3. If your total assets equal $87,000 and your total liabilities equal $10,000, your solvency ratio...

3. If your total assets equal $87,000 and your total liabilities equal $10,000, your solvency ratio is

	a.	11.5%.
	b.	13.0%.
	c.	77.0%.
	d.	87.0%.
	e.	88.5%.

4. Which of the following are reasons people lease vehicles?

	a.	Leasing is generally less expensive than buying.
	b.	Monthly payments for leases are generally less expensive than loan payments.
	c.	One can afford a more expensive car with the same monthly payment by leasing rather than buying.
	d.	b and c only
	e.	a, b, and c

5. What is the maximum amount a first-time home buyer who is not 59½ years old can withdraw from an IRA without penalty?

	a.	$25,000
	b.	$15,000
	c.	$10,000
	d.	$5,000
	e.	$2,000

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Expert Solution

jeff jeffy answered 1 year ago

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