Final

1.     Find the budget (x) for each scenario so that money is evenly distributed for each day: (DO NOT USE 50/30/20 Rule)

a.      Fatima gets $20 dollars every week for school days (5 days) and needs to create a budget for the week

b.     Ishmael receives $1,050 dollars per week from work (7 days). What should his budget be?

c.      Chris found $200 dollars and wants to budget it for his upcoming school week (5 days)

d.     Kwame earned $60,030 dollars last month from his stock investments (30 days), what should his budget be?

2.     Shanae earns $1,500 a week at her job, $750 a week from the tutoring she offers in math, $1,200 a week from her YouTube channel, and $3,000 a week from stock investments that she’s made over the years.

a.      What is the total amount of income that Shanae earns per week (7 days)?

b.     What should her budget be for each segment when using the 50/30/20 Rule. (Label each figure.)

 

3.     It’s Friday and Toussaint just got paid. He earns $10,000 a month in salary from his position as a software engineer. He also has a stock portfolio that he just started, earning him $400 per month, some properties that earn him $4,000 per month from renting out the apartments, and he has an online homemade lemonade business that earns him $12,000 per month. He spends $700 a month on his car, $100 in insurance and maintenance on the car, $3,000 per month to help his parents and family out, and he shops a lot with his credit card, and that spending comes up to around $3,600 for the month. In addition, he spends $1,000 per month on groceries and restaurants with family, $150 per month on streaming services, and $3,000 per month on housing. These are all of his different incomes and expenses. What would be his total income for the month? What is his total expenses? And what is his net income/loss for the month?

4. 4. You are transported to Ancient Kemet and there is no money, everyone is conducting business through the Barter System. An Ox barters for 3 horses, 1 horse barters for 10 ostriches, and 1 ostrich barters for 2 camels. With this system, how many camels equal 3 oxen?

5.     Draw a balance sheet for this word problem and find the net worth of this individual:

 

Rafiki is a famous public speaker in New York. He thought it would be fun to calculate his net worth to seeing that he has been doing so well financially. His items are as follows, a car loan for $28,000, a car collection worth $1.9 million,  real estate properties worth $12.3 million, a school loan totaling $300,000, credit card debt totaling $27,500, home worth $20.1 million, a mortgage for his other home totaling $17 million, personal loans for $500,000, and a stock portfolio with $979,000. He also holds $100,000 in cash in his checking account and has a retirement account with $2.3 million.

An organized document that expresses the strategy that a

business has to reach its goals and objectives, as well as what

they are. The outline of your business, including everything about the business and what you plan to

do.

An organized document that expresses how a business plans to earn money. The outline of how it will earn money

A medium of exchange.                                    

an item, action, or anything that increases the likelihood of

earning money. Something that appreciates in value, like trading cards that rise in value and can

be resold for more money.

One of the Black Wall Streets, where from 1906-1921, a thriving community was built of all African Americans, where they practiced group economics and wealth development. It was later bombed out of the inferiority complex of neighboring communities