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Week 5 Midterm ASSIGNMENT - 100 pts 30% This is your second week on the job working as a financial planner You are about to advise your next ent-Raul A originally from Mexico, about financial responsibility and growing his financial iteracy and net worth Raul is a 24 year old student who plans on living in Toronto permanently with his 6 year old dog called Scrufty Scruffy is a boxer and his gums swell a lot but Raul doesn't think it is a big problem at all. Once Raul finishes his degree-a Bachelor of Education, he dreams of getting a job in a Canadian High School. He would like to rent a place, perhaps a studio apartment downtown Toronto and buy a middle range car. He also wants to be able to visit his family in Mexico once or twice a year As he does not work, he also does not have any medical insurance for himself. He is due to finish his university degree in July 2022. He has 510 000 in his bank account and a $25 000 student loan. The federal student loan interest rate for undergraduates is 3.73% for the 2021-22 school year. As Raul is an overseas student in Canada, he needs some basic financial advice on how to start his own independent life. His family back home is well-off, however, Raul is very ambitious and wants to be financially independent from his family as soon as he graduates. He is positive he will do well in the future. You have noticed that since Raul is still quite new to Canada, he is not aware of many things eg he wants to use his credit card to buy a car. He doesn't know how much his loan repayments will be every month but wants to pay off his studentican debt within 5 years Week 5 Midterm Assignment 30% In this assignement project, you will use information and concepts learnt in class to give your client the best financial advice you can. Please go through class materials ie, assigned readings, lectures, presentations and other class resources to find relevant topics and ideas to meet your objective-provide financial information to your client, and remember-money matters. Aim to achieve your objective and give this young student the advice and support he needs and expects. Aim to exceed the student's expectation and give him your advice with quality in mind Please write down all your ideas, suggestions, advice, etc. Your reply should be more than 4 paragraphs and no more than 2 pages in length. Remember to use a variety of financial concepts discussed and learnt in class. You will be assessed on your ability to apply the concepts learnt in class to real life situations. Please consider your client and his needs as well as his expectations. Your client will need to understand some concepts to be successful i.e. disposable income or net-worth as well as different dimensions of social, emotional and cultural influences that could contribute to his financial success or the lack of thereof. Please address the issue of: buying a car using a credit card and the detrimental effect it could have on your client's financial situation due to the interest charges. What would be his interest changes if he bought a middle range $12 000 car? Having a pet can be a huge expense as well and it can be detrimental to Raul's financial success if he does not prepare for emergencies and if he does not have enough savings. What are Rauls monthly lean payments to pay off his student loan? What is the interest rate? Please analyze the situation and think critically to meet your objective. Week 5 Midterm Assignment 30% Your assignment will be marked on the following criteria: /100 points equal to 30% of your end mark The Contrat and Assignment Presentation Task Achievement-Did you how the instructions of the assignment? Was the information and years w gated? Was it cay to follow? Was there and condi at the end? Did you include the most important ideas? 20pts-3% gain and secrete and specific examples support pour W Interest of the audience and Length-Was the assignment appropriate length, not too long or too short Was the appropriate for the audience? Was the content relevant 20pts-3% Grammar and Vocabulary-Was your presentation clear and well organised? Was your writing and gray correct? Was it easy to follow and understand? Did you se transitions to link ideas? Did you une appropriate cabulary and register? Did you lew more formal writing com? 20% NOLUACION ACADEMY Week 5 Midterm ASSIGNMENT - 100 pts 30% This is your second week on the job working as a financial planner You are about to advise your next ent-Raul A originally from Mexico, about financial responsibility and growing his financial iteracy and net worth Raul is a 24 year old student who plans on living in Toronto permanently with his 6 year old dog called Scrufty Scruffy is a boxer and his gums swell a lot but Raul doesn't think it is a big problem at all. Once Raul finishes his degree-a Bachelor of Education, he dreams of getting a job in a Canadian High School. He would like to rent a place, perhaps a studio apartment downtown Toronto and buy a middle range car. He also wants to be able to visit his family in Mexico once or twice a year As he does not work, he also does not have any medical insurance for himself. He is due to finish his university degree in July 2022. He has 510 000 in his bank account and a $25 000 student loan. The federal student loan interest rate for undergraduates is 3.73% for the 2021-22 school year. As Raul is an overseas student in Canada, he needs some basic financial advice on how to start his own independent life. His family back home is well-off, however, Raul is very ambitious and wants to be financially independent from his family as soon as he graduates. He is positive he will do well in the future. You have noticed that since Raul is still quite new to Canada, he is not aware of many things eg he wants to use his credit card to buy a car. He doesn't know how much his loan repayments will be every month but wants to pay off his studentican debt within 5 years Week 5 Midterm Assignment 30% In this assignement project, you will use information and concepts learnt in class to give your client the best financial advice you can. Please go through class materials ie, assigned readings, lectures, presentations and other class resources to find relevant topics and ideas to meet your objective-provide financial information to your client, and remember-money matters. Aim to achieve your objective and give this young student the advice and support he needs and expects. Aim to exceed the student's expectation and give him your advice with quality in mind Please write down all your ideas, suggestions, advice, etc. Your reply should be more than 4 paragraphs and no more than 2 pages in length. Remember to use a variety of financial concepts discussed and learnt in class. You will be assessed on your ability to apply the concepts learnt in class to real life situations. Please consider your client and his needs as well as his expectations. Your client will need to understand some concepts to be successful i.e. disposable income or net-worth as well as different dimensions of social, emotional and cultural influences that could contribute to his financial success or the lack of thereof. Please address the issue of: buying a car using a credit card and the detrimental effect it could have on your client's financial situation due to the interest charges. What would be his interest changes if he bought a middle range $12 000 car? Having a pet can be a huge expense as well and it can be detrimental to Raul's financial success if he does not prepare for emergencies and if he does not have enough savings. What are Rauls monthly lean payments to pay off his student loan? What is the interest rate? Please analyze the situation and think critically to meet your objective. Week 5 Midterm Assignment 30% Your assignment will be marked on the following criteria: /100 points equal to 30% of your end mark The Contrat and Assignment Presentation Task Achievement-Did you how the instructions of the assignment? Was the information and years w gated? Was it cay to follow? Was there and condi at the end? Did you include the most important ideas? 20pts-3% gain and secrete and specific examples support pour W Interest of the audience and Length-Was the assignment appropriate length, not too long or too short Was the appropriate for the audience? Was the content relevant 20pts-3% Grammar and Vocabulary-Was your presentation clear and well organised? Was your writing and gray correct? Was it easy to follow and understand? Did you se transitions to link ideas? Did you une appropriate cabulary and register? Did you lew more formal writing com? 20% NOLUACION ACADEMY