Traditional IRA calculator. (n.d.). Retrieved July 10, 2016, from
1. Computing Taxable Income. Ross Martin had the following tax information:
Gross salary, $52,145
Interest earnings, $205
Dividend income, $65
One personal exemption, $3,900
Itemized deductions, $9,250
Adjustments to income, $1,200
2. Determining Tax Dedu
1. Calculating the future value of property. Ben Collins plans to buy a house for $220,000. If that real
estate is expected to increase in value by 3 percent each year, what will its approximate value be seven
years from now?
Value year of purchase = $220
1. What situations might have created the budget deficit for the Constantine family?
The Constantine family have several situations that constituted to their budget deficit. For
one they could have reduced their tendency to eat out and cook more. A good p
1. Calculating Balance Sheet Amounts. Based on the following data, compute the total
assets, total liabilities, and net worth.
Liquid assets $4,670
Household assets $93,780
Investment assets 26,910
Long-term liabilities 76,230
Current liabilities 2,670
1. Lets assume the Lawrences will qualify for a 6%, 30-year loan and will make a down
payment of 10%. They are currently paying $300 on a used car auto loan for Shelby and
will pay $220 per month for property taxes and homeowners insurance. Using the
Your Life Span? Ask the Calculator
The article Your Life Span? Ask the Calculator posted on Kiplingers Personal Finance
explains the benefits of using online calculators to estimate how long an individual will live. The
article explains how there are seve
1. Computing Actual Cash Value Coverage. What amount would a person with actual cash value (ACV)
coverage received for two-year-old furniture destroyed by a fire? The furniture would cost $1,000 to
replace today and had an estimated life of five years.
Shelby Johnson has a flair for grooming dogs and cats. She hopes to open her own pet salon
when she graduates from college. She is currently completing her sophomore year in business
while working at a local pet store. Shelby has been living with a roomma
1. In order for Shelby to reduce her credit card debt she will have to reduce spending or increase
income in order to make more than minimum payments on the credit card. Considering the fact
that Shelby is no longer attending classes and has no dependents
1. Calculating Future Value. You can purchase a service contract for all of your major appliances for $180 a year. If
the appliances are expected to last for 10 years and you earn 5 percent on your savings, what would be the
future value of the amount you
1. What are the steps that Shelby and Mark should take to prepare for an Investment Program?
- Establish their investment goals.
- Determine how much money they will need to obtain their goals.
- Specify the current amount of money they have to invest
MGMT 333 Personal Financial Planning
Dr. Jamiel Vadell
January 06, 2016
The organizations listed on this assignment all valuable information on the subject of
personal finances. Par