Abby is 25 years old and has been working after graduating from university. She earns an annual net salary of $50,000 (after tax and ACC levies). She has not joined the KiwiSaver scheme; if she does (with minimum of 3% contribution) her after-tax annual net salary will be $48,500. She is hoping to buy a house in the next 5 years. She has passed you the records of income, expenses and some other information (all expressed on an annual basis). Items Amount ($) Car loan balance 12,000 Car loan payment 3,600 Car value 18,000 Car-related: licence, petrol, and repair 4,500 Cash 1,000 Entertainment and dine-out 7,800 Furniture 14,000 Groceries 4,500 Household-related: electricity, internet, and telephone 3,500 Non-interest paying cheque account 2,000 Rent 25,000 Salaries 50,000 Please note that the above information has been repeated from the previous page. Question 41 Not yet answeredMarked out of 2.00Not flaggedFlag question Question text Typically, there are three types of things an individual can borrow for. Based on Abbys case, identify ONE item from the table above as the example of borrowing for consumption. If nothing fits, write NA with a brief explanation. [2 marks] Question 42 Not yet answeredMarked out of 4.00Not flaggedFlag question Question text Abby is thinking to apply for a credit card. She has heard of 3Cs used by banks to assess the applicants. Based on Abbys case, identify ALL items from the table above that can be used to assess the character. [4 marks] Question 43 Not yet answeredMarked out of 2.00Not flaggedFlag question Question text Based on Abbys case and information provided in the table above, give ONE suggestion which can improve her risk management at the present. [2 marks] Question 44 Not yet answeredMarked out of 5.00Not flaggedFlag question Question text Based on Abbys case and information provided in the table above, what advice would you give to Abby about retirement planning?