James is starting to take his financial future seriously after studying finance at university. He is currently 25 years of age and wishes to retire from full-time work at the age of 55 with $2 000 000 in savings.  a) How much will James need to contribute at the end of each month in order to receive $2 000 000 in 30 years’ time at a compound interest rate of 7.25% p.a.?

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Cash and Liquid Asset Management

Cash management is the process of controlling cash inflow & cash outflow, managing the cashflows inside the business, and utilizing the cash for business operation at any point in time. A business has to maintain a certain level of cash to meet various financial obligations. Cash management is essential because businesses must utilize the cash to generate maximum profit. Cash management also ensures to maintain maximum liquidity in the business.