George Wilkins checked the spreadsheet where he keeps track of his assetsand liabilities. He discovered that (i) he owes $80,000 on his house, whichhe believes to be worth $150,000; (ii) his car is worth $20,000, against whichthere is $2,000 on the remaining bank loan; (iii) his stock portfolio has risen to$50,000; (iv) he has a $10,000 balance in his bank account, which is earninga 1.2 percent annual interest rate; and (v) the value of his other belongings is$45,000. He has just received his monthly paycheck for $6,000 and he is tryingto decide about taking a vacation and whether or not to pay off his car loan. Hismonthly expenses are $3,000 which includes the interest expense on his autoloan. He has two possible vacation choices: the Bahamas for $2,000 or a localbeach for $1,000. If he has any money left over at the end of the month, it willgo into his bank account. If he doesnt have enough money to cover all of hisexpenses for the month, he will sell enough of his stock to cover the excessexpenses.Use a spreadsheet to input each of Georges assets, (i) to (v), in the firstcolumn; the value of these assets in the second column; and the liabilities(if any) against those assets in the third column. In the fourth column computethe net asset value of each of the assets. Total the fourth column to determineGeorges net worth at the beginning of the month.Compute the additional net income that George will have from his paycheckplus the interest on his bank account minus the monthly expenses. Use thisinformation to answer parts (c) through (f) below.Repeat part (a) for the end of the month assuming George does not take avacation and pays off his auto loan.Repeat part (a) for the end of the month assuming George takes the Bahamasvacation and only pays $1,000 on the principal of the auto loan.Repeat part (a) for the end of the month assuming that George takes the localbeach vacation and pays off his auto loan.Repeat part (a) for the end of the month assuming George takes the Bahamasvacation and pays off the auto loan.
George Wilkins net worth
“Struggling with a similar assignment?” We can help!!
How it works – it’s easy
Place your Order
Submit your requirements through our small easy order form. Be sure to include and attach any relevant materials.
Make a payment
The total price of your order is based on number of pages, academic level and deadline.
We assign the assignment to the most qualified tutor. When the tutor completes the assignment, it is transferred to one of our professional editors to make sure that the assignment meets all of your requirements.
Once complete, we’ll send your assignment via the email provided on the order form.