Okanogan School District / Overview



UNIT 7 QUESTIONS What is the main purpose for establishing and saving to an emergency fund?Answer:Let’s say you have a monthly net income of $2,500 and your monthly expenses are $1,450. What should be the minimum amount of your emergency fund? Please show your math/rationale.Answer:Please draw a typical investment risk pyramid and label each of the levels. Now, explain the purpose of this tool (i.e. how can it help you reach your investment goals)?Answer:What does a financial planner do for you (i.e. list his/her duties)?Answer:What are some differences between tax-exempt and tax-deferred retirement accounts. Also, list an example of each.Answer:What is a capital gain? What is a capital loss? How could this impact your future (give me a scenario)?Answer:Elliott is going to receive a capital gain on a home he just sold. In 2009, he paid $150,000 for this home; and, he is selling it today for $475,000. Assuming the capital gains rate is 33 percent, how much will Elliott have to pay in capital gains taxes (show your math)?Answer: ................
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