If you file for Chapter 7 or 11, it will remain on your credit report for up to 10 years. If you file for Chapter 13, it may stay on your report for up to seven years. A Chapter 11 bankruptcy will stay on the business's credit report, not the individual owner's, unless they file a personal bankruptcy.
Answer:Purchasing power in todayâs dollars = $289,287/1.02536 = $118,924. 4) You plan to save $7,000 each of the next 40 years, and invest that money in an account that pays 9% annual interest. In addition, you plan to pay for your childâs college education beginning in 20 years.
I'd only suggest this if you plan to hold the bonds to maturity, which is what I'm going to recommend. You have about $300 earning a 4% yield, and you can keep it invested for about a year. If you don't need the money today, then I suggest that you hold on to the bonds. When you cash in the bonds, you'll owe federal income tax on the interest income.