Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you are conducting an assessment of sandheep and i

You are conducting an assessment of Sandheep and Indira's finances in preparation of their Client...

90.2K

Verified Solution

Question

Finance

You are conducting an assessment of Sandheep and Indira's finances in preparation of their Client Profile. Their family home is worth $350,000 and has an outstanding mortgage of $333,670. They have 2 family cars, one of which has 2 years of payments outstanding for $400/month. They also have an outstanding balance on their credit cards of $8,000, and some outstanding tax liabilities and other obligations of $3,000. What does your assessment about their assets and liabilities tell you?

a) In the event of loss of income due to disability, Sandheep and Indira do not have liquid net assets to cover the income loss.
b) In the event of a medical emergency, the equity in Sandheep and Indira's home could be used to cover medical and care expenses.
c) In the event of a medical emergency, Sandheep and Indira's family cars could be liquidated to cover medical and care expenses.
d) In the event of loss of income due to disability, Sandheep and Indira have ample liquid net assets to cover the income loss.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

The capital investment for a new highway paving machine is $950000. This expense is estimated, in...

Physics
1.2K views

3 The half life of a radioactive isotope X is 20 yr It decays to...

Physics
1.2K views

Focal length of a convex lens is equal to 10 cm The power of lens...

Basic Math
1.2K views

Solve 2 cos (w) + cos(w) - 1 = 0 for all solutions 0 ?w...

Statistics
1.2K views

A manager at a college cafeteria surveys every 20th diner to determine what types of...

Calculus
1.2K views

If a rock is thrown vertically upward from the surface of Mars with velocity of...

Algebra
1.2K views

5 You work for a roofing company and must order the correct number of tiles...

Accounting
1.2K views

please do asap Required information The following...

Accounting
1.2K views

JUST NEED HELP WITH THE LAST ONE ...

Accounting
1.2K views

Required information Ruiz Co. provides the following sales forecast for the next four months April...

Accounting
1.2K views

Ibooks, an online book retailer, has two operating departmentscorporate sales and consumer salesand two support...

Finance
1.2K views

5. A define-benefit pension fund has following holdings in their fixed-income portfolio: Bond Credit Rating...