FIN 301
IRA withdrawals can be made without tax penalty any time after you reach the age of 59.5
True
If you buy a zero coupon bond, you will receive no cash from the corporation until the bond matures
True
Marilyn is purchasing a new car of 30,000. She can make a 3,000 down payment, and will make 60 monthly payments of 500 each. What is the principal balance of the loan
27,000
The higher the tax bracket you are in, the more attractive the purchase of municipal bond becomes
True
The money factor on an auto lease is similar to the interest rate on a loan
True
You can deduct mortgage interest and property taxes on your home to reduce your federal income taxes only if you itemize deductions
True
The market price of a house is 125,000 and the homebuyer will borrow 100,000. Two points will equal 2000
true
One's average tax rate is typically lower than one's marginal tax rate
True
Banks and other financial institutions insure the contents of safe-deposit boxes
False
John anderson deposited 10,000 in a CD for 3 years at 5%, it should now be worth
11,580
Shrek is purchasing a used Honda accord. the dealership is offering an annual interest rate of 12% on a 2 year loan. the car is 10000. What will shrek's payment be?
470.73
What can you do if your budget shows an annual budget deficit
All of the above
The majority of each monthly payment at the beginning of the loan goes to pay
Interest
In which of the following situations would you have to pay additional money when returning a vehicle using a closed-end lease
Mileage limits were exceeded