Personal Finance 223 1B
The rule of 72 is.
Used to estimate how fast prices will double using annual rates
At the end of the year Yvonne received a form from her bank that reported income from her savings. That form is called.
10-99
If you begin saving 2000 dollars a year at 5% interest and save it for 9 years, what will these finds grow to in these years.
11.027x 2000
This tax is a major financial planning factor for most people because it is sometimes imposed at the federal state and local level.
Income tax
The main purpose of a personal financial statement.
All of the above
The types of tax services available that offer professional tax assistance use.
All of the above
Disposable income equals
Amount of money a person or household has to spend
How long should you keep documents relating to investments.
As long as you own the item
The document that would be most useful to plan spending and saving to achieve financial goals.
Budget
Adjustments to income include all of the following except.
Charity contributions
Fees, tips, and bonuses are forms of.
Earned income
A formalized report that summarizes your current financial situation analyzes your financial needs and recommends future financial activities.
Financial plan
An investor should expect to receive a risk premium.
Higher uncertainty about getting his/her money back
An advantage of effective personal financial planning is a what.
Increase control of financial affairs
You may be required to make estimated tax payments if.
Independent contractor
The inability to pay debts when they are due because liabilities far exceed the value of assets.
Insolvency
The goal to investing 50 dollars a month for the next 12 years for your nephew's college tuition is a
Long term goal
Discretionary income equals.
Money left over after paying housing, food, and other necessities
IF I can a dollar today and earn interest on it then it should be worth... in the future
More
The amount you would have left if all assets were sold, and all debts were paid in full is called
Net worth
When creating a budget which of the following statements is true.
Numbers in the budget are estimates
A worker's primary goal should be.
Pay his/her fair share taxes while taking advantage of appropriate tax benefits
Which of the following will increase the interest rate for a loan.
Poor credit rate
Taxes on earnings that fund old age, survivor, and disabilities fund.
Social security
Income that is not subject to tax is called.
Tax exempt income
Money management refers to.
day to day financial activities
