To determine: The task performed, skills needed, pay, and opportunity outlook in the career.
Introduction: Various advices on making investment decision, insurance, mortgages, savings, estate planning, taxes, and retirement for helping out the people in managing finances is given by a personal financial planner.
Answer to Problem 1CE
Explanation of Solution
- Providing personal advice for taking financial decisions.
- Helping people in managing the finance efficiently.
- Encouraging and advising college students in savings.
- Providing advice related to taxes.
There are various skills that are required for becoming a personal financial advisor like having a bachelor’s degree along with master’s degree and certification which can increases one’s chances for advancement in the occupation.
The wage rate of a content-writer is as follows:
- Hourly wage rate- $43.58.
- Annual wage rate- $90,640.
The opportunity outlook in the employment of a content writer is projected to grow to 15% from the year 2016 to 2026, due to the expected increase in population and rise in life expectancies which make it much faster than the usual opportunity growth.
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Chapter D Solutions
Understanding Business
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- What is debt financing? Identify ONE advantage and ONE disadvantage of debt financing?arrow_forwardWhat is the cheapest source of funds? When all other sources turn down your request for funding, what source is most likely to say yes? Why is this the case? Is the entrepreneur exploiting a personal relationship with this potential source of capital? What are the consequences of using this source of capital if the business goes bankrupt?arrow_forwarddiscuss the advantages and disadvantages of debt financing and common stock financing. Then, for your initial post, discuss the following: From the company’s viewpoint, why would it prefer to fund the venture initially with common stock instead of debt?arrow_forward
- Discuss the Social Security System. Discuss when it began and the early rates. Discuss how the system designates the money for those paying the FICA tax. Discuss how inflation and other factors have affected the FICA tax rates. Discuss how you feel Social Security will help or hurt you.arrow_forwardWhat are the various methods of financial statement analysis and how are they used by investors, creditors, and other stakeholders?arrow_forwardExplain how might the constant scrutiny and demand for consistent performance impact a mutual fund's long-term performance?arrow_forward
- Discuss a money management challenge in a business setting and how you would overcome it.arrow_forward1. How does interest rate affect the transfer of funds from the lender to the borrower?2. How do taxes affect a business firm?arrow_forwardIn comparison to investing and financing activities, it is often said that cash from operating activities must be the main source of cash to achieve long term success of the company. Do you agree or disagree with this statement? In your own words, give reason or reasons to support your answer taking into consideration the possible consequences of the cash being provided by any of the other two activities over the long run.arrow_forward
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