subject
Business, 11.02.2021 01:20 theojw

Xavier has been working at his first post college job for almost a year when his company gives him a raise, resulting in a paychecks increase of 200, for a total of $400 extra in take home pay every month. He makes a quick list of possible ways to use that money, along with relevant notes for each. Save for fun summer vacation trip in 8 months

Estimated cost= $1000

Interest rate-- 1% - savings account

3 friends are going -- really want to join

Pay off credit card debt sooner

Balance= $6,500

Interest rate-- 20%

Completely up to date on payments

Typically pay monthly minimum only

Pay down student loan dept

Balance= $34,000

Interest rate-- 4%

Completely up to date on payments

Increase Emergency funds

Balance= $250

Interest rate-- 1% savings account

Realize this should be much higher

Have been lucky so far-- haven't used the account once yet

Participate in company 401(k) plan

Not participating yet

Interest rate-- Variable

Company will match dollar for dollar up to 5% of my salary ($250) a month)

Finance Nicer, more reliable car

Estimated cost- $25,00

Interest rate-- 6%

Currently driving 14-year-old car paid for in cash at a time for purchase

No down payment currently saved

Provide a detailed plan, including actual dollar amounts, for Xavier to wisely use the extra $400 per month from his raise. For each part of the plan, briefly describe why you're making this choice

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 21:00
The county collector of suncoast county is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. to reimburse the county for estimated administrative expenses of operating the tax agency fund, the agency fund deducts 1.5 percent from the collections for the town, the school district, and the other towns. the total amount deducted is added to the collections for the county and remitted to the suncoast county general fund.the following events occurred in 2017: 1. current-year tax levies to be collected by the agency were: county general fund $ 10,333,000 town of bayshore general fund 4,840,000 suncoast county consolidated school district 6,550,000 other towns 3,120,000 total $ 24,843,000 2. $13,700,000 of current taxes was collected during the first half of 2017.3. liabilities to all funds and governments as a result of the first half-year collections were recorded. (a schedule of amounts collected for each participant, showing the amount withheld for the county general fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction.)4. all cash in the tax agency fund was distributed.requireda. prepare journal entries for each of the foregoing transactions that affected the tax agency fund. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1. record the current-year tax levies to be collected by the agency.2.record the current taxes collected during the first half of 2017.3.record the liabilities due to all funds and governments at the end of first half-year.4. record the distribution of all cash in the tax agency fundb. prepare journal entries for each of the foregoing entries that affected the town of bayshore general fund. begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1.record the revenues receivable and uncollectible.2. record the taxes collected
Answers: 3
question
Business, 21.06.2019 23:00
What is overdraft protection (odp)? a.) a cheap and easy way to always avoid overdrawing a bank account b.) a service to automatically transfer available funds from a linked account to cover purchases, prevent returned checks and declined items when you don’t have enough money in your checking account at the time of the transaction. c.) an insurance policy sold by banks to prevent others from withdrawing your money d.) a service provided by the government that insures individuals bank deposits up to $250,000
Answers: 2
question
Business, 22.06.2019 17:50
Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?
Answers: 1
question
Business, 23.06.2019 01:30
Which of the following is considered part of a country’s infrastructure?
Answers: 3
You know the right answer?
Xavier has been working at his first post college job for almost a year when his company gives him a...
Questions
question
Health, 05.10.2020 03:01
Questions on the website: 13722367