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Author Archives: Anonymous

How much does one discount point cost on a $120000 mortgage…

How much does one discount point cost on a $120000 mortgage for a $200000 home? 

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If Michael has a 32% chance of having his car stolen next ye…

If Michael has a 32% chance of having his car stolen next year and the average loss of a stolen car is $11,000, then the expected cost of the loss to him would be 

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Rosa graduated at the top of her high school class, and has…

Rosa graduated at the top of her high school class, and has set the following goal as part of her financial plan: “graduate from college with a B.S. in Business Management.” Which aspect of the SMART goal model is missing from her goal?

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Erikka estimates that her take-home pay for the coming year…

Erikka estimates that her take-home pay for the coming year will be $1420 per month. She expects total monthly expenses to be as follows: housing and utilities, $800; food, $200; auto, gas, and insurance, $220; credit card payment, $60; and other expenses $100. The balance on her credit card is $3000, and she currently pays 18 percent interest on this balance. Erikka would like to reduce her credit card debt. If she decides to budget all of her net monthly cash flow to this goal, how much extra money will she pay toward the credit card debt each month? Enter your answer as a dollar amount (no $ sign).  Round to the nearest whole number.

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A stock is currently selling for $50 per share, representing…

A stock is currently selling for $50 per share, representing a price increase of $10 for the year, and there are 2 million shares outstanding. The company recently reported net income of $2 million. The annual dividend per share is $1. What is the company’s P/E ratio?

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Kenneth would like to save money to pay for his daughter’s c…

Kenneth would like to save money to pay for his daughter’s college expenses. He estimates that he will need $[FV] over the next [years] years. How much will he need to invest at the end of each year for [years] years to achieve his savings goal if he can earn [rate]% per year on the investment and he makes end-of-year payments? Enter your answer as a dollar amount (no $ sign). Round to the nearest dollar.

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A family of three has monthly expenses of $[expenses] and $[…

A family of three has monthly expenses of $[expenses] and $[assets] saved in the bank.  If they should run into financial need (like the loss of a job), how long will they be able to survive if they do not change their lifestyle? Question: How many months can the family survive? Enter your answer in months, rounded to 1 decimal place.

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A stock is currently selling for $70 per share, representing…

A stock is currently selling for $70 per share, representing a price increase of $10 for the year, and there are 1 million shares outstanding. The company recently reported net income of $3 million. The annual dividend per share is $1. What is the company’s P/E ratio?

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The following amounts were earned on Ethan’s portfolio last…

The following amounts were earned on Ethan’s portfolio last year: $250 interest income, $100 dividend income, $500 short-term capital gain, and $1,000 long-term capital gain. If Ethan is in the 32% tax bracket, what is the total amount he will pay in taxes on his investment earnings?

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Which of the following statements is false regarding closed-…

Which of the following statements is false regarding closed-end funds?

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