Question: QUESTION 1 (25 MARKS) A) Differentiate between short-term, intermediate, and tong-term goals. Give examples B) Explain the essence and importance of each of the stages

QUESTION 1 (25 MARKS) A) Differentiate between short-term, intermediate, and tong-term goals. Give examples B) Explain the essence and importance of each of the stages in the financial life cycle. QUESTION 2 (10 MARKS) A) Describe an income statement and its functions. B) Explain the relationship between the debt ratio and insolvency? QUESTION 3 (25 MARKS) A) Explain three advantages of credit unions. Are there any disadvantages to them? B) Describe the advantages of online and mobile banking. QUESTION 4 (20 MARKS) A) Describe the four major parts of a typical loan contract. B) What are the advantages of a home quity line, and what, if any, are the disadvantages! 2 FIN 2483 QUESTION 5 (20 MARKS) A)How does start buying improve your standard of living? B) Rob Roy is toying with the idea of buying a used car every three years instead of leasing or buying a new one. Assuming he can find a one-owner with low miles in good condition, what advantages might be enjoy? C) Write a paragraph giving at least five important tips on buying a new car

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