calculate the Total Liquid Assets
Money market account  $ 3660  Medical Bills  $ 860 
Mortgage  $ 392500  Checking account  $ 1060 
Retirement account  $ 287840  Credit card balance  $ 920 
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:
Question 2 options:
Answer 
Save
Question 3 (1 point)
Calculate the Total Current Liabilities
Money market account  $ 3520  Medical Bills  $ 2320 
Mortgage  $ 93040  Checking account  $ 560 
Retirement account  $ 168460  Credit card balance  $ 200 
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:
Question 3 options:
Answer 
Save
Question 4 (0.25 points)
Based on this financial data, calculate the debt ratio.
Liabilities  $ 8350  Net Worth  $ 64900 
Liquid Assets  $ 4690  Current Liabilities  $ 1920 
Monthly Credit Payments  $ 1540  Takehome Pay  $ 2890 
Monthly Savings  $ 280  Gross Income  $ 3330 
Make 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 a comma or”$” sign in your response.
Your Answer:
Question 4 options:
Answer 
Save
Question 5 (0.25 points)
Based on this financial data, calculate the Current Ratio.
Liabilities  $ 7830  Net Worth  $ 64600 
Liquid Assets  $ 4690  Current Liabilities  $ 1360 
Monthly Credit Payments  $ 1100  Takehome Pay  $ 2970 
Monthly Savings  $ 640  Gross Income  $ 3450 
Make 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 a comma or”$” sign in your response.
Your Answer:
Question 5 options:
Answer 
Save
Question 6 (0.25 points)
Based on this financial data, calculate the DebtPayments Ratio.
Liabilities  $ 8490  Net Worth  $ 63000 
Liquid Assets  $ 5070  Current Liabilities  $ 2260 
Monthly Credit Payments  $ 540  Takehome Pay  $ 2910 
Monthly Savings  $ 180  Gross Income  $ 3290 
Make 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 a comma or”$” sign in your response.
Your Answer:
Question 6 options:
Answer 
Save
Question 7 (0.25 points)
Based on this financial data, calculate the Savings Ratio.
Liabilities  $ 8890  Net Worth  $ 70000 
Liquid Assets  $ 5210  Current Liabilities  $ 2140 
Monthly Credit Payments  $ 700  Takehome Pay  $ 3090 
Monthly Savings  $ 580  Gross Income  $ 4370 
Make 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 a comma or”$” sign in your response.
Your Answer:
Question 7 options:
Answer 
Save
Chapter 3 LO 3.2
Question 8 (2 points)
Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes? How much?
Adjusted gross income  $  46,750  Itemized deductions  $  17,820  
Child care tax credit  $  550  Federal income tax withheld  $  3,400  
Amount for personal exemptions  $  8,480  AVERAGE Tax Rate  15  percent  

Enter “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.)
Save
Question 9 (1 point)
Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $80 for this service. Over a period of 10 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 4percent on her savings.
Use the appropriate Time Value of Money table [Exhibit 1A, Exhibit 1B, Exhibit 1C, OR Exhibit 1D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:
Question 9 options:
Answer 
Save
Question 10 (1 point)
On December 30, you decide to make a $2600 charitable donation. If you are in the 30 percent tax bracket, how much will you save in taxes for the current year?
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:
Question 10 options:
Answer 
Save
Question 11 (1 point)
On December 28 each year, you are planning to make a charitable donation of $3980 and are in the 15 percent tax bracket. You are planning to deposit the tax savings in a savings account for the next 7 years at 3 percent, what will be the future value of that savings account?
Use the appropriate Time Value of Money table [Exhibit 1A, Exhibit 1B, Exhibit 1C, OR Exhibit 1D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:
Question 11 options: