Topic 7 DQ 2

What is true about the way you should approach financial goals across different stages of your life? A.As you progress through life, your values and financial possibilities will gradually change, which leads to an evolution of your financial goals over time. b. Most people tend to make more money as they grow older and more experienced. After a certain point in your life you should have enough money to meet all of your financial goals, at which point you will no longer need to concern yourself with long-term goals. c. You need to be consistent and determined when it comes to financial goals. The financial goals you make as a young adult should stay in place for the rest of your life. d. Failure to meet a financial goal is a sign of personal weakness, so you should never alter a goal until you have completed it exactly as you imagined it

You have two investments that have positive net present values and are financially feasible. Your boss wants you to make a recommendation on which one of the two to invest in given different useful lives? How do you account for this/make the decision?

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.

Think through all the assets you own. What would you say is your approximate “net worth” if you were a business? Calculate this as a simple financial statement, with items (or categories) listed along with their approximate value; the list should contain at least four items or categories. (As a reminder, this is absolutely separate from any evaluation of a person’s worth in the ways that matter most in life!)

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?

Why do you think people have such a hard time with long-term goals like saving for retirement, getting life insurance or estate planning, yet see the need and importance for this type of think for small things?

Sam is planning to start a new business. If he invests all his personal savings in the business, the interest that he could have earned on those savings is considered a(n) Blank______. Multiple choice question. opportunity cost sunk cost financing cost irrelevant cost

Which of the following is not a stage in the financial planning life cycle? Stage 4 - which involves transferring all of your assets to your family and friends so that the government does not take it when you die Stage 3 - focuses on the ability to live on the money that has been saved in retirement Stage 1 - accumulating wealth Stage 2 - which shifts the focus on preserving and increasing the wealth that one has accumulated

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?

In his best seller Wealth Without Risk, Charles J. Givens, the self-styled expert on “low-risk ways to achieve and hold on to wealth,” offers the following advice as his  strategy #32: “Buy disability insurance only if you are in poor health or accident prone.” What is your reaction to this “strategy?”

Please help with explaining how I can answer the following if I chose the role of an investor:   choose the role of an investor, creditor, taxpayer, or benefactor of one of the organizations they have presented. Referring to the information provided by your classmates related to the informational needs of the user group you have chosen, state whether the objectives of financial reporting they have listed meet your needs, whether any additional information is needed by your user group, and why this information would be beneficial to the financial decisions you would need to make. Are there any additional objectives that should be listed for your user group, if so what are they? How do your needs differ from the other user groups? The information is below: For both our initial discussion and my final project, GEB will be the nonprofit (NFP) organization I study along with Peekskill, NY as the local government. Both are in neighboring towns to my home base. Home Depot will be the…

Answer the following questions What do you think of Brad and Barbara’s seeking help for Brad’s parents? What prompted Richard to seek assistance? Was it only because of Brad and Barbara? What type of financial plan seems appropriate for Richard and Monica and why do you think Monica didn’t react more negatively to the financial news?

Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions.   For each question: Estimate without using a table, calculator, etc.   Document the “step-by-step” detail showing them how you solved the question.   NOTE: To solve use one of the following: EXCEL   Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer.   Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution.

Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions.   For each question: Estimate without using a table, calculator, etc.   Document the “step-by-step” detail showing them how you solved the question.   NOTE: To solve use one of the following: EXCEL   Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer.   Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution.       Problems start with “Friend #1” at the top of page 2.

Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions.   For each question: Estimate without using a table, calculator, etc.   Document the “step-by-step” detail showing them how you solved the question.   NOTE: To solve use one of the following: EXCEL   Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer.   Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution.

Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions.   For each question: Estimate without using a table, calculator, etc.   Document the “step-by-step” detail showing them how you solved the question.   NOTE: To solve use one of the following: EXCEL   Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer.   Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution.

There are many ways to invest money. Jaleel wonders what are the investment options he can choose from. Choose three asset classes from the list below and help Jaleel to have a closer look at each of them. You are expected to explain the unique characteristics of the asset class, their associated risks and potential returns. For each asset class, you should use one or two examples to support your explanation. Asset Class Characteristics Risk Potential Returns Example Cash Products Fixed Income Equities Currencies Derivatives

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.

Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions. For each question: A. Estimate without using a table, calculator, etc. B. Document the "step-by-step" detail showing them how you solved the question. NOTE: To solve use one of the following: • EXCEL Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer. C. Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution. Friend #1 – Car Loan – What will by my monthly payment if I purchase a used car for $8,500? The dealer has offered to finance the purchase (car loan) over…

Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions. For each question: A. Estimate without using a table, calculator, etc. B. Document the "step-by-step" detail showing them how you solved the question. NOTE: To solve use one of the following: • EXCEL Include all the detail steps for whichever tool you choose. For example, if using EXCEL show all formulas (copy so reader could duplicate your work). If using a business calculator, in detail in proper order show numbers and buttons you input to obtain your answer. C. Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution. Friend #3 – Home Mortgage Payment – I found my dream house in St. Paul but I am not sure I can afford it? I have the $15,000 for the down payment but it is…