BUSN 380 help Making Decisions/uophelp.com BUSN 380 help Making Decisions/uophelp.com | Page 16

Question 5.5. (TCO 1) The future value of an account in which $2,000 is
deposited each year for 5
years, and which earns 4%, is approximately _____ after 5 years.
$2,000
$2,400
$10,000
$400
$10,800
Question 6.6. (TCO 1) Personal financial planning has a main goal of
reducing a person's tax liability.
saving and investing for future needs.
spending to achieve financial objectives.
saving, spending, and borrowing based on current needs.
achieving personal economic satisfaction.
Question 7.7. (TCO 1) When it comes to the financial planning process,
the first step is to
develop financial goals.
implement the financial plan.
evaluate and revise your actions.
analyze your current personal and financial situation.
create a financial plan of action.
Question 8.8. (TCO 1) If a person wants to determine the current value
of a desired amount for the
future, the following computation would be used.
Simple interest
Present value of a single amount
Future value of a series of deposits
Future value of a single amount
Present value of a series of deposits