Question

Budgeting Test - Plz Help!!!!!!! Will give out Medal!!

Answer 1

1. The three-legged stool deals with _____. (1 point)checking accounts, savings accounts, and investment accounts
checking accounts, savings accounts, and retirement planning
different types of retirement savings plans
budgeting, retirement planning, and investment accounts

2. Social security is a payment from _____. (1 point)the United States government
a pension plan
a state government
a private investment

3. When an asset increases in value, it is said to _____. (1 point)depreciate
be at market value
appreciate
have valuized

4. Which of the following is the best financial situation? (1 point)You saved enough for your emergency fund and have $2,358.96 on a credit card at a 3.5% APR.
You saved enough for your emergency fund and are paying off your credit card debt.
You have not saved enough for your emergency fund and have $538.98 on a credit card at a 9.8% APR.
You have not saved enough for your emergency fund and are paying off your credit card debt.

5. Your boss is impressed with your work and gives you a 3% raise. If the inflation rate is 3%, you are _____. (1 point)making more money in today’s dollars
making about the same amount of money in today's dollars
making less money in today's dollars
seeing no change in your paycheck

6. Emergency funds should have a mix of _____. (1 point)cash, regular savings accounts, insurance policies, and CDs
cash, checking accounts, and other investment accounts
checking accounts, savings accounts, and investment accounts
checking accounts, regular savings accounts, and CDs

7. It is best to save _____ months of fixed expenses for an emergency fund. (1 point)2 to 3
3 to 5
4 to 6
3 to 6

8. If you are in a great deal of debt but want to save for an emergency fund, you should _____. (1 point)save for the fund while paying down your debt
pay down your debt first
consider getting a second job to pay down your debt first
consider getting a second job, and save that job’s money, and then pay down your debt

9. As inflation increases, it causes the money you earn today to have _____. (1 point)more value in the future
less value in the future
more purchasing power in the future
no purchasing power effect in the future

For questions 11–20, you will be answering by filling in the blanks. Please be aware that your answer must include any commas or decimals in their proper places in order to be correct. The dollar signs have been provided. For example, if the answer is $1,860.78, then you will enter into the blank 1,860.78. Do not place any extra spaces between numbers, commas, or decimal places. Round any decimals to the nearest penny when the answer involves money, so that $986.526 would be typed into the blank as 986.53 and $5,698.903 would be typed into the blank as 5,698.90.
10. If your realized income is $834.26/wk, what is the maximum amount that should be used for fixed expenses per month? (1 point)
$
11. Your realized income is $3,167.89/month, and your fixed expenses are $954.32/every 2 weeks. If you save 50% of your discretionary monies each month, how much are you saving? (1 point)
$ /month
12. You have a credit card with a balance of $2,856.74 at a 14.75% APR. Instead of saving the amount in question #11 in a savings account, you put the amount toward reducing your debt. How much interest do you save in 1 full month? (1 point)
$
13. Your fixed expenses are $834.02/month. You save 5 months' worth in an emergency fund over a year’s time. How much did you save per month? (1 point)
$ /month
14. Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months worth in an emergency fund. How much do you need to save? (1 point)
$
15. Using the information from question #14, if you only want to put 50% of your discretionary monies toward the emergency fund each month, how many months will it take to fully fund it, excluding interest accrual? (Note: Round up to the next whole month.) (1 point)
months
16. Your fixed expenses are $1,328.90/month and you saved 4 months' worth in an emergency fund. You place half in a 45-day CD at a 4.5% APR and the remainder in a regular savings account at a 3.2% APR. How much total interest do you earn in 45 days? (1 point)
$
17. Your realized income is $2,415.64/month, and 54% are discretionary monies. If you want to save 3 months of fixed expenses for an emergency fund, how much must you save each month to fund it in 8 months? (1 point)
$ /month
18. Your fixed expenses are $1,045.32/month. What is your minimum realized income per month if your expenses are 36%? (1 point)
$ /month
19. You saved $10,943.89 in an emergency fund. One fourth is in a regular savings account at a 3.5% APR, and the remainder is in a 30-day CD at a 4.57% APR. What is the difference in the amount of interest earned in 30 days between the two savings instruments? (1 point)
$

Answer 2

Have you tried?

Answer 3

no @heyheyhelpme

Answer 4

well try

Answer 5

are you in connexus

Answer 6

cuz i am to

Answer 7

i am

Answer 8

1. checking accounts, savings accounts, and investment accounts
2. the United States government
3. Appreciate

Answer 9

hope i helped!!

Answer 10

what