Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Case Study: Carol Jones Carol works as a business representative for an import/export company. Her job provides her with the opportunity to travel and experience
Case Study: Carol Jones Carol works as a business representative for an import/export company. Her job provides her with the opportunity to travel and experience new things. Because she travels so much, Carol feels that she does not have a handle on her finances. She has decided to pay a visit to a financial advisor for help. Carol's Salary $2,000 Auto Payment $262 Home $100,000 Mastercard $5,000 Int 15% Gas/Heating $100 Visa Card $3,000 Int 15% Electric $125 Bloomingdale Card $1,500 Int 29% Water $60 Personal Loan $5,000 Int 5%, 60 mths Internet/Cable $150 Mortgage $95,000 Phone $50 Mortgage Payment $796 Cell Phone $200 Car $20,000 Food $250 Gym Membership $20 Mortgage Payment $796 Personal Loan Payment $94 Car Insurance $165 Carol's 401K $50,000 Savings $500 Auto Loan $15,000 Checking $1,000 Visa Payment $60 Lawn Service $100 Bloomingdale Payment $30 Mastercard $100 Apply financial planning concepts to advise Carol and explain how Carol can benefit from financial planning. Describe the benefits of using financial statements in financial planning. Utilize and explain strategies that Carol can use to increase her net worth. How does this affect her cash flow? Describe the sources available for asset management. Compile a list of legal protections that can be used to protect Carols assets. Using the information provided for Carol create a balance sheet and cash flow statement. Estimate Carols overall net worth. Click the Assignment Files tab to submit your assignment.
Case Study: Carol Jones
Carol works as a business representative for an import/export company. Her job provides her with the opportunity to travel and experience new things. Because she travels so much, Carol feels that she does not have a handle on her finances. She has decided to pay a visit to a financial advisor for help.
Carol's Salary
$2,000
Auto Payment
$262
Home
$100,000
Mastercard
$5,000
Int 15%
Gas/Heating
$100
Visa Card
$3,000
Int 15%
Electric
$125
Bloomingdale Card
$1,500
Int 29%
Water
$60
Personal Loan
$5,000
Int 5%, 60 mths
Internet/Cable
$150
Mortgage
$95,000
Phone
$50
Mortgage Payment
$796
Cell Phone
$200
Car
$20,000
Food
$250
Gym Membership
$20
Mortgage Payment
$796
Personal Loan Payment
$94
Car Insurance
$165
Carol's 401K
$50,000
Savings
$500
Auto Loan
$15,000
Checking
$1,000
Visa Payment
$60
Lawn Service
$100
Bloomingdale Payment
$30
Mastercard
$100
Apply financial planning concepts to advise Carol and explain how Carol can benefit from financial planning. Describe the benefits of using financial statements in financial planning.
Utilize and explain strategies that Carol can use to increase her net worth. How does this affect her cash flow?
Describe the sources available for asset management.
Compile a list of legal protections that can be used to protect Carols assets.
Using the information provided for Carol create a balance sheet and cash flow statement. Estimate Carols overall net worth.
Click the Assignment Files tab to submit your assignment.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started