Question
sophia 23 , completed her bachelor of science degree one year ago . the major cost of her tution and books was covered by a
sophia 23 , completed her bachelor of science degree one year ago . the major cost of her tution and books was covered by a scholarship . through wise planning she was able to save $25000 from her part time job .Acting on a suggestion from her parents Sophia met with a financial planner who advised her to invest money in low risk bonds and guaranted investment certificate .Sophia works in an office in toronto . Ontario and she earns$55000 a year .in approximately three years she would like to return to school and start her master's degree. then she would like to buy a house . Sophia wants to live on her salary and invest $5000 annually each year for 3 years as well as the $25000 she has already saved for her education and future home.
questions
1 how did sophia benefit from her parents 'advice and her own financial planning ?
2 what decisions does sophia need to make regarding her future ?
3 how could various personal and economic factors influence Sophia's financial planning?
4 what would be the value of sophia's $25000 and $5000 annual savings be in three years if it earned an annual interest rate of 3.5 percent ?
5 conduct a web search to obtain information that sophia may find useful.
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