Unit 4 Assignment: Money Management
Assignment 4: Money Management
(15 points) In Section 4, you learned about money management. Now, you'll apply what you learned. 1. List at least three of your financial goals. Explain whether they are short-term, intermediate, or long-term. (1-3 sentences. 3.0 points)
Saving enough money for a perfume (short term)
Save enough money for a fancy vacation to Paris (intermediate) paying down payment to a car (long term)
2. List at least three things you would consider when choosing a bank and account type. (1-3 sentences. 3.0 points)
Banknote – A paper bill or note produced by a bank that has a specific value in a currency. How many branches the bank has. How good its protection is against theft and loss.
3. Describe at least four ways you can take money out of a checking account. (1-4 sentences. 2.0 points)
Checks – Printed slips of paper with your bank account information on them. You can use them to pay for things with money from your checking account.
Debit card – A way to pay for things using money from your checking account. It is a card you can use instead of using checks.
4. Calculate the ROI dollar amount and percentage for these example investments.
a. You invest $50 in a government bond that says you can redeem it a year later for $54. Use the instructions in Lesson 3 to calculate the ROI dollar amount and percentage. (2.0 points)
TIP: Subtract the initial investment from the total return to get the ROI dollar amount. Then divide the ROI dollar amount by the initial investment, and multiply that number by 100 to get the percentage.
b. You invest $100 in stocks and sell them one year later for $115. Use the instructions in Lesson 3 to calculate the ROI dollar amount and percentage. (2.0 points)
TIP: Subtract the initial investment from the total return to get the ROI dollar amount. Then divide the ROI dollar amount by the initial investment, and multiply that number by 100 to get the percentage. 5. Describe at least three investments you want
(15 points) In Section 4, you learned about money management. Now, you'll apply what you learned. 1. List at least three of your financial goals. Explain whether they are short-term, intermediate, or long-term. (1-3 sentences. 3.0 points)
Saving enough money for a perfume (short term)
Save enough money for a fancy vacation to Paris (intermediate) paying down payment to a car (long term)
2. List at least three things you would consider when choosing a bank and account type. (1-3 sentences. 3.0 points)
Banknote – A paper bill or note produced by a bank that has a specific value in a currency. How many branches the bank has. How good its protection is against theft and loss.
3. Describe at least four ways you can take money out of a checking account. (1-4 sentences. 2.0 points)
Checks – Printed slips of paper with your bank account information on them. You can use them to pay for things with money from your checking account.
Debit card – A way to pay for things using money from your checking account. It is a card you can use instead of using checks.
4. Calculate the ROI dollar amount and percentage for these example investments.
a. You invest $50 in a government bond that says you can redeem it a year later for $54. Use the instructions in Lesson 3 to calculate the ROI dollar amount and percentage. (2.0 points)
TIP: Subtract the initial investment from the total return to get the ROI dollar amount. Then divide the ROI dollar amount by the initial investment, and multiply that number by 100 to get the percentage.
b. You invest $100 in stocks and sell them one year later for $115. Use the instructions in Lesson 3 to calculate the ROI dollar amount and percentage. (2.0 points)
TIP: Subtract the initial investment from the total return to get the ROI dollar amount. Then divide the ROI dollar amount by the initial investment, and multiply that number by 100 to get the percentage. 5. Describe at least three investments you want