Personal Finance and Insurance Assignment, APU, Malaysia Anthony and Hannah are a young married couple who got married nine years ago. Both of them are 32 years old and have three children
University | Asia Pacific University (APU) |
Subject | Personal Finance and Insurance |
Anthony and Hannah are a young married couple who got married nine years ago. Both of them are 32 years old and have three children, who are two, five, and seven years old. Ever since they were married, Hannah has been a homemaker taking care of the children. Anthony works as Finance Senior Executive earning RM5,500 per month. Hannah recently started doing business selling clothes that make around RM1,750 per month. They are currently working and residing in Kuala Lumpur, Malaysia.
Now that Hannah is also earning income, they hope to use her income to accumulate enough savings to buy a new car for Hannah, because her existing car is very old and constantly needs repairs. The old car is worth RM9,000 and can be traded in for a new car. Hannah would really like to purchase a new car within this and she has been saving RM500 per month until she has accumulated savings of RM6,000 in her saving account to use for a down payment in addition to the trade-in old car value.
She’s eyeing to purchase a Perodua Ativa for a price of RM62,500. The estimated auto loan for her desired car is RM684 per month for a 7-year loan tenure at a 3% interest rate. Meanwhile, Anthony owns a Toyota Vios which is valued at RM73,000 and he is still paying RM480 per month on an auto loan for another year.
They also dream to own a house. They plan to have about RM20,000 as a down payment within the next five years. They are undecided whether to save some amount every month or invest some money so that they will earn RM20,000 in five years. Anthony and Hannah are also concerned about their children’s college education in the future. They plan to set aside RM100 per child every month in the fixed deposit account for the next 10 years. However, these savings plans would depend on the monthly budget.
They realize that the first step toward achieving their financial goals is to create a budget capturing their monthly cash inflows and outflows. Anthony and Hannah’s combined disposable (after-tax and EPF contribution) income is now RM6,400 per month.
Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.
Get Help By Expert
At Assignmenthelper.my, we understand the importance of delivering high-quality, well-written essays on time. That's why our essay writing service is designed to help students succeed by providing them with the support and guidance they need to excel in their academic pursuits. So why wait? Contact us today and get the best assignment assistance at the best prices!
Recent Solved Questions
- TEE103: (a) Solve the voltage v0 in Figure 8 by using mesh analysis: Circuit Theory I Assignment, WOU, Malaysia
- UBFF2013: Write a review of the profitability ratio and market ratio (Year 2020-2021) of the FIVE (5) stocks: Business Finance Assignment, UTAR, Malaysia
- Management Accounting Techniques Assignment, UTIM, Malaysia Capital Investment becomes a crucial investment decision in an uncertain economic environment needs to be made
- Law of Equity Case Study, IIUM, Malaysia Consider a fictitious case involving Leo Pedersen and Calvin Pedersen. Beyond the facts of this case, there are two
- MPU3412 : Community Service Assignment, OUM, Malaysia Writing a Reflective Journal about the Community Work .
- IWK 201 ASSIGNMENT 1: RAW MATERIALS & COATING CHEMISTRY UNIVERSITI SAINS MALAYSIA
- Quantitative method for business Assignment, LU, Malaysia: The flagship state campuses are led by a Rector and smaller campuses are led by a Coordinator
- Constrained physiotherapy practice in rehabilitation setting: Professional Development Assignment, MU, Malaysia
- Human Sciences in Communication Essay, UCISS, Malaysia In today’s global social media platforms such as Facebook, TikTok, YouTube, Twitter, Instagram, WhatsApp, Weibo, WeChat, Wikipedia, web sites, and blogs
- Managerial Account Course Work, UPM, Malaysia Slow Stool Company Is debating the use of direct labor cost or direct labor hours as the cost allocation base