inelastic collision
ADMS 3541 Winter 2014
Assignment 1
Due Dates
Section N: Tuesday, February 11th
Section O: Wednesday, February 12th
Section M: Thursday, February 13th
Instructions:
Each group must submit the assignment to the instructor at the beginning of class on the date the assignment is due. When completing your assignment, please observe the following rules and guidelines:
1. Textual portions must be typed and double-spaced. This does not include variables, labels and brief notes of explanation. Use at least one inch margins all around.
2. Double-sided is preferred, if you can do it with your printer.
3. Use 8 ½ X 11 paper only.
4. Do not use report covers.
5. Staple your assignment prior to handing it in.
6. Be sure to write clearly your names, student numbers, section, and due date on the cover page.
7. Spelling and grammar will affect your marks.
8. No assignments will be accepted after the last class.
Problem #1: Financial Statements (36 marks)
1. Use the following information on Stan’s finances in 2013 to answer the questions below. Assume all balance are reported as of December 31, 2013
Monthly take-home salary
Monthly rent payments
Monthly income from side tech consulting business
Checking account balance
Savings account balance
Monthly automatic savings deposit
Cell phone bill
Monthly auto loan payment
RRSP account balance
Future Shop Credit Card Balance (24.99% APR)
Monthly utility expenses
Monthly Future Shop credit card payment
Monthly entertainment expense
Monthly TTC Pass
Outstanding balance on credit card (18% APR)
Value of auto
$3,400
$1,200
$600
$950
$2,000
$250
$90
$525
$5,000
$4,000
$175
$100
$100
$120
$14,000
$12,000
Balance of auto loan (12% APR)
Monthly credit card bill
Monthly student loan payment
Monthly gym membership
Monthly expense on food/groceries
Annual car insurance premium
Balance of student loan (8% APR)
$8,000
$450
$245
$125
$150
$900
$23,000
A.
B.
C.
D.
Assignment 1
Due Dates
Section N: Tuesday, February 11th
Section O: Wednesday, February 12th
Section M: Thursday, February 13th
Instructions:
Each group must submit the assignment to the instructor at the beginning of class on the date the assignment is due. When completing your assignment, please observe the following rules and guidelines:
1. Textual portions must be typed and double-spaced. This does not include variables, labels and brief notes of explanation. Use at least one inch margins all around.
2. Double-sided is preferred, if you can do it with your printer.
3. Use 8 ½ X 11 paper only.
4. Do not use report covers.
5. Staple your assignment prior to handing it in.
6. Be sure to write clearly your names, student numbers, section, and due date on the cover page.
7. Spelling and grammar will affect your marks.
8. No assignments will be accepted after the last class.
Problem #1: Financial Statements (36 marks)
1. Use the following information on Stan’s finances in 2013 to answer the questions below. Assume all balance are reported as of December 31, 2013
Monthly take-home salary
Monthly rent payments
Monthly income from side tech consulting business
Checking account balance
Savings account balance
Monthly automatic savings deposit
Cell phone bill
Monthly auto loan payment
RRSP account balance
Future Shop Credit Card Balance (24.99% APR)
Monthly utility expenses
Monthly Future Shop credit card payment
Monthly entertainment expense
Monthly TTC Pass
Outstanding balance on credit card (18% APR)
Value of auto
$3,400
$1,200
$600
$950
$2,000
$250
$90
$525
$5,000
$4,000
$175
$100
$100
$120
$14,000
$12,000
Balance of auto loan (12% APR)
Monthly credit card bill
Monthly student loan payment
Monthly gym membership
Monthly expense on food/groceries
Annual car insurance premium
Balance of student loan (8% APR)
$8,000
$450
$245
$125
$150
$900
$23,000
A.
B.
C.
D.