Sampson has a list of items that are on sale to pick up at the store. The sale items are the following: Ice cream – $1.89 Sweet corn – 3 for $1 Bananas – $0.49 per pound Sampson buys 1 carton of ice cream, 4 ears of corn, and 2.5 pounds of bananas. His receipt is shown below. Swt corn 2@3/$1 $0.67 Bananas 2.5 [email protected] $1.23 Ice crm [email protected] $2.49 Store discount for ice crm $0.60 -$0.60 Swt corn 2@3/$1 $0.67 Determine if Sampson's receipt is correct.
Use the following table to help answer the question below.StateSingle-earner2-person3-person4-personFlorida$41,226$52,259$58,574$69,009Georgia$40,691$55,258$61,104$68,502Missouri$39,645$51,568$60,371$71,059Texas$38,940$55,859$59,222$66,381Virginia$48,362$65,122$74,151$85,939A family of 2 that has a monthly income of $4,650 is thinking about filing bankruptcy. In order to file for Chapter 7 bankruptcy, in which of the following states could the family be living?
Which of the following best describes a way of safeguarding personal information?
While out shopping for new clothes, Xaoting sees a sign for cozy socks advertised on sale for $3.50 per pair. The regular price of the socks is $5 per pair. Xaoting buys 3 pairs and notices that the socks do not ring up at the advertised sale price, so she has the cashier do a price check. If the sales tax is 8%, how much does Xaoting save by paying attention at the register?
Xi-ling has a net income that is 5% of her monthly salary of $2,315. Xi-ling would like to keep a net income of $50 and put any additional money towards paying down debt. How much more can Xi-ling put towards paying down debt each month?
Addison has a balance of $3,450 on her credit card that has an APR of 18%. She currently pays the minimum monthly payment of $86.25. If Addison wants to pay off her balance in 24 months, determine the monthly payments she would need to make. Choose the following modification with the least cuts to her current expenses that will allow Addison to pay off her balance in 24 months.IncomeWages$2,278.00ExpensesRent$950.00 Utilities$232.45 Food/Clothes$445.00 Entertainment$270.00 Car$200.00 Credit Card$86.25 Cell Phone$77.89Net Income $16.41
A person who filed bankruptcy in the past is able to get a 30-year mortgage loan at a rate that is 6% higher than what they could have received if they had not filed. The interest rate this person pays on a $150,000 loan is 11%, compounded monthly.Assume the person could have received the lower interest rate on the loan and saved all of the difference in the payments for the first 10 years of the loan. If this person invested this total amount in an account paying simple interest at the rate of 2.5%, how much money would have accumulated in interest by the time the mortgage is paid off?
A couple finds that they are experiencing debt problems and decide to find a credit counseling agency. What are three (3) things that the couple should find out about an agency before they allow the agency to represent them?
Mr. Jones has a monthly income of $5,600. He wants to identify his monthly variable expenses to see if they are more than 38% of his monthly income. Mr. Jones has fixed expenses totaling $2,912 and his net income is 12% of his monthly income. Determine the total of Mr. Jones's variable expenses and if they are more than 38% of his monthly income.
Frank has four different credit cards, the balances and interest information of which are outlined in the table below. As Frank was developing a debt payment plan, Charles suggested that he pay off the credit cards beginning with the highest balance, working his way down. If Frank chooses to follow Charle’s advice, in what order should Frank plan on paying off his credit cards?Credit CardBalanceAPRA$2,380 19%B$4,500 15%C$1,580 17.50%D$900 21%
Describe the key things that set predatory lenders apart from other lenders.
Manny wants to find ways to reduce his current debt. The table below shows Manny’s monthly income, expenses and net income. Monthly BudgetAmountIncomeWages$3,000.00ExpensesRent$1,200.00 Utilities$269.34 Entertainment$220.00 Food/Clothes$368.00 Cell Phone$89.42 Credit Card #1$94.62 Credit Card #2$36.18 Car Insurance$80.00 Car Payment$300.00 Gym Membership$25.00Net Income $317.44 After evaluating Manny’s monthly budget, which of the following would be the best option to reduce his debt?
Which of the following phrases best summarizes Chapter 13 bankruptcy?
Kimberly has a credit card with a 19% APR and a balance of $4,350. With her current monthly payment, Kimberly will be able to pay off the credit card in a mere 16 months. But when Kimberly's car breaks down, she is forced to charge an additional $1,600 to her credit card. How much will Kimberly's minimum monthly payment increase if she still wants to pay off her credit card in 16 months?
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