Case Study: Carol Jones (FIN420 WEEK2)
Please answer; see attached:
University of Phoenix Material
Case Study: Carol Jones
Carol works as a business representative for an import/export company. Her job provides her with the opportunity to travel and experience new things. Because she travels so much, Carol feels that she does not have a handle on her finances. She has decided to pay a visit to a financial advisor for help.
|
Carol’s Salary |
$2,000 |
Auto Payment |
$262 |
|||
|
Home |
$100,000 |
Mastercard |
$5,000 |
Int 15% |
||
|
Gas/Heating |
$100 |
Visa Card |
$3,000 |
Int 15% |
||
|
Electric |
$125 |
Bloomingdale Card |
$1,500 |
Int 29% |
||
|
Water |
$60 |
Personal Loan |
$5,000 |
Int 5%, 60 mths |
||
|
Internet/Cable |
$150 |
Mortgage |
$95,000 |
|||
|
Phone |
$50 |
Mortgage Payment |
$796 |
|||
|
Cell Phone |
$200 |
Car |
$20,000 |
|||
|
Food |
$250 |
Gym Membership |
$20 |
|||
|
Mortgage Payment |
$796 |
Personal Loan Payment |
$94 |
|||
|
Car Insurance |
$165 |
Carol’s 401K |
$50,000 |
|||
|
Savings |
$500 |
Auto Loan |
$15,000 |
|||
|
Checking |
$1,000 |
Visa Payment |
$60 |
|||
|
Lawn Service |
$100 |
Bloomingdale Payment |
$30 |
|||
|
Mastercard |
$100 |
|||||
Write a 700- to 1,050-word paper that addresses the following items from the case study:
- Apply financial planning concepts to advise Carol and explain how Carol can benefit from financial planning. Describe the benefits of using financial statements in financial planning.
- Utilize and explain strategies that Carol can use to increase her net worth. How does this affect her cash flow?
- Describe the sources available for asset management.
- Compile a list oflegal protections that can be used to protect Carol’s assets.
- Using the information provided for Carol create a balance sheet and cash flow statement. Estimate Carol’s overall net worth.
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