Personal Finance Problem P1-3 Cash flows It is typical for Jane to plan, monitor, and assess her financial position using cash flows over a given period, typically a month. Jane has a savings account, and her bank loans money at 6% per year while it offers short-term investment rates of 5%. Jane's cash flows during August were as follows: 38 PART ONE Introduction to Managerial Finance Cash inflow Cash outflow $1,000 $ 450 --500 -800 Item Clothes Interest received Dining out Groceries Salary Auto payment Utilities Mortgage Gas 4,500 --355 -280 -1,200 -222 Personal Finance Problem P1-3 Cash flows It is typical for Jane to plan, monitor, and assess her financial position using cash flows over a given period, typically a month. Jane has a savings account, and her bank loans money at 6% per year while it offers short-term investment rates of 5%. Jane's cash flows during August were as follows: 38 PART ONE Introduction to Managerial Finance Cash inflow Cash outflow -$1,000 $450 --500 -800 Item Clothes Interest received Dining out Groceries Salary Auto payment Utilities Mortgage Gas 4,500 -355 -280 - 1,200 -222 a. Determine Jane's total cash inflows and cash outflows. b. Determine the net cash flow for the month of August. c. If there is a shortage, what are a few options open to Jane? d. If there is a surplus, what would be a prudent strategy for her to follow