Financial Portfolio 2 & 3 - Three S.M.A.R.T. financial goals

FINANCIAL PORTFOLIO 2 & 3

THIS IS TWO DIFFERENT ASSIGNMENTS

For this assignment, create and submit the following two items and write a 150-250-word summary discussing the items. 

· Three S.M.A.R.T. financial goals, (one each) for short, intermediate, and long-term goal financial goals. Make sure that your goals meet the S.M.A.R.T. guidelines.

· Using your intermediate or long-term goal and the time value of money (TVM) equation, calculate how your money will grow based on two different time horizons or interest rates.  For full credit you must use the appropriate time value of money calculations. They are provided in the textbook.

Calculator soup website then when get to website to time value of money

Respond to the following questions after completing the two items above:

1. How does the length of time affect the growth of the account?

2. What steps do you need to take to determine how much to set aside today for a goal in the future to meet your own personal financial goals?

3. How does inflation affect the growth of money over time?

The purpose of this assignment is to determine how different credit scores will impact a purchase. Try a website such as bankrate.com or other similar websites to view interest rates. Write a 150-250-word summary discussing the following items:

1. How can you determine and track your credit score? Describe why it is important to maintain good credit.

2. What is the interest rate for a vehicle loan if you have a 600-level credit score? What is the interest for a 750-level credit score?

3. What is the total price of a $25,000.00 automobile over the life of the loan, financed for 5 years, based on the two different interest rates you found? Assume that you have no trade-in or money for a down payment.

4. How is an auto loan different from a credit card purchase?