris (35 yr. old) graduated from Tulane University and began working in the family business. The first year, Isabella began putting $3,000 per year in a registered retirement saving plan (RRSP) and contributed to it for a total of 10 years. After that time, she made no contributions until she retired at age 65. Chris did not start making contributions to his RRSP until he was 55, but he continued making contributions of $3,000 per year until he retired at age 65. Assuming that both Isabella and Chris receive 12% interest compounded annually per year, how much will Isabella have at retirement? How much did she contribute in total? How much will Chris have at retirement? How much did he contribute in total? [4 pts] (Show your calculations).

Jay & Jessica Haim have the following assets: Chequing account ($3,000), cash ($500), saving account ($2,500), home ($185,000), cars ($25,000), furniture ($20,000), and investments ($65,000); and the following liabilities: Mortgage ($93,000), car loan ($3,750), credit card balance ($10,000), student loans ($25,000), and furniture loan6months ($4,500). What are their current liabilities? What are their long-term liabilities? What is their net worth? Jay and Jessica would like to trade in one of their cars, which has a fair market value of $8,000, for a new one with a fair market value of $34,000. The dealer will take their car and provide a $26,000 loan for the new car. If they make this deal, what will be the effect on their net worth? What is Jay and Jessicas current ratio? What is their debt-to-asset ratio? [6 pts] (Show your calculations)

Tuba Buyukustun has a $100,000 salary and $8,500 dividend income this month. This month she has rent and utilities of $6,000 and she spent $2,560 on groceries and $9,540 on clothing. What is her net cash flow this month? [2 pts] (Show your calculations)