AnswersSLPS-1207350-Mathematics for College Liberal Arts S2 - ICPersonal Finances

Personal Finances Answers

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1
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Referring to the investment pyramid above, explain what investments would be a wise starting point for the new investor.

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Based on the diagram above, which investment involves the greatest degree of risk? A. real estate B. collectibles C. corporate bonds D. certificates of deposit Please select the best answer from the choices provided

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3

Explain the difference between simple interest and compound interest.

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Long-term goals require __________ money and __________ effort than short-term goals.A.less . . . lessB.less . . . moreC.more . . . moreD.more . . . less

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5

Money committed to something that is expected to produce a financial profit is a(n) __________.A.debt B.investmentC.finance chargeD.interest payment

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6

Describe the differences between saving money at home and in a bank.

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7

Each of the following is a tip for saving EXCEPT:A.shop smartB.use credit cardsC.pay yourself firstD.focus on reaching a goal

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8

Explain why it is important to save.

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9

Describe the factors that need to be considered before making an investment.

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10

Describe what needs to be considered when setting up an estimated budget.

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