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FIN 420 Entire Course

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FIN 420 Week 1 DQ 1

FIN 420 Week 1 DQ 2

FIN 402 Week 1 Individual Assignment Personal Finance Mission Statement

FIN 420 Week 2 Individual Assignment Personal Finance Problems and Summary

FIN 420 Week 2 Personal Finance Quiz

FIN 420 Week 2 DQ 1

FIN 420 Week 2 DQ 2

FIN 420 Week 3 Individual Problem Worksheet

FIN 420 Week 3 Learning Team Problems

FIN 420 Week 3 DQ 1

FIN 420 Week 3 DQ 2

FIN 420 Week 4 Personal Finance Quiz

FIN 420 Week 4 Individual Assignment Mutual Fund Evaluation

FIN 420 Week 4 DQ 1

FIN 420 Week 4 DQ 2

FIN 420 Week 5 Individual Problem Worksheet

FIN 420 Week 5 Team Assignment Financial Planning in Action

FIN 420 Week 5 DQ 1

FIN 420 Week 5 DQ 2 *****************************************

FIN 420 Week 1 DQ 1

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Describe your current budgeting system. What factors influence your financial decisions? What are the benefits or concerns of your current budgeting system?

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FIN 420 Week 1 DQ 2

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Ch. 1 of Focus on Personal Finance introduces eight components of personal financial planning. Describe three components of personal financial planning. Visit one of the Key websites suggested on the corresponding pages of Focus on Personal Finance for each of the three components you described. What information did you find most valuable on the websites you visited?

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FIN 420 Week 1 Individual Assignment Personal Finance Mission Statement

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Write a 350- to 700-word personal finance mission statement that describes where you want to be financially and how you want to get there. Communicate the following in your mission statement:

Personal values

Financial goals

Future vision

An easy action to take to meet your mission

A difficult action to take to meet your mission

Format your assignment consistent with APA guidelines.

Note. The information that students use in individual assignments remains confidential between the student and the instructor.

Click the Assignment Files tab to submit your assignment.t.

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FIN 420 Week 2 DQ 1

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Consider your personal cash flows. How would you adjust cash outflows (i.e. adjust your budget) if your household income was cut in half? If your cash inflows increased, how would you reallocate your surplus to meet your personal needs and objectives? How do you use credit as a part of your personal financial plan?

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FIN 420 Week 2 DQ 2

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Many different types of financial institutions exist. Differentiate between deposit institutions and non-deposit institutions. Provide two examples of deposit and non-deposit financial institutions with a brief explanation of each. How can you use each of these financial institutions to manage your cash flows and develop or enhance your personal financial plan?

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FIN 420 Week 2 Individual Assignment Personal Finance Problems and Summary

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Complete the Personal Finance Problems — Week 2.

Write a 750- to 1,050-word summary of the problems in which the team includes the following:

What influence does present and future value of money have on the different scenarios?

What is the role of risk in determining decisions to diversify or how assets are allocated?

Submit the team’s answers to the questions including all calculations and a summary of the results.

Click the Assignment Files tab to submit your assignment.

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FIN 420 Week 2 Personal Finance Quiz

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1 Carla Lopez deposits $2,500 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?

2 An ATM with a service fee of $2 is used by a person 100 times in a year. What would be the future value in 10 years (use a 3 percent rate) of the annual amount paid in ATM fees?

3 If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of that amount over 10 years if the funds were deposited in an account earning 3 percent?

4 A financial company that advertises on television will pay you $60,000 now for annual payments of $10,000 that you are expected to receive for a legal settlement over the next 10 years. What is the present value of this assuming the time value of the money at 10%?

5 Brenda plans to reduce her saving (that is, she will spend more) by $50 a month. What would be the foregone future value of this reduced saving over the next 10 years? (Assume monthly cash flows, and an annual interest rate of 4 percent.)

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FIN 420 Week 3 DQ 1

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Evaluate your personal risk tolerance using Exhibit 11–2 A Quick Test to Measure Investment Risk in Ch. 11 of Focus on Personal Finance. Based on your results, were you considered more conservative or less conservative? What factors affected your investment choices? Consider a friend or family member who is more conservative or less conservative than you. How do their money management behaviors differ from your own?

FIN 420 Week 3 DQ 2

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Financial experts agree that having an emergency fund is an essential component of a comprehensive financial plan. However, advice regarding the number of months of household expenses the emergency fund should cover varies between 3 and 9 months. Taking into account the current financial environment, how many months of expenses would you recommend for an emergency fund and why? What are three investment options that are appropriate for an emergency fund? Which of these investment options offer the best returns? What reasons might encourage you to forego a higher return on your emergency funds?

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FIN 420 Week 3 Individual Problem Worksheet

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Complete Worksheet 37 in Focus on Personal Finance, “Your Financial Plan — Evaluating Corporate Bonds.”

Explain the principle of asset allocation. Using the Internet or library research, prepare a 2-minute presentation describing why the principle of asset allocation is important when establishing an investment program.

Assume you are 59 years old, want to retire in 6 years, and currently have an investment portfolio valued at $550,000 invested in technology stocks. After talking with friends and relatives, you have decided that you have “too many eggs in one basket.” Based on this information, use the asset allocation method described in this chapter and use the following table to diversify your investment portfolio. Then answer the following two questions:

o What are the advantages of asset allocation?

How could the time your investments have to work for you and your age affect your asset allocation?

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FIN 420 Week 3 Learning Team Problems

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Assume that you are choosing an investment for your retired parents. What are the advantages and disadvanges of each of the following?

o a bond issued by the federal government,

o a state or local government,

o or a corporation?

· Which would you recommend for your retired parents? Justify your answer.

· Five years ago, you purchased a $1,000 corporate bond issued by General Electric. The interest rate for the bond was 5%. Comparable bonds are paying 6% today.

o What is the approximate dollar price for which you could sell your General Electric bond?

o In your own words, describe why your bond decreased in value.

· Sidney took a $200 cash advance by using checks linked to her credit card account. The bank charges a 2% cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived.

o What was the cash advance fee?

o What was the interest for 1 month at an 18% APR?

o What was the total amount she paid?

o What if she had made the purchase with her credit card and paid off her bill in full promptly?

· Retirees often make a choice between the following: What are the advantages and disadvantages of both.

o 1) taking a lump-sum pension payout and purchasing an annuity (or having the company convert their benefit to an annuity for them) or

2) using the lump-sum payout to purchase a portfolio of bonds intended to provide them an income stream. Compare the advantages and disadvantages of each strategy.

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FIN 420 Week 4 DQ 1

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Adjustable rate mortgages (ARMs) have received a great deal of bad press due to the tremendous number of foreclosures resulting from families who could not afford the loan payments once the interest rates increased. Do you believe this loan option was used appropriately in recent years? Why or why not? Under what circumstances does the use of ARMs make sense? Please explain.

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FIN 420 Week 4 DQ 2

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Visit a site such as www.bankrate.com to determine current rates for both a 60-month and a 36-month loan on a new car where the buyer must finance $20,000. Using the loan calculator, what is the difference in monthly payments between the 60-month loan and the 36-month loan? Review the amortization tables. What is the difference in total interest one would pay over the life of these two loans? What do these differences show you about the true cost of the car?

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FIN 420 Week 4 Individual Assignment Mutual Fund Evaluation

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Choose a mutual fund family such as Vanguard, American Funds, T. Rowe Price, and so forth.

Identify one mutual fund from that family for each of the following categories:

Actively managed common stock fund

Fixed income fund

Balanced fund

International fund

Fund devoted to retirement investing

Write a 350- to 700-word mutual fund evaluation for each mutual fund using the worksheet of your financial plan as a template. Include the following in your evaluation:

Analysis of the characteristics of each fund

Recommendation of the type of investor to which each fund is suited

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FIN 420 Week 4 Personal Finance Quiz

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1 As a stockholder of Kentucky Gas and Oil, you receive its annual report. In the financial statements, the firm reported after-tax earnings of $1,200,000 and has issued 1,500,000 shares of common stock. The stock is currently selling for $24 a share. What is the per earnings share for Kentucky Gas and Oil?

2 Sarah and James Hernandez purchased 150 shares of Cisco Systems stock at $18 a share. One year later, they sold the stock for $25.40 a share. They paid a broker a $32 commission when they purchased the stock and a $40 commission when they sold the stock. During the 12-month period the couple owned the stock, Cisco Systems paid dividends that totaled $0.24. Calculate the Hernandezes’ total return for this investment.

3 As a stockholder of Kentucky Gas and Oil, you receive its annual report. In the financial statements, the firm reported after-tax earnings of $1,200,000 and has issued 1,500,000 shares of common stock. The stock is currently selling for $24 a share. What is the price-earnings (PE) ratio for Kentucky Gas and Oil?

4 For four years, Marty Campbell invested $4,000 each year in Newsome Golf Apparel. The stock was selling for $32 in 2008, $45 in 2009, $35 in 2010, and $50 in 2011. After four years, how many shares does Marty own?

5 Jan Throng invested $24,000 in the Invesco Charter Mutual Fund. The fund charges a 5.50 percent commission when shares are purchased. Calculate the amount of commission Jan must pay.

6 Betty and James Holloway invested $52,000 in the Financial Vision Social Responsibility Fund. The management fee for this fund is 0.60 percent of the total asset value. Calculate the management fee the Holloways must pay.

7 For four years, Marty Campbell invested $4,000 each year in Newsome Golf Apparel. The stock was selling for $32 in 2008, $45 in 2009, $35 in 2010, and $50 in 2011. What is Marty’s total investment in Newsome Golf?

8 Wallace Davis purchased 200 shares of Dell stock at $14.50 a share. One year later, he sold the stock for $11 a share. He paid his broker a $22 commission when he purchased the stock and a $24 commission when he sold it. During the 12 months he owned the stock, the company paid no dividends. Calculate Wallace’s total return on this investment.

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FIN 420 Week 5 DQ 1

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Life insurance is a topic many people do not like to discuss, but understanding your family’s needs and planning appropriately in the event of a premature death is also part of a comprehensive financial plan. Outlined in Ch. 10 are four methods for estimating life insurance needs. Which insurance options are most appropriate for your family situation? Based on what you have identified as most appropriate for you, do you currently have enough life insurance? If not, how can you close this gap?

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FIN 420 Week 5 DQ 2

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Consider your current financial plan. Based on what you have learned about your financial goals, risk tolerance, and risk and return of various investment options, what adjustments should you make to the asset allocation of your investment portfolio? What specific actions do you need to take to make those adjustments or to establish your investment portfolio? What adjustments will you need to make to your budget and investment portfolio to include adequate insurance?Consider your current financial plan. Based on what you have learned about your financial goals, risk tolerance, and risk and return of various investment options, what adjustments should you make to the asset allocation of your investment portfolio? What specific actions do you need to take to make those adjustments or to establish your investment portfolio? What adjustments will you need to make to your budget and investment portfolio to include adequate insurance?

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FIN 420 Week 5 Individual Problem Worksheet

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Complete the following problems:

· Describe the two types of tax-deferred investment accounts [an IRA, and a 401(k) or 403(b)], and contrast them with a regular taxable investment account. What types of investments are best held in a tax-deferred account? What types are best held as taxable savings?

· Describe the advantages to using a College Savings 529 Plan over gifting money directly to your children in the form of a Uniform Gift to Minor Account. What are some costs and disadvantages of 529 plans? What types of 529 plans are available in your state?

Using the Social Security Retirement Estimator (http://www.ssa.gov/estimator/), determine your retirement age and estimate the retirement benefits you will receive from Social Security if you work to your full retirement age.

Estimate your necessary living expenses when you retire and calculate the shortfall between this amount and your estimated social security benefit.

Calculate how much you need in savings today to meet that shortfall, or alternatively, how much you need to save per month between now and your full retirement age to meet the shortfall.

Read “Case in Point — A Single Father’s Tax Situation” in Ch. 3 of your text. Answer the following questions:

What are Eric’s major financial concerns in his current situation?

In what ways might Eric improve his tax planning efforts?

o Calculate the following:

· What is Eric’s taxable income? (Refer to Exhibit 3–1)

· What is his total tax liability (Use the Tax Rate table)? What is his average tax rate?

Based on his withholding, will Eric receive a refund or owe additional tax? What is the amount?

Use the “Figure It Out!” workhsheet in Ch. 10 of your textbook in the “Estimating Your Life Insurance Requirements” section to calculate your own life insurance needs. Obtain premium rates for $50,000 whole life, universal life, and term life policies. Compare the costs and provisions of these policies.

Read “Case in Point — Life Insurance for the Young Married” in Ch. 10. Answer the following:

What type of policy would you suggest for Jeff and Ann? Why?

In your opinion, do Jeff and Ann need additional insurance? Why or why not?

· Read “Case in Point — Planning for Retirement” in Ch. 14 of your text. Answer the following questions:

In the past, many workers chose to stay with their employers until retirement. What was the major reason for employee’s loyalty?

How did Maureen amass $1.4 million for retirement, while Therese could only accumulate $553,000?

Why do women need to start early to save for retirement?

What expenses may increase or decrease during retirement?

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FIN 420 Week 5 Team Assignment Financial Planning in Action

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Choose a minimum of three of the four following life situations (or use all four):

Husband/wife, two kids, 1 income, mortgage, good salary, some savings, no college fund

Divorced, 55 years old, $1.2 million, 2 kids in college, no debt

24-year-old single woman, college graduate, engineer, $20,000 savings

74-year-old widower, excellent pension, $500,000, long-term care insurance, three children

Write a 1,050- to 1,400-word paper in which you do the following:

Describe the risk tolerance and recommended asset allocation to match that risk for each of the life situations selected.

Choose some appropriate investments.

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