2024 – Assignment 3 Instructions Save the file in your Eship2 folder and name it with Assignment the section

Assignment 3

 

 

Instructions

 

 

Save the file in your Eship2 folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson.

 

 

Type the answers to the assignment’s questions. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress.

 

 

Review Lesson 4 of the Course Overview for instructions about turning in your assignments.

 

 

Assignment 3: Personal Finance

(25 points)

 

 

In Section 3, you learned about personal finance. Now, you’ll apply what you learned.

 

 

1. Write your answers to at least three of the Lesson 1 questions on the What You Want from Your Life page. (1-3 paragraphs. 5.0 points)

 

TIP: Separately, you can write out a vision statement for yourself. Since it’s personal, you don’t have to turn in your vision statement, but you should turn in your answers to at least three of the questions about what you want from your life.

 

 

2. List at least three of your financial goals. Explain whether they are short-term, intermediate, or long-term. (1-3 paragraphs. 2.5 points)

 

 

3. List at least three categories from your budget that show where your money will go. (1-3 sentences. 2.5 points)

 

 

4. List at least three features you would look for in a bank. (1-3 sentences. 2.5 points)

 

 

5. 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 $55. Use the instructions in Lesson 3 to calculate the ROI dollar amount and percentage. (5.0 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 $200 in stocks and sell them one year later for $230. Use the instructions in Lesson 3 to calculate the ROI dollar amount and percentage. (5.0 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.

 

 

 

6. Explain whether your priority in starting a company is making an equity investment or receiving income. Do you care more about selling the company for a profit, or about getting income from it? (1-3 sentences. 2.5 points)