Johns Personal Monthly Budget Budget Budget Income $3,710 Interest 90 TOTAL INCOME 3,800 Taxes 628 Rent 855 Vehicle Insurance 190 Food and Eating out 297 Car Payment 390 Student Loans 302 Sports and Hobbies 235 Phone and Household 100 Retirement 223 Vacations 295 Credit Cards 280 TOTAL EXPENSES $3,795 SURPLUS (OR DEFICIT) Johns Balance Sheet Assets Checking $325 Savings 1,140 Automobile 11,500 Motorcycle 3,780 Furnishings 755 Clothes 2,050 Other Household 900 Sports Equipment 2,700 Collections 730 401(k) 19,500 TOTAL ASSETS $43,380 Liabilities Credit Cards $3,500 Student Loans 27,000 Car Loans 3,250 TOTAL LIABILITIES $33,750 Assume that John paid $410 for his collections If he sold the collections today for market value and paid no sales fee or commission, what would be his total capital gain What is this amount in terms of a percentage (Round answer to 0 decimal place, e g 5275 )

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Posted on Jul 11, 2024

Johns Personal Monthly Budget Budget Budget Income $3,710 Interest 90 TOTAL INCOME 3,800 Taxes 628 Rent 855 Vehicle Insurance 190 Food and Eating out 297

Johns Personal Monthly Budget Budget

		Budget
Income		$3,710
Interest		90
TOTAL INCOME		3,800
Taxes		628
Rent		855
Vehicle Insurance		190
Food and Eating out		297
Car Payment		390
Student Loans		302
Sports and Hobbies		235
Phone and Household		100
Retirement		223
Vacations		295
Credit Cards		280
TOTAL EXPENSES		$3,795
SURPLUS (OR DEFICIT)

Johns Balance Sheet

Assets
Checking		$325
Savings		1,140
Automobile		11,500
Motorcycle		3,780
Furnishings		755
Clothes		2,050
Other Household		900
Sports Equipment		2,700
Collections		730
401(k)		19,500
TOTAL ASSETS		$43,380
Liabilities
Credit Cards		$3,500
Student Loans		27,000
Car Loans		3,250
TOTAL LIABILITIES		$33,750

Assume that John paid $410 for his collections. If he sold the collections today for market value and paid no sales fee or commission, what would be his total capital gain? What is this amount in terms of a percentage? (Round answer to 0 decimal place, e.g. 5275.)