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3 years ago

The advantages of personal financial planning include:

Business

1 answer:

den301095 [7]3 years ago

7 0

Answer:

d. All of these

Explanation:

Personal financing is the process of organizing and managing an individual or household's income to achieve set financial goals. It involves managing personal finance activities such as income, expenditure, savings, and investments. The primary objective of personal finance is to assist individuals maximize their current incomes and make future plans. As a result, they can achieve both short term and long term goals.

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Joann wants to save for her daughter's education. Tuition costs $10,000 per year in today's dollars. Her daughter was born today

Anettt [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Joann wants to save for her daughter's education. Tuition costs $10,000 per year in today's dollars. Her daughter was born today and will go to school starting at age 18. She will go to school for 4 years. She can earn 11% on her investments and tuition inflation is 6%.

First, we must find the cost of the tuition for 18 years and so on from now.

FV= PV*(1+i)^n

FV= 10,000*(1.06)^18= 28,543.39

Year 2= 28,543.39*1.06= 30,256

Year 3= 30,256*1.06= 32,071.36

Year 4= 32,071.36= 33,995.64

Total= 124,866.39

Now, we can calculate the annual deposit:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (124,966.39*0.11)/[(1.11^18)-1]= $2,479.69

3 0

3 years ago

Jan pay $70 each month for her auto insurance policy. This regular payment is call a

Svetach [21]

Monthly payment because she pays it every 30 days

7 0

3 years ago

For a normal good, if the price of a substitute good decreases then:

geniusboy [140]

Answer:

(B) the demand curve shifts leftward while the supply curve stays the same.

Explanation:

"Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases. "

Reference: Khan Academy. “Price of Related Products and Demand.” Khan Academy, Khan Academy, 2019

8 0

3 years ago

Sufficient Dwelling Coverage? Colton Gentry of Lancaster, California, has owned his home for ten years. When he purchased it for

Shtirlitz [24]

Answer:

a. $17,978

b. $300,000

Explanation:

Conditions

The cotton country of lancaster, california has owned his home for ten years
purchased it for $178,000, cotton bought a $160,000 homeowner's insurance policy

the replacement cost of the home is now $300,000

a. hence,

the proportion of the house insured = $\frac{InsuranceAmount}{PriceOfThe Home} \times 100$ %

$= \frac{160000}{178000}\times 100$

= 89.89%

Percentage amount covered by the policy

= proportion of the house insured = 89.89%

Amount covered by the policy in dollars

= $20,000 × 89.89%

= $17,978

Amount of insurance on the home that cotton should now carry to be fully reimbursed for a fire loss = current value of the home

= $ 300,000

5 0

3 years ago

Simon, the CEO of a consumer electronics firm, receives a huge positive response from the industry experts and consumers for int

Anastasy [175]

Answer:

creative

Explanation:

He could either be a humble, extroverted, born or creative leader. From these options the most intuitive answer would be that he is a creative leader given that he has introduced "breakthrough technologies" in the companies products which would only be possible through a great amount of initiative and creativity.

The term "breakthrough technologies" is the key word in answering this question as it refers to innovation that has never been seen before. Thus, it would require a great deal of creativity to think of and successfully introduce and implement into a company.

7 0

3 years ago