please help for chapter 1 questions, thank you!

I did not have any ideas for it.

Chapter 1 1. How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas. 2. Recommend three financial goals and related activities for someone in each of the following circumstances: 1. A Junior in college 2. A 30-year-old computer programmer who plans to earn an MBA degree 3. A couple in their 30s with two children, ages 5 and 9 4. A divorced 42-year-old man with a 16-year-old child and a 72-year-old father who is ill 3. Summarize current and projected trends in the economy with regard to GDP growth, unemployment, and inflation. How should you use this information to make personal financial and career planning decisions? 4. Assume that you graduated from college with a major in marketing and took a job with a large consumer products company. After three years, you are laid off when the company downsizes. Describe the steps you'd take to \"repackage\" yourself for another field. Chapter 2 1. Scott Bennett is preparing his balance sheet and income and expense statement for the year ending June 30, 2016. He is having difficulty classifying six items and asks for your help. Which, if any, of the following transactions are assets, liabilities, income, or expense items? 1. Scott rents a house for $1,350 a month. 2. On June 21, 2016, Scott bought diamond earrings for his wife and charged them using his MasterCard. The earrings cost $900, but he hasn't yet received the bill. 3. Scott borrowed $3,500 from his parents last fall, but so far, he has made no payments to them. 4. Scott makes monthly payments of $225 on an installment loan; about half of it is interest, and the balance is repayment of principal. He has 20 payments left, totaling $4,500. 5. Scott paid $3,800 in taxes during the year and is due a tax refund of $650, which he hasn't yet received. 6. Scott invested $2,300 in some common stock. 2. Use future or present value techniques to solve the following problems. 1. If you inherited $45,000 today and invested all of it in a security that paid a 7 percent rate of return, how much would you have in 25 years? 2. If the average new home costs $275,000 today, how much will it cost in 10 years if the price increases by 5 percent each year? 3. You think that in 15 years, it will cost $214,000 to provide your child with a 4-year college education. Will you have enough if you take $75,000 today and invest it for the next 15 years at 4 percent? 4. If you can earn 4 percent, how much will you have to save each year if you want to retire in 35 years with $1 million? Chapter 4 1. Your parents are retired and have expressed concern about the really low interest rates they're earning on their savings. They've been approached by an advisor who says he has a \"sure-fire\" way to get them higher returns. What would you tell your parents about the low-interest-rate environment, and how would you advise them to view the advisor's new prospective investments? 2. You're getting married and are unhappy with your present bank. Discuss how you should go about choosing a new bank and opening an account. Consider the factors that are important to you in selecting a banksuch as the type and ownership of new accounts and bank fees and charges. 3. If you put $6,000 in a savings account that pays interest at the rate of 4 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put $6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years? Chapter 5 1. Debbie Snyder has just graduated from college and needs to buy a car to commute to work. She estimates that she can afford to pay about $450 per month for a loan or lease and has about $2,000 in savings to use for a down payment. Develop a plan to guide her through her first car-buying experience, including researching car type, deciding whether to buy a new or used car, negotiating the price and terms, and financing the transaction. 2. Cliff Arthur has equally attractive job offers in Miami and Los Angeles. The rent ratios in the cities are 8 and 20, respectively. Cliff would really like to buy rather than rent a home after he moves. Explain how to interpret the rent ratio and what it tells Cliff about the relative attractiveness of moving to Miami rather than Los Angeles, given his stated goal. Chapter 6 1. After graduating from college last fall, Jessica Stevens took a job as a consumer credit analyst at a local bank. From her work reviewing credit applications, she realizes that she should begin establishing her own credit history. Describe for Jessica several steps that she could take to begin building a strong credit record. Does the fact that she took out a student loan for her college education help or hurt her credit record? 2. Isaac Primack recently graduated from college and is evaluating two credit cards. Card A has an annual fee of $75 and an interest rate of 9 percent. Card B has no annual fee and an interest rate of 16 percent. Assuming that Isaac intends to carry no balance and pay off his charges in full each month, which card represents the better deal? If Isaac expected to carry a significant balance from one month to the next, which card would be better? Explain 3. Lei Sung was reviewing her credit card statement and noticed several charges that didn't look familiar to her. Lei is unsure whether she should \"make some noise,\" or simply pay the bill in full and forget about the unfamiliar charges. If some of these charges aren't hers, is she still liable for the full amount? Is she liable for any part of these chargeseven if they're fraudulent? _____________________________________________________________________________