FIN 210 Study Guide - Quiz Guide: Financial Statement, Financial Ratio, Opportunity Cost
Document Summary
The way to maximize happiness is to balance out the differences in income between these time periods and consuming about the same amount of goods each year of your life. Proper steps to healthy financial management: set smart financial goals, gather your financial information (account statements, analyze the information, develop a plan of action to meet your goals, monitor the plan frequently. Tvm: be able to calculate any of the tvm variables. Pv = present value: n = number of periods. I/y or i = interest rate/rate of return. Progressive tax regime the more you earn, the more you pay. Important to know how to calculate liability so you don"t pay more than you should: be able to calculate an income tax liability, marginal tax rate x income. Liabilities (for every dollar of debt, you have x dollars of assets; greater than or equal to one indicates solvency)
