Holly deposited $7,000 in a CD and will get charged penalties if she makes withdrawals within five years. However, she will need this money to pay for college tuition next year. What saving and investing principle should Holly have followed?
Understand your risk tolerance.
Diversify.
Keep investments simple.
Consider how long you plan to keep your money in the investment.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Holly deposited $7,000 in a CD and will get charged penalties if she makes withdrawals within five years. However, she will need this money ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
At its $34 selling price, Atlantic Company has sales of $17,000, variable manufacturing costs of $6,000, fixed manufacturing costs of $1,000, variable selling and administrative costs of $2,000 and fixed selling and administrative costs of $1,000.
Answers (2)
Nichols Inc. is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IRR can be less than the cost of capital or negative, in both cases it will be rejected.
Answers (1)
In a perfectly competitive market, firms face no barriers to entry or exit. a. True b. False
Answers (2)
Why do people tend to eat more at all-you-can-eat buffet restaurants than at restaurants where each item is purchased separately? a.
Answers (1)
Some people say that investing their hard-earned money in the stock market is like a form of gambling, and that it is no safer than playing blackjack in Las Vegas. Is this true? Why or why not? Support your answer with at least three facts.
Answers (1)
New Questions in Business
Lakisha is a professor of economics. She is currently earning $100,000 a year as a professor. She decides to quit her job as a professor and opens a consulting firm. In order to do this, she cashes out her retirement fund of $200,000.
Answers (1)
true or false Activity cost pools are factory overhead costs initially budgeted for activities, such as machine usage, inspections, moving, production setups, and engineering activities.
Answers (1)
Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop-down menus to enter the accounts.
Answers (1)
A company is considering purchasing a machine for $21,000. The machine will generate an after-tax net income of $2,000 per year. Annual depreciation expense would be $1,500. What is the payback period for the new machine? a. 4 years. b. 6 years. c.
Answers (1)
A company purchased a delivery van for $15,500 with a salvage value of $2,300 on September 1, Year 1. It has an estimated useful life of 4 years.
Answers (1)