Business, 14.12.2020 19:20 alanisalvarez2000
You have $2,000 and want to invest in two savings goals: a short-term goal (less than one year) of saving for textbooks during your first year of community college, and a longer-term goal (over 1 year) of saving for a car when you graduate from college. Use the information in the chart below to explain how much you would choose to save for each goal, where you would save it, and why. When explaining your choices, be sure to consider the liquidity of each investment, the potential for interest earned, and any potential fees or penalties.
Savings Account
0.09% APY
No minimum deposit
MMA
1.05% APY
$500 minimum deposit
24-Month CD
2.9% APY
$250 minimum deposit
US Savings Bonds (Series EE)
0.1%
$25 minimum purchase
$15 fees for
any withdrawals in
excess of 6 per month
$15 fees for
any withdrawals in
excess of 6 per month
Penalty for early
withdrawal is 3 months
of interest or $25,
whichever is greater
Cannot redeem during
first 12 months;
before five years,
loss of 3 months of interest
Answers: 3
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Answers: 1
Business, 22.06.2019 20:10
Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.
Answers: 1
You have $2,000 and want to invest in two savings goals: a short-term goal (less than one year) of s...
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