Considerations Surrounding Major Financial Assets

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Submitted By kaytlinlandon
Words 315
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Title Considerations Surrounding Major Financial Assets

Assessment A: Researching Interest Rates
Summarize the information on interest rates.
There are many types of interest rate agreements, all with their own pros and cons. What may work for you may depend on yourselves circumstances. A fixed rate is a loan or mortgage with an interest rate that will remains adjusted for the entire term of the loan. A variable rate or also known as an adjustable rate is a loan with the interest rate on the note periodically adjusted based on an index, which shows the cost to the lender on the credit market. The loan may be offered at the lenders standard variable rate.

Assessment B: Decision Making Process
Identify the steps in the decision making process for major purchases.
Step 1a: What do I need? Keep car?
Step 1b: What do I need? Replace car?
Step 2: What can I afford?
Step 3a: New car?
Step 3b: Used car?
Step 4: Find an honest salesperson
Step 5: Compare based on attributes, price
Step 6: Decide how to finance loan
Step 7: Negotiate terms of contract

Assessment C: Considerations Surrounding Major Financial Assets
Summarize the 6 main steps in buying a house.
The first step in buying a home is making sure you’re financially stable; make sure there are no discrepancies in your credit report!

Second step in buying a home is to find a licenced real estate agent to help avoid common mistakes

Third step to buying a home your agent will suggest a home and negotiate the price!

Fourth step to purchasing a home is to hire a home inspector! Determine if there is any faults in the structure!

Fifth step into buying a home is to set up financing options!

Sixth step is to set up a closing date for you and the seller! You will need insurance before the date…...

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