Joe and Amy Kivers Both Worked Last Year

question 28

Short Answer

Joe and Amy Kivers both worked last year. Joe earned $48,000 as a mechanic. Amy earned $18,000 doing typing at home. They inherited $12,000. Compute their combined gross income.​

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Definitions:

Holding-Period Return

The total return received from holding an asset or portfolio over a period, including interest, dividends, and capital gains.

Par Value Bond

A financial instrument issued with a stated face value, the amount that will be paid back to the investor at maturity, not necessarily reflecting the bond's market value.

Yield

The income return on an investment, such as the interest or dividends received, expressed as an annual percentage of the investment's cost.

Coupon Rate

The rate of interest on a bond paid yearly, illustrated as a fraction of its par value.