Question
1) What would an initial investment of $3,000 grow to if it is compounded annually at 10% for 5 years? A.$4,832 B.$4,500 C.$6,286 D.$1,863 E.none
1) What would an initial investment of $3,000 grow to if it is compounded annually at 10% for 5 years?
A.$4,832
B.$4,500
C.$6,286
D.$1,863
E.none of the above
2) When implementing the financial plan,what makes the plan a success?
A.The plan was a solution to their problem
B.The plan was both qualitatively and quantitatively accurate
C.The plan addressed social needs
D.The plan addressed financial needs
3) Whole life insurance may be appropriate for people who:
A.lack savings discipline
B.have no family responsibilities
C.are in a low tax bracket
D.like to invest in growth investments
4) Assume that for his retirement an investor invests $2,000 per year for 35 years. If the investor can earn ten percent return, what will be the ending value?
A.$542,049
B.$19,288
C.$77,000
D.$596,254
E.none of the above
5) Your text lists 7 areas of financial planning. The class listed 5. Which areas can be consolidated?
A.Investment planning and tax planning
B.Investment planning and education planning
C.retirement planning and estate planning
D.the entire financial home
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