$5,040 since Irene earned nearly earned about $4,800 less than what she would be making if she did not make her early withdrawal.
The advantages of primarily cash pay are the following:
1. It motivates the owner to expand the business.
2. The desirable increase in the level of services.
The disadvantages are the following:
1. There was a little incentive to the owner.
2. There was potential to lose sight to the customers.
A financial plan is more influenced by economic factors, values, goals and the current scenario.
<h3 /><h3>What is a financial plan?</h3>
It corresponds to a personal or organizational strategy to achieve financial goals through planning for the use of financial resources. Factors that influence financial planning are mastery of finance, social well-being, financial inclusion and financial literacy.
Therefore, financial planning is impacted by environmental and personal circumstances that will affect resource allocation needs to achieve goals and objectives.
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Answer:
$85.84 Million
Explanation:
Interest Income has been calculated as under:
Income on Consumer Loan = $372 * 17% = $63.24 Million
Income on Home Equity = $130 * 14% = $18.2 Million
Income on Consumer Loan = $40 * 11% = <u> $4.4 Million</u>
Total Income $85.84 Million
So the total income that the Friendly Financial will earn from the money invested will be $85.84 million.
