Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Help me please!! Name Banks, Credit & the Economy D. It's Called Money, Honey. Below is a list of E. Banking Blunders. Each of these
Help me please!!
Name Banks, Credit & the Economy D. It's Called Money, Honey. Below is a list of E. Banking Blunders. Each of these people has everything Sam has and how much it's worth. made a banking mistake. Read what they're Mark the things that are considered money. Then saying and tell them where they're going wrong. add to find out how much money Sam has. I don't want two bank accounts. I'll just get a O Home: Trailer and land worth $100,000; saving account, and each month I'll have my bills electronically deducted. Let's see... rent, phone, owes $83,000 electric, water, cable, insurance, internet, gym... O Coins in old jar on desk: $ 15.62 Scott Sound O Chicken coop: 1 dozen eggs per day, worth Problem: $2/dozen O Saving account balance: $4,023.77 This awesome sound system is on sale for $1,543! O Paper bills inside wallet: $47 I've only got $800 in my checking account, but O Personal items: Household stuff worth that's okay-I'll pay for it with my debit card. about $2,500 O Vehicle: 2002 pickup truck Problem: worth $2,200 O Checking account balance: My girlfriend wrote a love poem on a $5 bill $567.90 and I accidentally deposited it into my saving O Act of kindness: Brother owes account! I'll go make a $5 withdrawal. They'll him $175 get it from the vault and give it back. Problem: My grandma gave me $500 for my birthday and helped me open a savings account. Tomorrow I'm quitting my pizza delivery job, because now the bank's going to pay me! 04331.29 Problem: Sam has this much money: $_ F. An Interesting Situation. People can end up, paying a lot extra for a car because they only pay attention to the monthly payment they're being offered. Which of these loans will cost you MORE? Hey! You can drive away in this brand 0 456.07/month M 292.17/month new car TODAY for only $456.07 a month. Too Much? Does $292.17 a This is a 4-year loan. You'll This is a 7-year loan. You'll month sound better? ALL RIGHT! make this monthly payment make this monthly payment for 48 months. Do the math: for 84 months. Do the math: 456.07 292.17 They're bu X 48 X 84 Even $20,000 You'll end up paying this much: You'll end up paying this much: $ $ _ (Shorter loans usually have lower (Longer loans usually have higher interest rates. This rate was 4.5%) interest rates. This rate was 6%.) iCIVICS 2023 ICivics, IncStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started