Chapter 1. Personal Financial Planning In Action (Notes and Discussion Questions)
- Due Jan 23, 2018 by 11:59pm
- Points 100
- Submitting a file upload
- Available Jan 17, 2018 at 11:59pm - Jan 23, 2018 at 11:59pm
Please submit your chapter notes along with your responses to the following Discussion Questions:
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1. |
In your opinion, what is the main benefit of wise financial planning? (LO1.1) |
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2. |
What factors in an economy might affect the level of interest rates? (LO1.1) |
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3. |
Talk with several people about their financial goals. How have their employment situations affected their financial decisions? (LO1.2) |
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What are possible drawbacks associated with not considering opportunity costs and time value of money when making financial decisions? (LO1.3) |
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5. |
Describe risks that you might encounter when making financial decisions over the next few years. (LO1.4) |
Self-Test Problems
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1. |
The Rule of 72 provides a guideline for determining how long it takes your money to double. This rule can also be used to determine your earning rate. If your money is expected to double in 12 years, what is your rate of return? |
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If you desire to have $10,000 in savings eight years from now, what amount would you need to deposit in an account that earns 5 percent? |
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