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2 years ago

Why is personal finance dependent upon your behavior?

1 answer:

8 0

Personal finance depends on your behavior because you are the manager of your financial resources, so it is necessary to carry out personal planning of your finances.

Personal financial behavior can be measured by six dimensions, which are:

Emergency funds
Indebtedness level
Savings rates
Asset diversification
Retirement Preparation
Wealth distribution

Personal finances are directly impacted by our behaviors and decisions. Some of these behaviors are subconscious and difficult to identify, but they should be analyzed in case they negatively influence your finances.

Therefore, financial planning is essential to use your financial resources consciously and in accordance with your goals.

Learn more about personal finance here:

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You might be interested in

Staci invested $900 three (3) years ago. Her investment paid 10.8 percent interest compounded monthly. Staci's twin sister Shell

tekilochka [14]

Staci's investment is worth today <u>$1,242.58</u>.

Shelli's investment is worth today <u>$1,107.83</u>.

<h3>What is the future value of an investment?</h3>

The future value of an investment is the present value compounded periodically at an interest rate.

The future value can be determined using an online finance calculator as below.

<h3>Data and Calculations:</h3>

Staci's investment = $900

Investment period = 3 years

Interest rate = 10.8% compounded monthly

Stack's twin investment = $800

Investment period = 3 years

Interest rate = 11% compounded quarterly

<h3>Staci's investment:</h3>

N (# of periods) = 36 months (3 x 12)

I/Y (Interest per year) = 10.8%

PV (Present Value) = $900

PMT (Periodic Payment) = $0

<u>Results</u>:

FV = $1,242.58

Total Interest = $342.58

<h3>Shelli's investment:</h3>

N (# of periods) = 12 quarters (3 x 4)

I/Y (Interest per year) = 11%

PV (Present Value) = $800

PMT (Periodic Payment) = $0

<u>Results</u>:

FV = $1,107.83

Total Interest $307.83

Thus, the worth of Staci's investment today is <u>$1,242.58</u>, while Shell's is <u>$1,107.83</u>.

Learn more about determining future value at brainly.com/question/24703884

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6 0

1 year ago

What is an example of a long term liability?

sergij07 [2.7K]

Prporety it is the long-term

6 0

3 years ago

Read 2 more answers

Because self-managed teams were established at the Kinex plant, the number of electrical components produced has increased by 12

alexgriva [62]

The statement that is likely true about self-managed teams at Kinex is that self-managed teams generally control all of their own administrative tasks, including hiring and firing employees.

Self-managed teams made productivity increase and workers have more positive attitudes at Kinex, as this method of management ensures greater autonomy and authority for teams, making work more flexible, faster and more cooperative.

Therefore, self-managed teams are capable of increasing employee development, valuing work, motivation and, consequently, productivity.

Learn more here:

brainly.com/question/12175622

4 0

2 years ago

The HR manager of SuperGlam, an online discount fashion retailer, wanted to redesign the workflow in customer service, order ful

GrogVix [38]

Answer:

Job analysis skills.

Explanation:

Job analysis is a the ability to identify the detail of a job as well as determine the requirement needed to get such job. It also involves helps to show the importance of certain duties to a job.

Simply put, Job analysis can be defined as the way and manner by which a job's duties and requirements are set for employees.

In the above question, it can be seen that the HR of Superglam is trying to determine duties and employee requirement to enable efficiency of employees in their job posts.

Cheers.

8 0

2 years ago

You and your friends hike a total of 8 miles to the nearest campsite (Activity A). Upon arriving you break off into teams. One t

IgorLugansk [536]

Answer:

a. The critical path is 16 minutes.

b. The length of time to complete the entire process = 23 minutes.

Explanation:

a) Data and Calculations:

Activity Optimistic time Most Likely Time Pessimistic Time

to complete to Complete to Complete

A Hike to the campsite 3 5 8

B Set up campsite 2 4 5

C Collect wood for fire 1 3 5

D Start a fire 1 2 3

E Find water 0.5 1 3

F Collect water & bring it

back to camp 1 2 4

G Purify the water 1 2 4

H Cook and eat dinner 1 3 4

I Put out fire 1 2 4

J Dispose of food waste 0.5 2 3

K Return from food

waste disposal 0.25 1 2

Total time 12.25 27 45

Critical path: Activity A - Activity B

Activity A - Activity C 3 - Activity D 2 - Activity E 1 - Activity F 2

Activity G 2 - Activity H 3 - Activity I and J 2 - Activity K 1

= 3 + 2 + 1 + 2+ 2 + 3 + 2 + 1 = 16 minutes

Length of time to complete the entire process = 27 - 4 = 23

The critical path identifies the longest stretch of dependent activities and measuring the time required to complete them from start to finish.

5 0

2 years ago