Name three classifications of assets. Briefly define and give examples of each.
Answer to relevant QuestionsWhat are bonds? What are stocks? What are mutual funds? Describe how each of these provides a return on your investment. Describe how wealth is built over time. How do your personal cash flow statement and your personal balance sheet assist in this process? Ryan and Nicole (from problem 9) have the following liabilities: Mortgage......... $ 43,500 Car loan......... 2,750 Credit card balance....... 165 Student loans......... 15,000 Furniture loan (6 months) .... ...Using the information in the case, prepare a personal cash flow statement for the Sampsons. Personal Cash Flow Statement Cash Outflows Include categories for cash outflows as follows: Amy and Vince want to save $ 7,000 so that they can take a trip to Europe in four years. How much must they save each month to have the money they need if they can get 8% on their savings?
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