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Crank
3 years ago
7

What steps can be taken to build a sound financial reputation

Business
2 answers:
jok3333 [9.3K]3 years ago
8 0

planning for retirement


puteri [66]3 years ago
7 0

The seven steps to achieving a sound financial reputation include:

1)      Analysis of cash flow – Positive cash flow would mean having funds available for savings.

2)      Making a plan for retirement goals and other special goals.

3)      Increase retirement savings – This can be done by maximizing contributions in your retirement accounts or catch-up with missed contributions.

4)      Reduce income tax. Consult a tax professional to help you with your tax strategy.

5)      Keep pace with the current inflation rate.

6)      Manage potential risks and liabilities – Being covered with insurance can give you protection in times of unexpected risks.

7)      Consult a financial advisor to provide you with informed decisions. 

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A family buys a car for $25,000. The family pays $2,500 cash and takes out a loan for the rest at 8% simple interest.
Rom4ik [11]

Answer:

A. $150

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If the family takes out a loan for the rest, the amount taken as loan

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= $22,500

If interest of 8% is charged on the loan for 5years, the interest charged for the 5years can be gotten using simple interest formula:

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8 0
3 years ago
The amount of cash to be reported on the balance sheet at June 30 is the
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Answer:

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