Answer each question below by typing in complete sentences and listing the corresponding number on your paper to each question. Note that there are two parts to this assignment. Each question is worth the points listed, and your answers will be graded on how completely all questions were answered. TOTAL $25$ POINTS PROOFREAD BEFORE SUBMITTING Part $1$: For questions $1-5,$ use the information found in the Financial Literacy $(16$ minute$)$ outside videoLinks to an external site. Links to an external site. that we watched in class. Explain in detail the $50-30-20$ Rule. $(1$ point$)$ Explain in detail what is meant by "live behind instead of living forward" when it comes to your finances according to the video. $(1$ point$)$ What is the best way to invest in the stock market with a small amount? Why? $(3$ points$)$ What is the best way to take advantage of compound interest and the time value of money? $(1$ point$)$ Explain the difference between buying something with credit that is an asset vs$.$ consuming something with credit. $(1$ point$)$ For questions $6-8,$ use the information in the online textbook in section $10-$ Credit Cards. What should you do each month with your credit card bill to make sure you are paying down the bill? $(1$ point$)$ Explain what your credit report is$.$ How can you access it$?(2$ points$)$ Explain what a FICO Credit Score is$?$ What is the score range for an excellent credit risk? What $4$ things is the score based on$?(5$ points$)$