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Solution Manual for Focus on Personal Finance 7th Edition Kapoor – Complete Answer Key (Chapters 1-14) & Continuing Case Studies

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Master your finances and ace your course with the official-style Solution Manual for "Focus on Personal Finance," 7th Edition by Jack R. Kapoor, Les Dlabay, Robert J. Hughes, and Melissa Hart. This comprehensive study guide provides expert-verified, step-by-step solutions to all Financial Planning Problems, "Figure It Out" worksheets, and the "Continuing Case" featuring Jamie Lee Jackson. What is included in this essential study resource? • Complete Chapter Coverage: Detailed answers for all 14 chapters, from the foundations of financial planning to retirement and estate planning. • Time Value of Money (TVM) Mastery: Precise calculations using the Rule of 72, and detailed future/present value solutions for single amounts and annuities using Exhibit tables and financial calculators. • Financial Statement Analysis: Step-by-step guidance on creating Balance Sheets, calculating Net Worth, and evaluating health via Debt, Current, and Savings ratios. • Tax Planning Expertise: Clear breakdowns of taxable income, standard vs. itemized deductions, tax credits, and the impact of different tax brackets. • Credit & Debt Management: Expert solutions for calculating APR, finance charges, and debt payments-to-income ratios. • Comprehensive Insurance & Investing: Detailed analysis of home, auto, health, and life insurance (including the DINK and "easy" methods), as well as evaluations of stocks, bonds (tax-equivalent yield), and mutual funds (NAV calculations). • Specialized Content: Solutions for Education Financing (FAFSA, Stafford loans), motor vehicle leasing vs. buying, and housing affordability. Perfect for students who want to verify their calculations for complex problems like bank reconciliations, mortgage refinancing timelines, and retirement nest egg projections.

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Course: Focus on Personal Finance

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Uploaded on: January 11, 2026
Number of pages: 105
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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kapoor solutions
debt to equity rat
focus on personal finance 7th edition
jack kapoor personal finance 7e answer key
time value of money rule of 72 problems
jamie lee jackson continuing case solutions

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SOLUTIONV MANUALV FOR
FocusVonVPersonalVFinance,V7thVEdition
ChapterV1-14

ChapterV1

(Note:VSomeVofVtheseVproblemsVrequireVtheVuseVofVtheVtimeVvalueVofVmoneyVtablesVinVtheV
chapterVappendix,VaVfinancialVcalculator,VorVspreadsheetVsoftware.)

1. UsingVtheVruleVofV72,VapproximateVtheVfollowingVamounts.V (LOV1.1)

a. IfVtheVvalueVofVlandVinVanVareaVisVincreasingV6VpercentVaVyear,VhowVlongVwillVitVtakeVforV
propertyVvaluesVtoVdouble?

AboutV12VyearsV(72V/V6)

b. IfVyouVearnV10VpercentVonVyourVinvestments,VhowVlongVwillVitVtakeVforVyourVmoneyVtoV double?

AboutV7.2VyearsV(72V/V10)

c. AtVanVannualVinterestVrateVofV5Vpercent,VhowVlongVwillVitVtakeVforVyourVsavingsVtoVdouble?

AboutV14.4VyearsV(72V/V5)

2. InV2019,VselectedVautomobilesVhadVanVaverageVcostVofV$16,000.VTheVaverageVcostVofVthose
VsameVautomobilesVisVnowV$20,000.VWhatVwasVtheVrateVofVincreaseVforVtheseVautomobilesVbet
weenVtheVtwoVtimeVperiods?V(LOV1.1)

($20,000V-V$16,000)V/V$16,000V=V.25V(25Vpercent)

3. AVfamilyVspendsV$46,000VaVyearVforVlivingVexpenses.VIfVpricesVincreaseVbyV3VpercentVaVyearV
forVtheVnextVthreeVyears,VwhatVamountVwillVtheVfamilyVneedVforVtheirVlivingVexpensesVafterVthree
Vyears?V(LOV1.1)

46,000V V 1.09V=V$50,140;VorVusingVExhibitV1-A:V$46,000V V 1.093V=V$50,278

4. BenVCollinsVplansVtoVbuyVaVhouseVforV$260,000.VIfVtheVrealVestateVinVhisVareaVisVexpectedVtoVi
ncreaseVinVvalueVbyV2VpercentVeachVyear,VwhatVwillVitsVapproximateVvalueVbeVsevenVyearsVfromV
now?V(LOV1.1)

$260,000V V 1.149V=V$298,740;VorVusingVExhibitV1-A:V$260,000V V 1.149V=V$298,740

5. WhatVwouldVbeVtheVyearlyVearningsVforVaVpersonVwithV$9,000VinVsavingsVatVanVannualVinterestVrate
CopyrightV©V2020VMcGraw-
HillVEducation.VAllVrightsVreserved.VNoVreproductionVorVdistributionVwithoutVtheVpriorVwrittenVconsentVofVMcGraw-Hill
Education.

, Vof
1.5Vpercent?V(LOV1.3)

CopyrightV©V2020VMcGraw-
HillVEducation.VAllVrightsVreserved.VNoVreproductionVorVdistributionVwithoutVtheVpriorVwrittenVconsentVofVMcGraw-Hill
Education.

, $9,000V V 0.015V=V$135

6. UsingVtimeVvalueVofVmoneyVtablesV(ExhibitV1–
3VorVchapterVappendixVtables),VcalculateVtheVfollowing.V(LOV1.3)

a. TheVfutureVvalueVofV$550VsixVyearsVfromVnowVatV7Vpercent.
$550V V 1.501V=V$825.55V(ExhibitV1-A)

b. TheVfutureVvalueVofV$900VsavedVeachVyearVforV10VyearsVatV8Vpercent.
$900V V 14.487V=V$13,038.30V(ExhibitV1-B)

c. TheVamountVaVpersonVwouldVhaveVtoVdepositVtodayV(presentVvalue)VatVaV5VpercentVinterestV
rateVtoVhaveV$1,000VfiveVyearsVfromVnow.
$1,000V V 0.784V=V$784V(ExhibitV1-C)

d. TheVamountVaVpersonVwouldVhaveVtoVdepositVtodayVtoVbeVableVtoVtakeVoutV$500VaVyearVforV1
0VyearsVfromVanVaccountVearningV8Vpercent.
$500V V 6.710V=V$3,355V(ExhibitV1-D)

7. IfVyouVdesireVtoVhaveV$12,000VforVaVdownVpaymentVforVaVhouseVinVfiveVyears,VwhatVamount
VwouldVyouVneedVtoVdepositVtoday?VAssumeVthatVyourVmoneyVwillVearnV4Vpercent.V(LOV1.3)

$12,000V V 0.822V=V$9,864V(ExhibitV1-C)

8. PeteVMortonVisVplanningVtoVgoVtoVgraduateVschoolVinVaVprogramVofVstudyVthatVwillVtakeVthreeV
years.VPeteVwantsVtoVhaveV$8,000VavailableVeachVyearVforVvariousVschoolVandVlivingVexpenses.V
IfVheVearnsV3VpercentVonVhisVmoney,VhowVmuchVmustVheVdepositVatVtheVstartVofVhisVstudiesVtoV
beVableVtoVwithdraw
$8,000VaVyearVforVthreeVyears?V(LOV1.3)

$8,000V V 2.829V=V$22,632V(ExhibitV1-D)

9. CarlaVLopezVdepositsV$2,800VaVyearVintoVherVretirementVaccount.VIfVtheseVfundsVhaveVanVav
erageVearningVofV7VpercentVoverVtheV40VyearsVuntilVherVretirement,VwhatVwillVbeVtheVvalueVofV
herVretirementVaccount?V(LOV1.3)

$2,800V V 199.635V=V$558,978V(ExhibitV1-B)

10. IfVaVpersonVspendsV$10VaVweekVonVcoffeeV(assumeV$500VaVyear),VwhatVwouldVbeVtheVfutureV
valueVofVthatVamountVoverV10VyearsVifVtheVfundsVwereVdepositedVinVanVaccountVearningV3Vpercent
?V(LOV1.3)

CopyrightV©V2020VMcGraw-
HillVEducation.VAllVrightsVreserved.VNoVreproductionVorVdistributionVwithoutVtheVpriorVwrittenVconsentVofVMcGraw-Hill
Education.

, $500V V 11.464V=V$5,732V(ExhibitV1-B)

CopyrightV©V2020VMcGraw-
HillVEducation.VAllVrightsVreserved.VNoVreproductionVorVdistributionVwithoutVtheVpriorVwrittenVconsentVofVMcGraw-Hill
Education.

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Solution Manual for Focus on Personal Finance 7th Edition Kapoor – Complete Answer Key (Chapters 1-14) & Continuing Case Studies

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