Topic 7 DQ 2

Determine the most valuable aspect of this course to you and explain how you plan to apply it to your personal financial practices.Share two ways that you feel you will be able to apply the concepts you learned in this course to your current or future work position.

Explain the idea of mental accounting. Group of answer choices   Mental accounting refers to the way we emotionally account for ups and downs of our lives.   Mental accounting refers to the interest rate we use when we calculate the present value of future mental assets.   Mental accounting is the way people keep track of their mental assets and liabilities.   Mental accounting is the notion of putting dollars in different mental categories where they take different values.

True or False. 1. In determining the direction of financial goals, one has to decide whether to continue the same course of action, expand or change the current situation. 2. Opportunity cost is expressed in monetary terms. 3. Personal financial plan helps a person remain financially solvent. 4.

Which of the following is not one of the most important questions to be asked when starting your business? Will you buy insurance for your business? Where will you get the long-term financing to pay for your investments? Will you bring in other owners, or will you borrow the money? How will you manage your everyday financial activities? What long-term investments should you take on?

Give one example on an opportunity cost that impacted you personally.    What was the opportunity cost? What was the impact of the choice you made? and How does the concept of opportunity cost impact your future personal finance decisions?

o Describe in detail how you are financing your college education. Include sources like scholarships, loans, family contributions, part- time jobs, savings, grants, etc. o How did you secure these financial resources? What challenges did you face in the process?

What is the basic formula for finance? For example, presenet and future value... I need to know the basic formulas to have some knowledge to do well in my class.

A certified financial planner notes that with an unsubsidized student loan, the borrower has the choice of whether to make interest payments on the loan while still in college. She advises that making the interest payments rather than postponing them until after graduation is "always to your financial benefit ... because otherwise the interest payments will capitalize" (a) (b) Why does she believe that making the payments would be to your fi- nancial benefit? Are there good reasons some students decide to postpone making the interest payments until after they graduate? Briefly explain. What does the financial planner mean when noting that the interest payments will "capitalize"?

1. Investments: A. Are the same as savings B. Should be a priority when receiving a paycheck C. Both Are the same as savings and Should be a priority when receiving a paycheck D. None of these   2. An example of a personal asset is a: A. Job B. Paycheck C. Car D. All of these E. None of these