Fin 101 exam 1 - Study guides, Class notes & Summaries

Ball State FIN 101 Exam 1 (Olga); Questions and Answers 100% Correct Chapters 9 & 10 Correct answerFAFSA Correct answer--Free Application for Federal Student Aid -Main federal form used to qualify for financial aid -Best way to start applications for college financial aid

Ball State FIN 101 Exam 1 (Olga); Questions and Answers 100% Correct Personal Finance planning Correct answer-The process of organizing and planning your income, expenses and savings to accomplish significant long-term goals Importance of Investing Early Correct answer-Earlier you start and the higher earning interest will accumulate the most money! Time Value of Money (TVM) Correct answer-addresses the concept that a dollar today is better than a dollar tomorrow due to inflatio

A charge for writing a check when there was not enough money to cover it is called - Overdraft charge A college graduate will - Earn three times more than a high school graduate over a lifetime A dollar tomorrow is worth - less A line of credit is - The maximum dollar amount of credit the lender has made available. An example of a fixed expense is - a mortage An example of a variable expense is a(n) - an electric bill APR is - Annual Percentage Rate Assets - Physical items and financial ...

3 credit bureaus - experian equifax trans union A line of credit - the max dollar amount of credit the lender has made available Annual Interest - The amount of interest to be paid each year. APR - Annual percentage rate; the annual rate of interest that is charged for using credit APY - Annual Percentage Yield describes interest paid to a saving account or certificate Assets vs. Liabilities - What you own vs what you owe Bank accounts - checking, savings, and interest-bearing accounts ...

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1. The process of managing a firm's long-term investments is called: A. capital budgeting. B. working capital management. C. credit management. D. cost accounting. E. capital structure management. - Answers-A Short-term assets and short-term liabilities are referred to as the firm's: A. cash flow. B. capital budget. C. capital structure. D. working capital. E. financing mix. - Answers-D A sole proprietorship is defined as a business: A. that is five or less years old. B...

The first step of the financial planning process is to Make an honest assessment of where you are now financially and emotionally and to commit to a disciplined plan A college graduate will Earn three times more than a high school graduate over a lifetime Retirement is The single most important financial goal and the most expensive long-term goal you have to set Debt-to-income ratio is How much consumer debt you are carrying relative to your income total debt/total an...