Personal financial management ? PART;A answer each of the following questions in one or two paragraphs. Each answer is worth 20 points.1.describe the major components of a personal financial plan.2.why are there different types of bankruptcy? 3.discuss the advantages of investing through a mutual fund. PART.B answer each of the following questions in three to five sentences. Each answer is worth 4 points.1.why do you need to change your personal financial as goals your circumstance changes?2.why is the income statement an important financial statement?3.which of the financial institutions offers noninterest paying checking accounts (demand deposits)?4.how would you perform a rent-or-buy analysis for a home5.discuss the disadvantages of using credit cards.6.how do you determine how much life insurance you need?7.discuss some of the additional benefits that insurance has to offer.8.why do insurance companies offer accident insurance,and who would purchase such insurance?9.what is the difference between open-end and closed-end mutual funds?10.discuss the different investment vehicles avaibles to consumers.
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