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MAVERICK [17]
2 years ago
5

Further explain the concept of personal finance. (3-4 sentences)

Business
1 answer:
vlabodo [156]2 years ago
3 0

Answer:

Personal finance is the area of study that covers a person's financial activity and how that affects their future. It can be thought of as a component in personal responsibility to understand one's strengths, weaknesses, value to society at large, what it means for someone to succeed or fail financially.

The goal is not necessarily money-related success. Instead, it is about creating an appropriate standard of living and ensuring the individual meets his or her desires most effectively while minimizing risk and without sacrificing freedom. Two keywords are investments (generating positive cash flow) and protection (insurance).

Explanation:

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What is the practice of banks and mortgage lenders identifying high-risk areas (usually low-income or minority neighborhoods) an
Bogdan [553]

Answer:

redlining

Explanation:

Redlining is an illegal banking practice that focuses on neighborhoods that are mostly inhabited by minorities. The term redlining itself comes from the practice of marking neighborhoods on city maps with red lines to represent them as dangerous both for banking purposes and high crime rates.

Banks cannot directly deny a credit based on where you live, but they can charge very high interest rates that make them very difficult to pay, or simply ask for a lot of paperwork and more requirements than usual.

4 0
3 years ago
Ted purchased an annuity today that will pay $1,000 a month for five years. He received his first monthly payment today. Allison
victus00 [196]

Answer:

The correct option is E,Ted's annuity has a higher present value than Allison's

Explanation:

Both annuities do not have equal amount today as $1000 received today is higher in value terms than $1000 receivable in a month's time since cash receivable earlier is much more valued than the one receivable later.

Ted's annuity is an  annuity due not an ordinary annuity

Allison's annuity is an ordinary annuity not annuity due

Allison's annuity has a lower present value than Ted's and not the other way round.

The only correct statement is option E,since Ted is expected to receive $1000 today, his annuity has a higher present value compared to Allison's

7 0
3 years ago
PLEASE HELP QUICK!! What type of strategy is being used by a car rental agency when it describes itself as the only rental compa
Tcecarenko [31]

There are different kinds of marketing strategy. Sales promotion is a type of strategy is being used by a car rental agency when it describes itself as the only rental company with a door-to-door service.

<h3>What is door-to-door promotion? </h3>
  • Door-to-door is known as a type of technique that is often used for sales, marketing, advertising, etc. This boast the sales of a product or services such as cars.

Tis is when a person or persons walk from the door of one house to the door of another, so as to sell or advertise a product. In the case of the car company, they deliver at home for ease to their customer and drives sales upward.

Learn more about Sales promotion from

brainly.com/question/1312782

5 0
2 years ago
Zen Manufacturing Company is considering replacing a four-year-old machine with a new, advanced model. The old machine was purch
dedylja [7]

Answer:

$4,800

Explanation:

The computation of additional annual cash inflow is shown below:-

Saving in Annual Maintenance Cost by new machine = $15,000 - $6,000

= $9,000

Net savings on Maintenance = $9,000 × (1 - 0.4)

= $5,400

Decrease in Depreciation due to purchase of New machinery

= ($60,000 ÷ 10) - ($45,000 - 10)

= $6,000 - $4,500

= $1500  

Tax to be paid due to decrease in Depreciation = Decrease in Depreciation due to purchase of New machinery × Tax rate

= $1,500 × 0.4

= $600

Net Annual cash Inflow due to new machinery =  Net savings on Maintenance - Tax to be paid due to decrease in Depreciation

= $5,400 - $600

= $4,800

So, for computing the additional annual cash inflow we simply applied the above formula.

4 0
3 years ago
To a retail business owner, what is “cost”
hammer [34]
Entrepreneur magazine reports startup costs between $2,000 and $50,000 for different retail enterprises, from antique furniture sales to musical equipment sales. A figure of $30,000 to launch a retail operation is a good median number to work with.
totally answer
4 0
3 years ago
Read 2 more answers
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