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Personal Finance Problem P1-3 Cash flows It is typical for Jane to plan, monitor, and assess her financial position using cash flows over a given
Personal Finance Problem P1-3 Cash flows It is typical for Jane to plan, monitor, and assess her financial position using cash flows over a given period, typically a month. Jane has a savings account, and her bank loans moncy at 6% pcr year while it offers short-term investment rates of 5%. Jane's cash flows during August were as follows: Item Cash inflow Cash outflow Clothes Interest reccived Dining out Groccrics Salary Auto payment Utilitics Mortgage Gas -$1,000 $ 450 -500 -800 4,500 -355 -280 -1,200 -222 a. Determine Jane's total cash inflows and cash outflows b. Determine the net cash flow for the month of August. c. If there is a shortage, what are a few options open to Jane? d. If there is a surplus, what would be a prudent strategy for her to follow
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