Create an account
Some savings and investment choices have the potential for higher earnings. However, these may also be difficult to convert to cash when you need the funds. This refers to what type of risk?
A major activity in the planning component of financial planning is what?
Allocating current resources for spending
the problem of bankruptcy is associated with poor decision in the ________ component of financial planning.
A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends a direction fro your financial activities is a ___________
When an individual makes a purchase without considering the financial consequences of that purchase, they are ignoring the __________ aspect of financial planning?
As Jean Tyler plans to set aside funds for her young children's college education, she is setting a _____________ goal?
What is meant by "the time value of money"?
increase in an amount of money as a result of interest earned.
The amount of interest earned is determined by multiplying the amount in savings by the _____________.
annual interest rate and the time period.
If a person deposited $50 a month for 6 years earning 8 percent, this would involve what type of computation?
Future value of a series of deposits
Which type of computation would a person use to determine current value of a desired amount for the future?
Present value of a single amount
Changes in income, values, and family situation make it necessary to _________.
evaluate and revise your actions.
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