Homework Answers
First of all, the question is open ended. Financial advisors advise to spend only 30% of income for house rent payment because there would be lot of other expenses along with rent payments. This number is derived based upon sample size taken and estimating the rent payments to their overall income. Considering other expenses, savings, advisors have reached this number. However if we take a random sample and try to analyze numbers, it might vary a lot.
With 30% of income, households can afford any type of rent. Even that depends on the income. If income is high, they can enjoy a luxury house and income is low they cannot enjoy such luxuries. So, answer depends on income.
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4. Financial advisors recommend that you only use 30% of your monthly income to pay for...
Some financial advisors recommend you increase the amount of federal income taxes withheld from your paycheck...
Some financial advisors recommend you increase the amount of federal income taxes withheld from your paycheck each month so that you will get a larger refund come April 15th. That is, you take home less today but get a bigger lump sum when you get your refund. Based on your knowledge of the time value of money, what do you think of this idea? Explain.
1. THE TIME VALUE OF MONEY Some financial advisors recommend you increase the amount of federal...
1. THE TIME VALUE OF MONEY Some financial advisors recommend you increase the amount of federal income taxes withheld from your paycheck each month so that you will get a larger refund come April 15th. That is, you take home less today but get a bigger lump sum when you get your refund. Based on your knowledge of the time value of money, what do you think of this idea? Explain. 2. INTEREST RATE RISK Define what is meant by...
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MATLAB!!! CAN SOMEONE SOLVE THIS PROBLEM ON MATLAB?? THANK
YOU
PART B: HOUSING LOAN CALCULATOR In this part of the assignment, you are expected to develop a program that calculates housing loan pay- ments based on compound interest formulas The program should prompt a user to input the amount borrowed (principal), p, the number of monthly payments, n, and an annual interest rate in R percent. The program should convert the annual interest rate R into a monthly interest rate...
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More Calculator Practice-Borrowing Capacity Use your calculator to solve the following problems. You can default to Exc...
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If the credit card has an annual interest rate of 13.6% and only the minimum monthly payment of $35 is made, how many months will it take to pay off the credit card?
Part 2: Credit Cards Another type of personal loan is a credit card. A financial institution allows you to charge a purchase to your account, and you are required to pay the financial institution at a later time. As with other loans, credit cards charge interest. Interest rates can range from 3% - 22%. When you are paying for debt on a credit card, the financial institution will require a minimum balance be paid each month. The higher the interest rate that is charged...
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,000 for 3. Suppo e it i" now 10years later, and wait tobaya-rest at 6% i You pay 810 the rest monthly) (a) Find the monthly payment years required to amorti b) How much total will you pay in interest for this loan? 4. Now suppose that instead of buying a house, you decided to rent one for less (and spend the $10,000 on a luxury vacation). You can use the monthly savings to deposit $500 at the end of...
MATLAB!!! CAN SOMEONE SOLVE THIS PROBLEM ON MATLAB?? THANK
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