CHAPTER 2 ASSIGNMENT Your client is having trouble figuring out where all her money goes each month. Here is her financial information for you to review: $355* STOCKS IN BROKERAGE ACCT $5,500 MASTER CARD BILL $245* MONTHLY PAYCHECK (GROSS) $3,000 PAYROLL TAX WITHHELD $ 600 MONTHLY VISA BILL MONTHLY MORTGAGE PAYMENT $530 MUTUAL FUNDS $2,100 401(K) RETIREMENT ACCT $4,500 MONTHLY CAR PAYMENT $265 MONTHLY UTILITY BILL $275* SAVINGS ACCT BALANCE $2,300 MONTHLY CLOTHING EXPENSES $45 CHECKING ACCOUNT BALANCE QUARTERLY AUTO INSURANCE (NOT YET DUE) ANTIQUE COIN COLLECTION CONDOMINIUM MONTHLY GROCERIES AUTOMOBILE FURNITURE MORTGAGE BALANCE AUTO LOAN BALANCE OTHER PERSONAL PROPERTY OTHER MONTHLY CASH EXPENSES ANNUAL MEDICAL EXPENSES $825 $450 $3,250 $65,000 $225 $9,000 $5,500 $50,000 $4,225 $8,000 $150 $264
CHAPTER 2 ASSIGNMENT Your client is having trouble figuring out where all her money goes each month. Here is her financial information for you to review: $355* STOCKS IN BROKERAGE ACCT $5,500 MASTER CARD BILL $245* MONTHLY PAYCHECK (GROSS) $3,000 PAYROLL TAX WITHHELD $ 600 MONTHLY VISA BILL MONTHLY MORTGAGE PAYMENT $530 MUTUAL FUNDS $2,100 401(K) RETIREMENT ACCT $4,500 MONTHLY CAR PAYMENT $265 MONTHLY UTILITY BILL $275* SAVINGS ACCT BALANCE $2,300 MONTHLY CLOTHING EXPENSES $45 CHECKING ACCOUNT BALANCE QUARTERLY AUTO INSURANCE (NOT YET DUE) ANTIQUE COIN COLLECTION CONDOMINIUM MONTHLY GROCERIES AUTOMOBILE FURNITURE MORTGAGE BALANCE AUTO LOAN BALANCE OTHER PERSONAL PROPERTY OTHER MONTHLY CASH EXPENSES ANNUAL MEDICAL EXPENSES $825 $450 $3,250 $65,000 $225 $9,000 $5,500 $50,000 $4,225 $8,000 $150 $264
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 2FPE
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