Question 1

Hope Appleton is trying to decide whether to keep her money in a savings account or in a mutual fund. What would you tell her to help her analyze her decision?

Accepted Answer

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Question 2

How do interest rates influence financial planning?

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Question 3

Samara Banks, 35, has set a goal of having $1,500,000 by the time she retires in 30 years. She plans to achieve this by saving $5,500 per year, which she will invest in term deposits at the end of each year. The term deposits are expected to generate an average return of 10% for the next 30 years. Will she achieve her goal? (show calculations) If not, what can she do in order to reach her goal? List all the possible alternatives of action.

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Question 4

Briefly explain three types of financial and economic risks that tend to affect everyone.

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Question 5

People are commonly overwhelmed by the many influences on personal financial decisions. What are the factors affecting financial planning?

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Question 6

Your goal is to accumulate in 4 years $5,000. What will be your end of month monthly payment need to be to reach this goal if the monthly compounded interest you earn is:
A) 2%
B) 4%
C) 6%
Use your financial calculator.

Accepted Answer

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Question 7

What types of economic conditions are commonly associated with personal financial decisions? How can these risks be evaluated and minimized to reduce personal and financial difficulties?

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Quiz 1: Personal Financial Planning: An Introduction

Hope Appleton is trying to decide whether to keep her money in a savings account or in a mutual fund. What would you tell her to help her analyze her decision?

How do interest rates influence financial planning?

Briefly explain three types of financial and economic risks that tend to affect everyone.

People are commonly overwhelmed by the many influences on personal financial decisions. What are the factors affecting financial planning?

Your goal is to accumulate in 4 years $5,000. What will be your end of month monthly payment need to be to reach this goal if the monthly compounded interest you earn is: A) 2% B) 4% C) 6% Use your financial calculator.

What types of economic conditions are commonly associated with personal financial decisions? How can these risks be evaluated and minimized to reduce personal and financial difficulties?