MCS 2100 Chapter Notes - Chapter 1: Money Market Account, Savings Account, Financial Institution

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 2100
• Professor: Ken Mark

Document Summary

Although many factors will influence the available alternatives, possible courses of action usually fall into these categories: continue the same course of action. For example, you may determine that the amount you saved each month is still appropriate: expand the current situation. You may choose to save a larger amount each month: change the current situation. You may decide to use a money market account instead of a regular savings account: take a new course of action. Changing interest rates affect your costs when you borrow, and your benefits when you invest. Premature death may cause financial hardship to family members left behind. Some investments may be more difficult to convert to cash or to sell without significant loss in value. Your income could stop as a result of job loss or because you fall ill or are hurt in an accident. At the same time, it may reduce your working capacity or life expectancy.