急! 理財Finance題目

Question 1
Identify one of your own personal short-term (within the next year) and intermediate (2-5 years) financial goals respectively and describe how you would achieve them with reference to the financial planning process. Whilst the goals should be specific, measurable, attainable, realistic and time-framed (SMART), the action plans should be concrete. You may make any reasonable assumptions and estimates in your analysis.

The assessment will be based on the following attributes:
(a)Contents on financial goals and action plan (50%)
(b)Application of financial planning process* (30%)
(c)Organization and clarity (20%)

(50 marks)
*Financial planning process is:
Step 1 Develop financial goals
Step 2 Determine current financial situation
Step 3 Identify alternative courses of action
Step 4 Evaluate alternatives
Step 5 Create and implement action plan
Step 6 Review and revise the financial plan


Question 2

Betty, a fresh graduate, has just been employed as the management trainee of an information and technology company. Her monthly salary is approximately $15,000. Recently she faces financial difficulty caused by overspending. She has an outstanding balance of $250,000 with her credit card and wishes to obtain a personal loan of the same amount to repay the outstanding balance. She has got the following promotional leaflets from two financial institutions respectively:

ABC Bank
Loan Type:Add-on Loan
Flat Interest Rate:7.2% p.a.
Loan Tenor:36 months

XYZ Finance Limited
Loan Type:Discount Loan
Flat Interest Rate:6% p.a.
Surcharge:4%
Loan Tenor:30 months

(a)Describe and explain three possible adverse consequences of overspending.
(b)Suggest two strategies to avoid overspending.
(c)Compare the respective monthly payment, total payment, monthly interest rate, annualized percentage rates (APR), etc. under the two loan plans if Betty borrows $250,000 from ABC Bank or XYZ Finance Limite(Hints: using the APR)