Assets are stated at fair market valueliabilities are, Ask an Expert

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Assets are stated at fair market value.

Liabilities are stated at principal only as of January 1, 2015 (prior to January payments).

The home and land were financed with a $350,000 loan, seven years ago at 5 percent over 360 months.

They typically spend about $1,000 per month on each credit card, but the balances are higher after the holidays. They do not maintain these balances.

The Ram truck was financed with a loan of $30,000, six months ago at 3 percent over 48 months.

Mike’s brokerage account is highly correlated to the market. In fact the account has a correlation with the market of about 99 percent. However, because Mike has some leveraged mutual funds in the account, the beta of the portfolio is approximately 20.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92797191

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