ASSIGNMENT 04
C07J Personal Finance
Directions: Be
sure to save an electronic copy of your answer before submitting it to Ashworth
College for grading. Unless otherwise stated, answer in complete sentences, and
be sure to use correct English, spelling and grammar. Sources must be cited in
APA format. Your response should be four (4) double-spaced pages; refer to the
“Assignment Format” page located on the Course Home page for specific
format requirements.
Part
A: 1. Allison expects her monthly cash inflow after taxes to be $3000.
She also has the following monthly expenses: Rent, $750; student loan payment,
$200; utilities, $150; food, $300; recreation, $600; car expenses, $200;
clothing, $150. What is Allison’s net
cash flow for the current month?
2. Judy has cash inflows of $3,000 for the month of June. Her
expenses or cash outflows were $4,000. List two (2) options for Judy to meet
her financial obligations in June and indicate the effect (increase or
decrease) of these options on her assets and liabilities.
Part
B: Describe how credit cards affect
the following.
1. Your personal budget
2. Your income statement
3. Your balance sheet
Part
C: Describe at least two (2)
advantages and two (2) disadvantages of selling your home yourself instead of
hiring a realtor.
Grading Rubric
Please refer to the rubric on the following page for
the grading criteria for this assignment.
CATEGORY
Exemplary
Satisfactory
Unsatisfactory
Unacceptable
Part
A: Net cash flow (10 points)
10
points
0
points
N/A
N/A
Student
provides the correct net cash flow.
Student
provides the incorrect net cash flow.
N/A
N/A
Part
A: Options & effect (15 points)
15
points
12
points
8
points
5
points
Student
provides 2 clear, logical options for Judy to meet her financial obligations,
along with the effect of these options on her assets and liabilities.
Student
provides 1-2 mostly clear, logical options for Judy to meet her financial
obligations, along with the effect of these options on her assets and
liabilities.
Student
provides 1-2 weak or unclear options for Judy to meet her financial
obligations, along with the effect of 1-2 of these options on her assets and
liabilities.
Student
provides 1 poor options for Judy to meet her financial obligations, along
with the effect of 0-1 of these options on her assets and liabilities.
Part
B: Credit cards (20 points)
20
points
15
points
10
points
5
points
Student
provides a clear, logical description of how credit cards affect each of the
following: your personal budget, your income statement, your balance sheet.
Student
provides a mostly clear, logical description of how credit cards affect 2-3
of the following: your personal budget, your income statement, your balance
sheet.
Student
provides a weak or unclear description of how credit cards affect 1-2 of the
following: your personal budget, your income statement, your balance sheet.
Student
provides a poor description of how credit cards affect 1 of the following:
your personal budget, your income statement, your balance sheet.
Part
C: Selling your home – advantages (15 points)
15
points
12
points
8
points
5
points
Student
provides at least 2 clear, logical advantages of selling your home yourself
instead of hiring a realtor.
Student
provides 1-2 mostly clear, logical advantages of selling your home yourself
instead of hiring a realtor.
Student
provides 1-2 weak or unclear advantages of selling your home yourself instead
of hiring a realtor.
Student
provides 1 poor advantage of selling your home yourself instead of hiring a
realtor.
Part
C: Selling your home – disadvantages (15 points)
15
points
12
points
8
points
5
points
Student
provides at least 2 clear, logical disadvantages of selling your home
yourself instead of hiring a realtor.
Student
provides 1-2 mostly clear, logical disadvantages of selling your home
yourself instead of hiring a realtor.
Student
provides 1-2 weak or unclear disadvantages of selling your home yourself
instead of hiring a realtor.
Student
provides 1 poor disadvantage of selling your home yourself instead of hiring
a realtor.
Mechanics
(15 Points)
15
points
12
points
8
points
5
points
Student
makes no errors in grammar or spelling that distract the reader from the
content.
Student
makes 1-2 errors in grammar or spelling that distract the reader from the
content.
Student
makes 3-4 errors in grammar or spelling that distract the reader from the
content.
Student
makes more than 4 errors in grammar or spelling that distract the reader from
the content.
Format (10 Points)
10
points
8
points
5
points
2
points
The
paper is written in proper format. All sources used for quotes and facts are
credible and cited correctly.
The
paper is written in proper format with only 1-2 errors. All sources used for
quotes and facts are credible and most are cited correctly.
The
paper is written in proper format with only 3-5 errors. Most sources used for
quotes and facts are credible and cited correctly.
The
paper is not written in proper format. Many sources used for quotes and facts
are less than credible (suspect) and/or are not cited correctly.
