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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Unit 1 Practice Milestone 1

Unit 1 Practice Milestone 1

Q 1. Maria is entering data into a spreadsheet and notices that some cells display a line of # symbols instead of numbers. Maria can use her technology skill to make the corrections. What should Maria do to fix this? 2. Pat obtains a housing loan of $80,000 at an annual rate of interest of 8%. She is required to repay the amount in 144 installments spread across 12 years. Which of the following will help Pat calculate the monthly cost of the loan? 3. Jonathan earns around $700,000 annually. He invests a part of his earnings every month in a long-term investment plan. He plans to continue investing the money for another 10 years before beginning to use it. Is this an effective financial investment made by Jonathan? Why or why not? 4. Ron is saving money for an international vacation. Which of the following actions will help Ron achieve his financial goal? 5. Alexander is required to choose between two investment choices. In choice A, he receives $10,000 today, which he can invest for 3 years at 4% interest. In choice B, he receives $10,000 at the end of 3 years. Which choice should Alexander pick and why?

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1. Increase the width of the columns. 2. Future value of lump sum 3. It is productive because long-term investments often generate long-term rewards. 4. He should evaluate his income and daily expenses using a third-party software program like Microsoft Excel. 5. He should pick choice A because, at the end of 3 years, he will receive a total of $11,248.64, which is $1,248.64 more than the amount obtained in choice B.