At the end of the year ...
the price will be 44,000*1.0324 = 45,425.60
the bank balance will be 44,000*1.02 = 44,880.00
This is 545.60 fewer dollars than required to pay the price.
You lose $545.60 in current-year buying power.
0.15 x 10^3 just means that you will move 3 decimal places to the right.
So we get 150
A) after 5 years she will pay $7,200
b) she will save $2880
Answer:
The steps:
- Establishing your current financial state
- Collecting the desired goals
- Analysis of any alternatives
- Develop the alternatives
- Implement the action plan
- Review the plan
Step-by-step explanation:
The steps involved in financial planing are;
- Knowing your current financial state
- Coming up with financial goals
- Determining alternative courses of action
- Evaluating the alternatives
- Creating and implementing the action plan
- Reevaluating and revising the plan
