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Presentation/PPT
27/08/2022
please make a personal balance sheet and calculate net worth?
You are to assist Stacey Koh, aged 26, achieve her goal of purchasing her first home. Stacey is currently working as a stock broker in a finance company earning annual salary of $73,000 (excluding superannuation). On top of her base pay, she receives an annual bonus of 2% of total sales for the year. Her last year’s bonus was $26,000. She is uncertain if the bonus would be repeated given that she has yet to achieve her sales target for the year. She is currently renting an apartment near the city, paying a weekly rent of $300. She is happy with her living arrangement as she catches a bus (two stops) to work. However, her parents have urged her to buy a home so that she can start accumulating wealth. They are able to give her $80,000 at the time of purchase to assist her if she needs it. As properties in (or near) the city are very expensive, she will have to settle for a suburb in the outskirts. The average cost of a small house is $400,000. She currently has $20,000 in her bank transaction account and personal effects with an estimated value of $10,000. She has 1,000 NAB (National Australia Bank) shares that she bought 4 years ago with the inheritance money that she received from her grandfather’s estate. She has a credit card with a $10,000 limit that she keeps for emergency use. She has a 2001 Honda Civic with an estimate value of $5,000. Her car is parked in a secure garage and she only uses it during the weekends. She has accumulated $25,000 in her employer sponsored superannuation fund. Excluding her rent, her annual expenses is about $20,000. She is unsure of the cost and concessions associated with purchasing a property and cash flow implications of being a home owner. If possible, she wants to purchase the property without her parents’ help. She would be willing to sell her shares if it means that she would be able to purchase the house within the 5 years’ timeframe. She would also like to buy a new car in the next 2 years as her current one is getting old. The estimated cost of a car that she likes is $20,000. She is unsure if she can afford to buy a new car and house. 7/11
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The writer is very fast, professional and responded to the review request fast also. Thank you.
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