Calculate the Total Liquid AssetsMoney market account$ 3660 Medical Bills$ 860Mortgage$ 392500 Checking account$ 1060Retirement account$ 287840 Credit card balance$ 920(Round your answer to the nearest whole number.Do not includethe comma, period, and “$” sign in your response.)Your Answer:Question 2 options:Answer

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Question 3(1 point)

Calculate the Total Current LiabilitiesMoney market account$ 3520 Medical Bills$ 2320Mortgage$ 93040 Checking account$ 560Retirement account$ 168460 Credit card balance$ 200(Round your answer to the nearest whole number.Do not includethe comma, period, and “$” sign in your response.)Your Answer:Question 3 options:Answer

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Question 4(0.25 points)

Based on this financial data,calculate the debt ratio.Liabilities$ 8350 Net Worth$ 64900Liquid Assets$ 4690 Current Liabilities$ 1920Monthly Credit Payments$ 1540 Take-home Pay$ 2890Monthly Savings$ 280 Gross Income$ 3330Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 0.25, 0.09, etc. Do not include acomma or”$” sign in your response.Your Answer:Question 4 options:Answer

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Question 5(0.25 points)

Based on this financial data,calculate the Current Ratio.Liabilities$ 7830 Net Worth$ 64600Liquid Assets$ 4690 Current Liabilities$ 1360Monthly Credit Payments$ 1100 Take-home Pay$ 2970Monthly Savings$ 640 Gross Income$ 3450Make sure to include zeros and round your answer to 2 decimal places. i.e.3.55, 1.89, 0.25, 0.09, etc.Do not include acomma or”$” sign in your response.Your Answer:Question 5 options:Answer

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Question 6(0.25 points)

Based on this financial data,calculate the Debt-Payments Ratio.Liabilities$ 8490 Net Worth$ 63000Liquid Assets$ 5070 Current Liabilities$ 2260Monthly Credit Payments$ 540 Take-home Pay$ 2910Monthly Savings$ 180 Gross Income$ 3290Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc.Do not include acomma or”$” sign in your response.Your Answer:Question 6 options:Answer

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Question 7(0.25 points)

Based on this financial data,calculate the Savings Ratio.Liabilities$ 8890 Net Worth$ 70000Liquid Assets$ 5210 Current Liabilities$ 2140Monthly Credit Payments$ 700 Take-home Pay$ 3090Monthly Savings$ 580 Gross Income$ 4370Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc.Do not include acomma or”$” sign in your response.Your Answer:Question 7 options:Answer

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Chapter 3 LO 3.2

Question 8(2 points)

Question 8 options:Based on the following data, would Ann and Carl Wilton receive a refund or owe aIDitional taxes?How much?Adjusted gross income$46,750Itemized deductions$17,820Child care tax credit$550Federal income tax withheld$3,400Amount for personal exemptions$8,480 AVERAGE Tax Rate15percentEnter “tax refund” or “payment due”How much?In the block below, enter refund amount or payment due. Round your answer to the nearest whole number. Input all amounts as positive values.Omit the comma and “$” sign in your response.)

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Question 9(1 point)

Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her$80for this service. Over a period of10years, how much does Elaine gain from preparing her own tax return? Assume she can earn4percent on her savings.Use the appropriate Time Value of Money table [Exhibit 1-A,Exhibit 1-B,Exhibit 1-C, ORExhibit 1-D](Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)Your Answer:Question 9 options:Answer

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Question 10(1 point)

On December 30, you decide to make a $2600 charitable donation.If you are in the 30 percent tax bracket, how much will you save in taxes for the current year?(Round your answer to the nearest whole number.Do not includethe comma, period, and “$” sign in your response.)Your Answer:Question 10 options:Answer

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Question 11(1 point)

On December 28 each year, you are planning to make a charitable donation of $3980 and are in the 15percent tax bracket.You are planning todeposit the tax savingsin a savings account for the next 7 years at 3 percent, what will be the future value of that savings account?Use the appropriate Time Value of Money table [Exhibit 1-A,Exhibit 1-B,Exhibit 1-C, ORExhibit 1-D](Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)Your Answer:Question 11 options:Answer

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