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Homework: Offer Is The Best For You and Why

This document outlines several homework assignments related to personal finance topics. It includes assignments on comparing credit cards and mutual funds, using a debt repayment calculator, and analyzing a financial case study in small groups. Students are asked to gather information from credit card applications, mutual fund prospectuses, and online tools to compare key features. They then summarize their findings in short papers and presentations, applying concepts from class to hypothetical financial scenarios. The goal is for students to gain experience evaluating financial products and analyzing personal finance situations.

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Joel Christian Mascariña
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81 views

Homework: Offer Is The Best For You and Why

This document outlines several homework assignments related to personal finance topics. It includes assignments on comparing credit cards and mutual funds, using a debt repayment calculator, and analyzing a financial case study in small groups. Students are asked to gather information from credit card applications, mutual fund prospectuses, and online tools to compare key features. They then summarize their findings in short papers and presentations, applying concepts from class to hypothetical financial scenarios. The goal is for students to gain experience evaluating financial products and analyzing personal finance situations.

Uploaded by

Joel Christian Mascariña
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Homework

Credit Card Comparison Assignment

 Find three different credit card applications (e.g., online, at

restaurants, etc.).

 Compare the three credit card offers by completing the

chart below to describe key features of each.

 Write a one-page (single space, double between

paragraphs) paper summarizing what you learned by

comparing the three credit cards and which credit card

offer is the best for you and why.

Card Card Card


Credit Card Feature
#1 #2 #3

APR (annual percentage rate): Is it fixed


or variable?

Penalty APR and trigger events when it is

charged

Annual fee

Late fee

Over-the-limit fee

Transaction fees (balance transfers, cash

advances, etc.)

Grace period

Method for computing account balance

Rewards for use

Other features
Financial Slide Rule Calculator Assignment #1: Credit Card

Smarts

Objective: Students will create a table from the personal finance

slide rule calculator, Credit CardSmarts, to fully appreciate the

effects of compound interest as an enemy (credit card interest

payments). The calculators are available from Dr. O’Neill at $2

apiece and are yours to keep.

Format: One-page paper (single spaced, double space between

paragraphs).

Content of Paper:

 Create a 5 (columns) x 6 (rows) table in Word using

information found in the Credit CardSmarts slide rule

calculator. Include the key variables in the calculator (Hint:

percentage of outstanding balance repaid, amount of


outstanding balance.) to develop your table. Use the first

row for column headings as shown below:

Heading Heading Heading Heading Heading

 Under the table, write a brief description of its “take home

message.” Describe the relationships between the numbers

in the table and what you learned from this activity. Include

information that you’ve read in The Ultimate Credit

Handbook or learned in class to illustrate your key points.

Financial Slide Rule Calculator Assignment #2: Why Save for

Retirement?
Objective: Students will create a table from the personal finance

slide rule calculator, Why Save for Retirement?, to fully

appreciate the effects of compound interest as a “friend”

(earnings on investment earnings). The calculators are available

from Dr. O’Neill at $2 apiece and are yours to keep.

Format: One-page paper (single spaced, double space between

paragraphs).

Content of Paper:

 Create a 5 (columns) x 6 (rows) table in Word using

information found in both sides of the Why Save for

Retirement? slide rule calculator. Include the key variables

in the calculator (Hint: age, weekly investment, account

size, dollar cost of a year’s delay) to develop your table.

Use the first row for column headings as shown below:


Heading Heading Heading Heading Heading

 Under the table, write a brief description of its "take home

message." Describe the relationships between the numbers

in the table and what you learned from this activity. Include

information that you've read in assigned readings or learned

in class to illustrate your key points

Mutual Fund Comparison Assignment

1. Find three different mutual fund prospectuses for the same

type of fund (e.g., growth, index, global).


2. Compare the three mutual funds by completing the chart

below to describe key features of each.

3. Write a one-page (single space, double between

paragraphs) paper summarizing what you learned by

comparing the mutual funds and which mutual fund is the

best for you and why.

Name of Fund A. B. C.

Type of Fund (e.g.,

income)

Your Investment

Objective(s)

Fund's Investment

Objective(s)

Total Return
Performance over 1

year

Performance over 3

years

Performance over 5

years

Performance over

10 years

Minimum Initial

Investment

Minimum

Subsequent

Investment

Fees
Commission/Sales

Charge

Redemption Fee

Management Fees

12 b-1 Fee

Expense Ratio

Years of Manager in

Position

Portfolio Turnover

Rate

Investment Policies

and Risks (e.g.

market, business,

financial, and
currency risk)

Unusual

Problems/Risks?

(e.g., legal, ethical,

management)

Is Fund Within Your

Investment Risk

Comfort Zone?

Services provided

by fund

Telephone (800#)

PowerPay Debt Reduction Analysis Assignment


1. Use the worksheet below to make up a "case study

household" with between seven (7) and ten (10) creditors.

List the creditor name, balance owed, monthly payment

(note: it must be at least 2% of the balance owed) and the

APR (interest rate) for each debt. Make up realistic

numbers.

Example: J.C. Penney, $1,020, $30, 22%

Balance Monthly Annual


Creditor
Owing Payment % Rate
2. Go to the PowerPay Web site at www.powerpay.org . Click

on "Flash Version" (if you have Flash installed on your

computer) or "HTML Version."

3. Click on "Add a Creditor" and add the information from

your worksheet above.

4. Print out your list of creditors.

5. When finished adding all the creditors, click on "enter

additional payments" and create a scenario (e.g., use of a

tax refund to repay debt).

6. Click "Submit."

7. Review the cost savings from using PowerPay's three

different options (highest interest, lowest balance, shortest

payoff term) and print out the time and interest savings

page.
8. Click on "Click for Details" on the method with the greatest

cost savings.

9. Print out the debt repayment calendar for that repayment

method.

10. Review your printouts and write a one-page summary

about your scenario and what you learned about debt and

credit card interest from completing the assignment.

Small Group Project: Financial Case Study Analysis

The purpose of this assignment is to provide a "hands on"

experience to synthesize the personal finance concepts that you

have learned throughout the semester by applying them to a

"real life" individual or family. You'll also have an opportunity

to work with fellow class members and "pick each other's


brains" as you research your case and present the results of your

analysis in both a paper and 15-minute class presentation.

Here's what you need to do:

1. Form a group of 4 or 5 by October 1. Notify the instructor

of your group members by October 1.

2. Select a financial case from among the 20 case studies

available on the class Web site. A variety of ages,

situations, and financial challenges have been provided.

Feel free to add additional assumptions to the case as long

as they are realistic for the situation and described in your

report.

3. Review the Financial Case Study Scoring Sheet to learn the

criteria for grading this assignment.


4. Prepare a written team report of 3 to 4 pages (single-

spaced, double between paragraphs) about the case study

and the team's analysis and recommendations.

5. Deliver a 15-minute team group presentation about the case

and the team's recommendations.

Your financial case analysis should include the following items,

as appropriate:

 A discussion of the strengths and weaknesses of the

individual or family's financial situation

 Correction of any misinformation that the individual or

family has about financial topics

 Comments about the individual or family's cash flow


 Comments about emotional issues related to the individual

or family's financial situation

 Calculations of the savings required to reach financial goals

 3 to 5 recommended action steps to improve the individual

or family's financial situation

 Recommended financial products such as bank accounts,

insurance policies, and mutual funds

 Available resources that can assist the individual or family

to improve their finances

 Any other information that you feel is useful and germane

to the case

 References for source materials used to analyze the case

(feel free to use your textbooks, class notes, Web sites,


financial publications, and other resources to assist in your

analysis).

Financial Case Studies

1. Mary and Harry Reser

2. Roy Bemmer

3. Jean Kitching

4. Hope Forma

5. Dan and Sue Koogler

6. Peggy Janis

7. Greg and Cindy Hana

8. Jennifer Barry

9. Dale and Sally Gab


10. Sandra Hayhoe

11. Sue and Dan Shimo

12. Bob and Pina Ing

13. Joe and Pat Ise

14. Peggy Brie

15. John Berka

16. Frank and Mary Neiser

17. Bruce and Faith Johnston

18. Paul Turvey

19. Gary and Barbara Zabeck

20. Michelle Foxe

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