Health Savings Account-Health Savings Account Info

Malimali H asked:


can you please summarize this information into a paragraph?

Dr. Livingstone was a Christian missionary, physician, explorer and emancipationist. Walking from the west coast to the east coast of central Africa, his exploits included incredible drama and have been documented in a plethora of literature. Often loathed by whites, he was admired by Africans, and his hatred of the slave trade was intense.

David Livingstone was born in Blantyre, Scotland on March 19, 1813. He began earning a living at an early age and taught himself Latin and English and other subjects while working in a tweed factory from 6 am to 8 pm 6 days a week. He obtained a degree in medicine, nearly failing the medical exam, because he believed in using a stethoscope, contrary to his examiners’ opinion. His religious faith drew him to a career as a missionary, training at the London Missionary Society. When he stood up to preach his first sermon, he was so frightened that after he read the title, he bolted out of the church.

Encouraged by friend, Robert Moffat, his first trip to South Africa began in December of 1840. The Moffats had even greater influence, in 1844 he married Robert Moffats’ daughter, Mary.

Although popular among African natives, he made enemies of some of the white settlers because he learned African languages and had an unusually keen understanding and sympathy for the native cultures. In 1843, while settling the Mabotsa valley, Livingstone shot a lion, but before it died, it managed to bite and tear up his left arm, leaving it nearly useless. He used live maggots on the open wound to eat the dead flesh.

Dr. Livingstone fought malaria constantly resulting in him being the first known person to use the thermometer to measure body temperature. He discovered the use of Canaan in the treatment of malaria, (but mixing it with jalap as he found that Quinine was the most constipating of drugs)- thus the Livingstone “rouser” saved many lives.

Livingstone’s travels in Africa made him the first white man to see Victoria Falls, and also an esteemed visitor among the natives. According to one biographer, “the great Scotsman” added approximately one million square miles to the known portion of the globe. He received a gold medal from the London Royal Geographical Society for being the first to cross the entire African continent from west to east. He crossed the Kalahari desert reaching Lake Ngami in 1849. He discovered the Zambezi River in 1851, and eventually followed it to Victoria Falls in 1855. His Missionary Travels in South Africa (1857) is an account of that journey. He was given command of an expedition to explore the Zambezi region(1857-1863). He returned to England in 1864 and with his brother, Charles, wrote The Zambezi and It’s Tributaries (1865). In 1866, he returned to Africa to seek the source of the Nile.

Remembered as an explorer, Dr. Livingstone is still more distinguished for his humanity. At the same time that slavery was taken for granted, he condemned the slave trade, and alerted his countrymen of the abhorrent practice. He hoped to abolish the slave trade by opening Africa to Christian commerce and missionary stations.

While he was in “darkest” Africa, at home and in America he was feared lost or possibly dead due to lack of any communication. Sir Gordon Bennet of the New York Herald sent Henry Morton Stanley, a staff reporter, to look for the explorer and gain the “scoop” of the century. It took over a year for Stanley to find Dr. Livingstone, finding him in 1871 in the small village of Ujiji. Here, the famous phrase “Doctor Livingstone I presume” was asked by Mr. Stanley. Livingstone had suffered serious health problems, and when Stanley found him he was at one of the lowest points of his life, yet he refused to turn back, maintaining his desire to find the source of the Nile. Stanley joined him on a journey to the north end of Lake Tanganyika in 1872..

Livingstone’s health continued to worsen in the months before his death in May of 1873. His crew had gone to get supplies, and came back to find him in a kneeling position, apparently praying when he died. His death resulted in the longest funeral march in world history. His loyal followers carried his remains 1500 miles to the coast, taking five months for the journey, believing that he would want to be buried in England. ( His heart was buried in Zambia beneath a tree, where there is a memorial to this great Scotsman) Ten men died on the journey before surrendering his remains to the British Consulate at a place, Bagamoio, which literally means “lay down the burden of your heart.” His body was buried at Westminster Abbey. His last journals were edited by Horace Waller in 1874.

Livingstone died a pauper, yet he left a huge legacy. There is hardly a country in Southern and Central Africa where his name is not upheld. Buildings and streets bare his name, and statues of him stand tall, including one next to the president’s office

Jorge Throckmorton

crazycatlady asked:


1. The Department of compiles the statistics on the nation’s output and income.
1. Commerce
2. Internal Revenue
3. Health and Human Services
4. Defense

2. One weakness of a sole proprietorship is that the
1. owner has no control
2. owner has too many partners
3. owner faces unlimited liability
4. business will eventually go bankrupt

3. One advantage of a corporation is
1. unlimited liability for its owners
2. a lifespan that is not linked to a specific owner
3. the ease of obtaining a charter
4. it cannot enter into any legal contracts

4. The main advantage that partnerships have over sole proprietorships is
1. the ability to specialize
2. unlimited liability
3. the ease of obtaining a charter
4. they are more likely to succeed

5. Which of the following is an economic right of all businesses in the United States?
1. voluntary exchange
2. involuntary exchange
3. government ownership of property
4. the ability to function as a monopoly

6. Which of the following is an economic responsibility of all businesses in the United States?
1. Conduct all business in an honest and ethical manner.
2. Draft a code of ethics and make all employees sign it.
3. Close on all government regulated holidays.
4. Spread negative information about the competition.

7. More money becomes available for economic growth when
1. people save
2. pension funds increase
3. interest rates are high
4. there is high unemployment

8. Saving makes economic growth possible because
1. it means people have extra money and are spending less of it
2. buyers and sellers are working together to make saving possible
3. financial institutions lend the savings of others to those who will invest them
4. saving is more important than investing

9. In order for people to use the savings of others, the economy must have a(n) system—a network of savers, investors, and financial institutions.
1. saving
2. investment
3. transfer
4. financial

10. The United States GDP, which is the market value of all final goods and services produced in the nation in a year, is calculated by
1. adding the expenditures of the four sectors of the economy
2. multiplying production by consumption
3. subtracting total imports from exports
4. It is impossible to compute the GDP because it is impossible to measure all production data.

11. GDP is not a proper measure of the total production of the United States economy because
1. it only includes final goods
2. it does not account for household labor or volunteer labor
3. it does not take illegal or black market production into consideration
4. all of the above

12. What is the difference between real and nominal GDP?
1. Real GDP is exact, while nominal GDP is estimated.
2. Real GDP is adjusted for inflation, while nominal GDP is not.
3. Real GDP is estimated, while nominal GDP is exact.
4. There is no difference.

Use the following information to determine the inflation rates.

A consumer price index is used to measure the average change in price over time and to determine the inflation rate.

CPI Year 1= 95

CPI Year 2= 108

CPI Year 3= 119

CPI Year 4= 140

13. What is the inflation rate from year 2 to year 3 rounded to the nearest percent?
1. 9%
2. 4%
3. 6%
4. 10%

14. What is the inflation rate from year 3 to year 4 rounded to the nearest percent?
1. 5%
2. 11%
3. 18%
4. 25%

15. Monopolies are typically created because
1. the industry has high barriers to entry that prevent many businesses from entering the industry
2. increasing competition discourages new businesses from entering the industry
3. there is a lack of business interest in an industry
4. the government promotes the establishment of monopolies

16. Monopolies face disadvantages that focus around
1. production
2. prices
3. inefficiency
4. cost

17. An oligopoly
1. is an industry dominated by a small number of firms
2. is established when perfect competition exists
3. only occurs when buyers and sellers are fully informed
4. requires a partnership

18. One distinct difference between monopolistic competition and perfect competition is
1. product differentiation
2. insignificant
3. monopolistic competition is a monopo

Jeanie Welty

crazycatlady asked:


1. The Department of compiles the statistics on the nation’s output and income.
1. Commerce
2. Internal Revenue
3. Health and Human Services
4. Defense

2. One weakness of a sole proprietorship is that the
1. owner has no control
2. owner has too many partners
3. owner faces unlimited liability
4. business will eventually go bankrupt

3. One advantage of a corporation is
1. unlimited liability for its owners
2. a lifespan that is not linked to a specific owner
3. the ease of obtaining a charter
4. it cannot enter into any legal contracts

4. The main advantage that partnerships have over sole proprietorships is
1. the ability to specialize
2. unlimited liability
3. the ease of obtaining a charter
4. they are more likely to succeed

5. Which of the following is an economic right of all businesses in the United States?
1. voluntary exchange
2. involuntary exchange
3. government ownership of property
4. the ability to function as a monopoly

6. Which of the following is an economic responsibility of all businesses in the United States?
1. Conduct all business in an honest and ethical manner.
2. Draft a code of ethics and make all employees sign it.
3. Close on all government regulated holidays.
4. Spread negative information about the competition.

7. More money becomes available for economic growth when
1. people save
2. pension funds increase
3. interest rates are high
4. there is high unemployment

8. Saving makes economic growth possible because
1. it means people have extra money and are spending less of it
2. buyers and sellers are working together to make saving possible
3. financial institutions lend the savings of others to those who will invest them
4. saving is more important than investing

9. In order for people to use the savings of others, the economy must have a(n) system—a network of savers, investors, and financial institutions.
1. saving
2. investment
3. transfer
4. financial

10. The United States GDP, which is the market value of all final goods and services produced in the nation in a year, is calculated by
1. adding the expenditures of the four sectors of the economy
2. multiplying production by consumption
3. subtracting total imports from exports
4. It is impossible to compute the GDP because it is impossible to measure all production data.

11. GDP is not a proper measure of the total production of the United States economy because
1. it only includes final goods
2. it does not account for household labor or volunteer labor
3. it does not take illegal or black market production into consideration
4. all of the above

12. What is the difference between real and nominal GDP?
1. Real GDP is exact, while nominal GDP is estimated.
2. Real GDP is adjusted for inflation, while nominal GDP is not.
3. Real GDP is estimated, while nominal GDP is exact.
4. There is no difference.

Use the following information to determine the inflation rates.

A consumer price index is used to measure the average change in price over time and to determine the inflation rate.

CPI Year 1= 95

CPI Year 2= 108

CPI Year 3= 119

CPI Year 4= 140

13. What is the inflation rate from year 2 to year 3 rounded to the nearest percent?
1. 9%
2. 4%
3. 6%
4. 10%

14. What is the inflation rate from year 3 to year 4 rounded to the nearest percent?
1. 5%
2. 11%
3. 18%
4. 25%

15. Monopolies are typically created because
1. the industry has high barriers to entry that prevent many businesses from entering the industry
2. increasing competition discourages new businesses from entering the industry
3. there is a lack of business interest in an industry
4. the government promotes the establishment of monopolies

16. Monopolies face disadvantages that focus around
1. production
2. prices
3. inefficiency
4. cost

17. An oligopoly
1. is an industry dominated by a small number of firms
2. is established when perfect competition exists
3. only occurs when buyers and sellers are fully informed
4. requires a partnership

18. One distinct difference between monopolistic competition and perfect competition is
1. product differentiation
2. insignificant
3. monopolistic competition is a monopoly

Roxann Gromoll

. asked:


Armando Madrigal
English 803
Prof. Potratz
November 30 2009
Health Care Spending Crisis in America
According to the World Health Organization report America ranks third place in handling overall healthcare expenditures, and number one when it comes to health care spending as a percentage of gross domestic product (GDP). What are the causes for the poor performance America takes in controlling its healthcare costs? What advantages do other nations like France and Taiwan have over ours? To lower healthcare expenditures and save the healthcare system time and money, America needs to change its’ emergency care system, its’ medical and information storage system, and its’ public hospital system.
One change the United States could make to improve our healthcare system is to revamp our emergency care system, which would save the system money and would improve car people with true emergencies. In France, the emergency medical services, or EMS, are a branch of emergency services dedicated to providing out-of-hospital decisive medical care to patients with real illnesses. The emergency medical services are also dedicated to transporting patients with real illnesses to separate medical facilities that offer specialized treatment to the patient. Within France’s emergency medical services lies The Emergency Medical Assistant Services (SAMU). In France, when you have a medical emergency, you must first dial the number 15, which the call is quickly received by the SAMU call center. There a physician, attended by secretaries, determines the most suitable response. After a short and precise telephone conversation with the caller, the “regulator doctor” also known as emergentists, who takes into account the resources available at the time, decides on the most suitable solution to the problem posed. The emergentist then assumes responsibility for starting up the appropriate procedures, monitoring its progress, and coordinating all the personnel involved. Upon arrival at the scene, the entire staff comprised of a regulator doctor, nurses, and technicians, treat the patient at the scene. On average it takes 45 minutes for SAMU to treat the patient. If the patient does need further treatment, the regulator doctor chooses a hospital not by its’ proximity, but its specialty. In France, the idea is to bypass the emergency room all together. In America, there are little similarities compared to France’s emergency care system. In America, the emergency medical services are comprised of ambulance teams of paramedics or EMTs. The ambulance teams in America are dedicated to transporting patients with real illnesses to the nearest hospital. In America, when a person has a medical emergency they must first dial the nationwide phone number 911, where the emergency dispatch center quickly receives the call. There a dispatcher, attended by a supervisor, determines the location of the emergency and sends an ambulance team to the scene. Upon arrival at the scene, the goal of the paramedics is not to treat the patient at the scene, but to stabilize the patient in the ambulance in order to take him/her to the nearest hospital center. The entire staff of an ambulance team is comprised of only paramedics, who are trained in first aid safety and handling of medical equipment. The average time it takes an ambulance team to reach the scene, stabilize the patient, and transport him/her to a hospital is roughly 25 minutes. Once the paramedics reach the emergency room, too often the patient will have to wait until a bed or room clears before being treated by an E.R doctor. In America, the idea is not like France’s treat the patient at the scene, but a direct pickup and go type of situation. Emulating France’s system of emergency healthcare is a time and cost effective measure because out of every 1000 calls SAMU receives, only about 50 turn out to be real medical emergencies. This is part due to the regulator doctor who answers the calls, determines if the patient needs a team of SAMU or not. That means in more than 95% of the cases, France’s SAMU team can deal with the call without using the full team, evidently reducing costs of the emergency services. Adopting France’s system of emergency care would help the American system save time, money, and treat those with true medical emergencies.
Another change the United States could make to improve our health care system is to change the way hospitals and medical clinics store our medical and personal information by using electronic cards. This would save the healthcare system time and money, which would lower costs on overall healthcare expenditures. In Taiwan, the standardized health record system uses highly innovated technology called integrated circuit smart cards. The electronic medical records (EMR) are a system of medical and personal information storekeeping of patient’s records. With the adoption of the National Health Insurance and medical records, all medical examination record in
it’s an essay of 5 paragraphs.

Dennis Loughran

belicia asked:


We have heard various reasons why we should and shouldn’t lower the legal drinking age. Our side has explained that by lowering the drinking age creates hazardous problems to a teens’ health and also, we give power to teens who are not as responsible as most people have thought them to be. According to public opinion polling, most Americans oppose lowering the federally mandated minimum drinking age to 18 from 21, which breaks down to 78% opposing, 21% favoring and 1% with no response (“Minimum Drinking Age”). With this in mind, one cannot say that the vast majority of Americans want the drinking age to be lowered.
A teens’ brain is not something to mess with since it is still developing. As stated by Cynthia Kuhn, “It is no accident that people are educated in our society during their early years when they have more capacity for memory and learning. However, with this added memory capacity may come additional risks associated with the use of alcohol (Brennfleck Shannon).” Our brains believe it or not, are still developing and to introduce alcohol to a still developing brain can cause learning impairments that affects academic and occupational achievement as well as short-term memory loss (“Underage drinking…”). The minimum age drinking laws were established to save your brain and life (Brennfleck Shannon). Lowering the drinking age would make more alcohol purchased legally at 18, which causes an increase in availability to younger teens, some of which are just learning to drive. Inexperienced drivers and alcohol are a dangerous mix (“Would an age 18…”). Adolescents already are at an increased risk due to their lack of driving experience, and drivers younger than 21 are more vulnerable than older drivers to the impairment of driving skills. The rate of fatal crashes due to alcohol between ages 16 and 20 is more than twice the rate than drivers 21 and older (“Underage Drinking…”).
Furthermore; teens at the age of 18 are not that responsible to consume alcohol legally. We often hear the phrases, “If I can vote, go to war, legally get married, etc. then I should be able to drink alcohol.” And that is true however; different activities are suitable for people at certain ages. The minimum age for ignition is based on the specific behaviors involved and must take into account the dangers and benefits of that behavior at a given age. The age 21 policy takes into account the fact that underage drinking is related to numerous serious health problems such as death, car crashes, suicide, homicide, assault, and even drowning. 1/3 of teen car crashes is alcohol related (Brennfleck Shannon). As for the war issue, the military recruits teens because teens are not fully developed and can be molded into soldiers. Drinking is more dangerous for teens because teens are still developing; they lack experience and are more likely to take risks (Voas). We also hear about the Europeans being able to consume alcohol at an early age and don’t have any alcohol-related problems, but this assumption is a myth. Binge drinking is higher in Europe than is the United States among teenagers, with some countries are more than twice as liable for alcohol intoxication (Voas). In European countries, the rates of alcohol-induced diseases such as cirrhosis of the liver are higher than the United States and drunk driving in European countries among teenagers is not an issue since European youth obtain their drivers’ licenses at an older age (Toomey). Look at the mall and cell phone policy, teens are not responsible enough to control themselves and consequently caused the new restrictions placed on teenagers shopping at the mall and not being able to use our cell phones during school. For that reason, if we as teenagers continue to act child-like then we will continue to be treated as children in the eyes of the adults, so why not start thinking about our actions first before we start changing the legal drinking age.

Scott Meinders

Incomplete asked:


Just fix some grammar and spelling issues, and maybe gimme advice or whatnot. Thanks! you can send it after your proofread it to my email if you want! And please no rude comments on my position on health care.

“Great physicians and nurses, skilled, caring and unparalleled in their training, intervened in my life and probably saved it. I was lucky but other Americans are not. It is time to speak again and stand again for the ideal that in the richest nation ever on this planet, it is wrong for 41 million Americans, most of them in working families, to worry at night and wake up in the morning without the basic protection of health care.”
-Senator John Kerry

The United States of America is the only wealthy, industrialized nation in the whole world that does not offer some sort of socialized medicine. Our current health care system consumes more money than similar nations, yet still leaves over 42 million Americans uninsured. 42 million Americans live in fear that they will substain some sort of injury and illness that could potentially put them in major debt or bankruptcy. For the sole superpower in the world, this is unacceptable. Health Care is a fundamental right that should be upheld by the United States government in order to maintain public health and keep it’s citizens thriving. A system that allows health care only to be attained by your income or your employer’s benefits is contrary to the belief that Americans have the right to Life, Liberty, and pursuit of Happiness.

The United States of America spends more on health care than any other country in the world. Countries that utilize Universal health care are spending lesss money than the United States, yet still have a more effficent health care system. In the United States, total health spending accounted for 15.3% of the Gross Domestic Product (GDP) in the United States. In comparison, in Canada it was 10%, Switerland 11.3%, France 11.1%, and Germany 10.6%. The problem with the United States health care system is that that not all of this money spent on health care is actually getting to the hospitals and patients. A study shown at the Harvard Medical School found that Health care bureaucracy cost the United States 399.4 billion dollars in 2003, that is 31% of total health care spending in the United States (Thomson 62). Compare that to 16.7% for Canada (Thomson 62). Despite all these high costs of health care the United States still has over forty-two million people without health care and millions more with inadequate health care. It’s estimated that by switching to Universal health care the United States could cut back spending by as much as 286 million annualy. (Thomson 63). It is estimated that with the 286 billion dollars we’d save with a Universal health care policy, we would be enough to cover all of the uninsured and provide full prescirption drug coverage to everyone (Thomson 63).

The United States’s health care performance has been slowly going downhill since the 1980’s. With the colossal amounts of money that United States spends on Health care efficency would be expected. Twenty years ago the United States had the highest life expetancy with the same health care system we use today. As of today the World Health Organization (or WHO) ranked the United States thirty-seventh for overall health care performance (Thomson 56). This decrease in efficency is due to other countries adopting Universal health plans, leaving the United States in the dust. In Canada for example, Canadians live on average three years longer then their American-counterparts. The Canadian infant mortality rate also stood at 5.4 deaths per a thousand babies. In comparison, the United States’s infant mortality rate is 6.9, with countries like Japan, Sweden, Norway, and Finland all having some of the lowest infant mortality rates. Even countries in the developing world are suprassing the United States. A baby born in El Salvador for example, has a higher chance of surviving than a baby born in Detroit. This is all astounding considering the billions of dollars we spend on health care. Competing countries are spending less money per person for health care and yet still have a healthier public with no one uninsured. This is a wake-up call to the United States government; we need a national health care policy or we will fall behind other nations on general public health.

Over eighteen thousand Americans die every year of lack of health insurance; this denotes that Americans are suffering with lack of Universal health care. Granted, not all of uninsured Americans die, but the consequences can still be dire. Almost almost 50% of all bankrupcty filings cited as due to medical causes (Michael Moore) With Universal health care, these numbers would be nil. Even with our socalized medicine for seniors, Medicare, is ineffective. Medicare doesn’t cover all medical expenses. Medicare covers only 75% of the first 2,250 dollars worth of drugs
due tomorrow haha

Todd Likos

Taylor asked:


If you have a few minutes to spare, could anyone please, please help me edit my paper.

For many years, people have been debating how medical insurance should be paid: Whether private payment or government payment or some combination.
Private payment means one would pay for ones own insurance. Government payment would mean the government pays for ones insurance. If the government were to pay for ones insurance, it would limit ones abilities. Also, Government already has to cover Medicare, Social Security, Government housing, the Federal Housing Committee, and the collapse of the Financial Institutions. To a lot of thoughtful people, the only way to fix the health insurance crisis in the United States is to get the federal government to cover everyone.

In most states, individuals can be denied coverage for any number of reasons, so it is wise to request and compare more than one individual health insurance quote. The extra short-term effort that’s required to apply for individual medical insurance plans is easily worth the long-term savings. If one is insuring ones family, as opposed to just oneself, there are some additional considerations to take into account. Even if one does receive coverage through an employer-sponsored health plan, one should consider the cost-saving benefits of switching to a family medical insurance policy or moving some of your family members off of your group policy into a family policy.

Most Americans receive their health coverage through some type of group health insurance. Although large corporations with hundreds or even thousands of employees have the bargaining power to negotiate with medical insurance companies for custom health plans for their workers, the small business owner must still research options and compare prices from multiple providers. Since small business health insurance offers guaranteed coverage to all employees in a given company, it can be difficult and time consuming for a small business owner to find the best policy. Most major colleges and universities require their full-time students to have medical insurance. While many of these same schools also offer their own student health plan, it is wise to explore his or her options. Typically the school will provide the minimum requirements that a health policy must meet in order to waive coverage under the school’s policy. As a senior over 65, one is likely covered under some combination of Medicare plans. Changes in recent years to the federal government’s medical insurance program for seniors has created a complex system with rigid enrollment timelines.

Currently, we have a mixed system, where the government heavily intervenes in health care. In Canada and Great Britain, they have fully governmental health care systems, but a black market of private medicine exists. The government regulates which drugs are available on the market, through the FDA and through the agencies that fight its War on Drugs. Currently, drug companies are granted monopoly privileges called “patents” that give them the exclusive right to sell their drug for 17 years. A few years ago, Congress passed legislation which actually outlawed the importation of cheaper drugs from other countries and prohibited the federal government’s health insurance programs (such as Medicare and Medicaid) from negotiating for lower prices. This provision was repealed by the Democrats after they won control of Congress.

Britain, Canada, Japan and a number of other rich countries do so, and they each spend less money on health care than the United States does. They also do not have major companies, like General Motors, flirting with bankruptcy in large part because of the cost of health benefits

Health insurers made $100 billion in profits last year, and industries of that size are just not legislated out of business, said Jonathan Gruber, an economist. The party that controls the White House and Congress also opposes the idea. Republicans have their own utopian notions, which generally involve letting loose the free market for Americans to demand better care on their own. The discussion has basically been paralyzed for years. In the meantime, the problem has grown worse. In the United States, forty-six million people lack health insurance, according to the most recent estimate, up from thirty-one million in 1987.

Massachusetts changed the terms of the debate. Governor Mitt Romney, a Republican, and the State Legislature, controlled by the Democrats, reached a deal to cover almost everyone in the state. The plan will cut the cost of health insurance for families that do not have it and make it free for many poor families. The state will also require every resident to have insurance or face a stiff fine. The plan breaks free of the usual ideological shackles by dealing with both of the big reasons that nearly one- sixth of the U.S. population lacks insurance. One, many people cannot afford it. Two, some who can afford it imagin

Vicente Agostinelli

Paul C asked:


Ben currently works at the money management firm of Dewey and Louis. His annual salary at the firm is $50,000 per year, and his salary is expected to increase at 3% per year until retirement. He is currently 28 years old and expects to work for 35 more years. His current job includes a fully paid health insurance plan, and his current average tax rate is 26%. Ben has a savings account with enough money to cover the entire cost of his MBA program.

The Ritter College of Business at Wilton University is one of the top MBA programs in the country. The MBA degree requires two years of full-time enrollment at the university. The annual tuition is $60,000, payable at the beginning of each school year. Books and other supplies are estimated to cost $2,500 per year. Ben expects that after graduation from Wilton, he will receive a job offer for about $95,000 per year with a $15,000 signing bonus. The salary at this job will increase at 4% per year. Because of the higher salary, his average income tax rate will increase to 31%.

What initial salary would Ben need to receive to make him indifferent between attending Wilton University and staying in his current position?

How would I set this up. I don’t even know where to start with this problem?

Trevor Prosser

??l? asked:


1. Cash substitutes, such as credit cards or debit cards, are a safe alternative to carrying cash. (4.0 points)
A. false
B. true

2. A secured credit card is only issued to people who do not have a savings account. (4.0 points)
A. false
B. true

3. A charge card is a line of credit and interest may accrue if the monthly balance is not paid in full. (4.0 points)
A. true
B. false

4. Borrowed money of any kind usually involves interest charges. (4.0 points)
A. false
B. true

5. One of the disadvantages of using electronic money is it is possible to lose track of one’s budget. (4.0 points)
A. false
B. true

6. The amount of interest you are charged yearly is called: (4.0 points)
A. Compound Interest
B. Credit Rating
C. Annual Percentage Rate (APR)
D. Average Daily Balance Method

7. Interest calculated not only on the original principle but also on the interest already accured (accumulated) is called: (4.0 points)
A. Compound Interest
B. Credit Rating
C. Annual Percentage Rate (APR)
D. Average daily balance method

8. The rating credit companies use to see if you are a good credit risk is called: (4.0 points)
A. Compound Interest
B. The three C’s (character, collateral, and capacity)

9. An institution’s evaluation of whether a person is suitable to receive credit is called: (4.0 points)
A. Credit Rating
B. Compound Interest
C. The three C’s (character, collateral, and capacity)
D. Personal profile

10. The card company totals your balance each day during the billing period, adds these daily balances together and divides by the number of days in the billing period is called: (4.0 points)
A. Compound Interest
B. Annual Percentage Rate (APR)
C. Average daily balance method
D. Complex daily total

11. Which ELECTRONIC CARD cannot be used randomly at a variety of stores and for a variety of services? (4.0 points)
A. multi-purpose credit cards
B. single purpose credit cards
C. secured credit cards
D. VISA cards

12. identity theft can occur in all of the following ways except: (4.0 points)
A. theft of wallets that contain identification and credit card information
B. theft of mail, including new checks, bank and credit card statements, or tax information
C. shredding all documents that have personal information such as tax information, address, and account numbers

13. The ______________card can be used anywhere. The slogan, “It’s everywhere you want to be.” applies to this card. (4.0 points)
A. multi-purpose credit
B. single purpose credit
C. debit
D. ATM

14. __________ are used in place of writing checks. The amount you spend using this card will be deducted from your checking account. (4.0 points)
A. Credit cards
B. Multi-purpose credit cards
C. Single purpose credit cards
D. Debit cards

15. Which of the listed cards can be used in place of cash? (4.0 points)
A. multiple purpose credit cards
B. single purpose credit cards
C. debit cards
D. ATM cards
E. all of the above

16. Select an alternative to using credit. (4.0 points)
A. You may choose not to buy.
B. You may pay with your savings.
C. You may postpone buying, save your money, and buy later with cash.
D. Any and/or all of the above.

17. To earn a good credit rating, you should do all of the following EXCEPT:
(4.0 points)
A. Keep your own checking and savings account.
B. Pay bills after due date.
C. Pay bills before the due date.
D. Never give your credit card information or personal information to any unsolicited phone caller.

18. Three of the four statements below represent your credit responsibilities. Select the one answer that does not represent your credit responsibilities. (4.0 points)
A. Keep track of your spending so you know how much of your available credit you have used.
B. Pay off the entire credit balance each month.
C. Have the credit card bill sent to a temporary address.
D. Be alert to your total debt.

19. To help prevent fraudulent use of your credit cards, ask the clerk to destroy carbons of receipts with your signature, and keep all your receipts in a safe place. Do not give your account number to unknown (unsolicited) callers. (4.0 points)
Answer True False
20. No more than 15- 20 % of your monthly income should go toward credit card payments. (4.0 points)
A. false
B. true

21. To whom should you report the loss or theft of your credit and ATM cards? (4.0 points)
A. The card issuers within 24 hours of the loss or theft.
B. Report it to the bank with whom you have a checking account.
C. It is not necessary to report it because credit cards companies know via technology that a card is stolen.

22. Your credit line is based on your monthly income, your current debt, and length of residence at your current address. (4.0

Suzy Granato