FIN 202 FIN202 Final Exam Answers (AAU Online)
1.Linda Ashworth is trying to decide whether to keep her money in a savings account or in a mutual fund. What would you tell her to help her analyze her decision?
2.What is meant by the term, "Time Value of Money"?
3.What steps should a person take when planning a career?
4.Darlene Elkin has the following financial amounts: checking accounts $850, savings account $3,500, credit card balance $300, jewelry $1,600, real estate valued at $78,000, and a mortgage on the real estate of $23,000. What is the total of Darlene's assets? What actions could she take to increase her net worth?
5.A friend comes to you for advice about improving his or her credit score. What advice would you give him or her? Make sure to include the five steps for improving your credit score.
6.Explain what amortization is, and how a down payment and loan duration impact it.
7.Why are the costs of health insurance and health care increasing?
8.Why do corporations issue stock? Why do investors buy that stock?
9.Why do investors purchase mutual funds instead of purchasing stocks, bonds, or other investments on their own?
10.What is estate planning, and how does your personal situation affect that planning?
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(TCO 3) Managers are often required to make decisions about the future based