Questions from Personal Finance

Q: How can using personal financial planning tools help you improve your financial

How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas.

Q: Describe your current status based on the personal financial planning life cycle

Describe your current status based on the personal financial planning life cycle shown in Exhibit 1.7. Fill out Worksheet 1.1, “Summary of Personal Financial Goals,”...

Q: Recommend three financial goals and related activities for someone in each of

Recommend three financial goals and related activities for someone in each of the following circumstances: a. A junior in college b. A 30-year-old computer programmer who plans to earn an MBA degree c...

Q: Calculate your own debt safety ratio. What does it tell you

Calculate your own debt safety ratio. What does it tell you about your current credit situation and your debt capacity? Does this information indicate a need to make any changes in your credit use pat...

Q: Demonstrate the differences resulting from a $1,000 tax credit

Demonstrate the differences resulting from a $1,000 tax credit versus a $1,000 tax deduction for a single taxpayer in the 25 percent tax bracket with $40,000 of pre-tax income.

Q: Jim Grant plans to borrow $8,000 for five years

Jim Grant plans to borrow $8,000 for five years. The loan will be repaid with a single payment after five years, and the interest on the loan will be computed using the simple interest method at an an...

Q: Isabella Harris has an overdraft protection line. Assume that her October

Isabella Harris has an overdraft protection line. Assume that her October 2015 statement showed a latest (new) balance of $862. If the line had a minimum monthly payment requirement of 5 percent of th...

Q: Use Worksheet 9.2. Do you need disability income insurance

Use Worksheet 9.2. Do you need disability income insurance? Calculate your need using Worksheet 9.2. Discuss how you’d go about purchasing this coverage. Worksheet 9.2:

Q: What is cash management, and what are its major functions?

What is cash management, and what are its major functions?

Q: Explain how the composition of the principal and interest components of a

Explain how the composition of the principal and interest components of a fixed-rate mortgage change over the life of the mortgage. What are the implications of this change?