Eddie just landed his first job out of college, and he’s excited about the position. However, Eddie needs to be dressed up every day and has no appropriate clothes right now. Eddie figures it will cost about $1250 to start a professional wardrobe.
OPTION 1: Open a 0% (for the first 6 months) credit card
PROS
CONS
What questions should Eddie ask before deciding on this option?
OPTION 2: Use $1250 of the $1500 he has saved in an Emergency Fund
PROS
CONS
What questions should Eddie ask before deciding on this option?
OPTION 3: Get a loan from Lending Club at an APR of 24.99%
PROS
CONS
What questions should Eddie ask before deciding on this option?
Selena is about to enter her senior year of college, when all of a sudden she realizes her school raised the tuition cost, and she’s short $6600 in her financial aid package.
OPTION 1: Charge the payments on the joint credit card account she shares with her mom, at a 14.99% APR
PROS
CONS
What questions should Selena ask before deciding on this option?
OPTION 2: Apply for a Federal Student Loan to cover the cost
PROS
CONS
What questions should Selena ask before deciding on this option?
OPTION 3: Get a private college loan from her bank, Wells Fargo, which is currently offering fixed rates between 5.94% and 10.92%
PROS
CONS
What questions should Selena ask before deciding on this option?
Why is it important to assess various credit options before making a decision on how to pay for items?
Answers: 2
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This problem has been solved! see the answercompute and interpret altman's z-scoresfollowing is selected financial information for ebay, for its fiscal years 2005 and 2006.(in millions, except per share data) 2006 2005current assets $ 4,970.59 $ 3,183.24current liabilities 2,518.39 1,484.93total assets 13,494.01 11,788.99total liabilities 2,589.38 1,741.00shares outstanding 1,368.51 1,404.18retained earnings 4,538.35 2,819.64stock price per share 30.07 43.22sales 5,969.74 4,552.40earnings before interest and taxes 1,439.77 1,445.18compute and interpret altman z-scores for the company for both years. (do not round until your final answer; then round your answers to two decimal places.)2006 z-score = answer2005 z-score = answerwhich of the following best describes the company's likelihood to go bankrupt given the z-score in 2006 compared to 2007.the z-score in 2006 is half of the 2005 score. both z-scores are well above the score that represents a healthy company.the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly increased the risk of bankruptcy.the z-score in 2006 is half of the 2005 score. the z-score has decreased sharply, which suggests the company is in financial distress.the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly lowered the risk of bankruptcy.
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Eddie just landed his first job out of college, and he’s excited about the position. However, Eddie...
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