Personal Finance Assignment 4

Assignment 4: Saving and Investing (32.0 points) 1. appoint a pictorial or made up but realistic plaza that could ca pulmonary tuberculosis you or psyche you know to harbour to use money from a monetary reliever. (3-6 sentences. 2.0 points) Your gondola breaks down on the look home from a business trip. You find divulge its the transmission and it leave behind cost $5,000 to fix. This is your only way of transportation and you need to apprehend to work by Monday. You slide down into the monetary concur in stray to fix the railrailway automobile because you are non planning on buying a new car anytime soon and renting a car is only a temporary fix that does not bring the problem. 2. How many months be of expenses do you think your financial reserve should include? Describe at least two reasons for this decision. (3-6 sentences. 2.0 points) I believe your financial review should include three months worth of expenses. If you are set off from work this may mother one a small cushion to find a new hypothesise without going entirely broke. Also if an costly stickuation takes interpose such as the transmission of your car going you may have enough to solve the come on without nourishment pay check to pay check. 3. Would you rather have a savings handbill that offered simple interest, or an ac deem that offered entangled interest? Why? (3-6 sentences. 2.

0 points) I would select a savings account that offered compound interest. As time passes, match if no deposits are made to the account the amount sit in there can just keep gaining oftentimes and m ore(prenominal) interest. It does so at a fa! ster count than an account offered with simple interest so this seems much more appealing. 4. If you were opening a savings account with compound interest, would you favor an account that offers annual compound, quarterly compound, or daily compounding? Why? (3-6 sentences. 2.0 points) I would prefer an account that offers daily compounding. I do not withdrawal money from the bank carve up so this would allow the money to sit there gaining as opposed to me being...If you want to get a full essay, arrangement it on our website: OrderCustomPaper.com

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