Week 3 Homework
6.5 We can calculate the monthly payment based on her monthly take home pay and
Total Monthly payments= $645.00
Total Monthly take-home pay= $3,320.00
Debt safety ratio= Total monthly payments/Total monthly take-home pay x10
Week 2 Homework: Ch. 4
1) Cash management is the routine, day-to-day administration of cash and near-cash resources,
also known as liquid assets, by an individual or family. Cash management involves the
inflows and outflows of cash wit
Week 3 Homework: Ch.6 1-7, 10-13
1) There are a few reasons for using credit. A few of the reasons are: lack of large amount of funds, in
case of emergencies like sickness, accidents, or unemployment, for the convenience, etc.
2) The 2
Week 4 Homework: Ch. 8 1-7, 10, 11, 14, 15, 18, 20, 22
1) Insurance is good to have because the insurance company agrees to reimbursing or compensating you
in the occurrence of an accident or death. The aim of having life insurance is
Week 2 Homework: Ch 5
1a) Affordability: must look at the down payment amount, size of monthly instalment payable,
and year of repayment.
b) Operating cost: this involves insurance, license, gas, oil, and other costs.
c) Gas, diesel, h
Week 4 Homework: Ch. 9 1-6, 8,10-13, 17-20, 22, 23
1) The price of medical treatment has risen dramatically in the recent years. A serious illness or accident
may cause physical pain from sickness and injury and economic hurt. The inte
Week 3 Homework: Ch.7 1-2, 5, 8, 9, 10, 13, 14, 17
1) Five major reasons for borrowing consumer loans are as follows:
Auto loans: consumer loan can be borrowed for purchasing new vehicles. Auto loans are secured against
the vehicle pur
Week 2 Homework
3.5 a. This is QGs tax return using a 1040EZ which is the best choice because he is taking
standard deductions instead of itemized.
b. This is QGs tax return prepared using a 1040 which is the best choice because of his
Week 1 Homework
1.3 Personal financial goals are necessary for every person, at every age.
a. Junior in college: 1. Find a job, 2. Apply for a credit card to establish a strong
credit history, 3. Search for an apartment and save money for the deposit.
Week 4 Homework
8.2 The total life insurance requirement is calculated by need analysis method. As per
this method, we determine the amount of life insurance required by taking a persons
financial obligations and the accumulation of available financial re
Week 5 Homework
11.2 a. The stock price sold at $44.56 per share at the time of the quote. This figure is obtained
on the top left of the quote.
b. The price earnings ratio shows the market value of the share as a multiple of earnings. This
ration used fo
Week 6 Homework:
Ch. 14: 2-5, 7, 8, 11, 15, 17, 18, 19
Ch. 15: 1-3, 6-9, 11-15
2) Starting too late: one of the biggest mistakes people make. Starting too late to save for retirement will
not work out because there isnt as much