eBook\ Financial planning case 5-1\ How Should the Johnsons Manage Their Cash?\ \ In January, Harry and Belinda Johnson had $10,660 in monetary assets: $1,100 in cash on hand; $1,200 in a statement savings account at First Credit Union earning 1.0 percent interest; $4,000 in a statement savings account at the Far West Savings Bank earning 1.1 percent interest; $2,260 in Homestead Credit Union earning a dividend of 1.3 percent; and $2,100 in their regular checking account at First Credit Union earning 1 percent.\ \ What specific recommendations would you give the Johnsons for selecting checking and savings accounts that will enable them to effectively use the first and second tools of monetary asset management?\ \ The input in the box below will not be graded, but may be reviewed and considered by your instructor.\ \ \ Their annual budget, cash-flow calendar, and revolving savings fund (see Table 3-6, 3-7, 3-8) indicate that the Johnsons will have additional amounts to deposit in the coming year. What are your recommendations for the Johnsons regarding use of a money market account? Why?\ \ The input in the box below will not be graded, but may be reviewed and considered by your instructor.\ \ \ What savings instrument would you recommend for their savings, given their objective of saving enough to purchase a new home? Support your answer.\ \ The input in the box below will not be graded, but may be reviewed and considered by your instructor.\ \ \ If the Johnsons could put most of their monetary assets ($10,660) into a money market account earning 1.6 percent, how much would they have in the account after one year? Round your answer to the nearest dollar.\ \ $ \ Imagine that Harry and Belinda had some disagreements regarding their anniversary dinner and holiday gift spending and ended up not having a balanced budget for the year. Provide some advice for the couple about how to resolve or, better, prevent such disagreements in the future.\ \ The input in the box below will not be graded, but may be reviewed and considered by your instructor.\