Anthony and Hannah are a young married couple who got married nine years ago. Both of them are 32 years old and have three children: Personal Finance and Insurance Assignment, APU, Malaysia
|University||Asia Pacific University (APU)|
|Subject||Personal Finance and Insurance|
Anthony and Hannah are a young married couple who got married nine years ago. Both of them are 32 years old and have three children, who are two, five, and seven years old. Ever since they were married, Hannah has been a homemaker taking care of the children. Anthony works as Finance Senior Executive earning RM5,500 per month. Hannah recently started doing business selling clothes that make around RM1,750 per month. They are currently working and residing in Kuala Lumpur, Malaysia.
Now that Hannah is also earning income, they hope to use her income to accumulate enough savings to buy a new car for Hannah, because her existing car is very old and constantly needs repairs. The old car is worth RM9,000 and can be traded in for a new car. Hannah would really like to purchase a new car within this and she has been saving RM500 per month until she has accumulated savings of RM6,000 in her saving account to use for a down payment in addition to the trade-in old car value.
She’s eyeing to purchase a Perodua Ativa for a price of RM62,500. The estimated auto loan for her desired car is RM684 per month for a 7-year loan tenure at a 3% interest rate. Meanwhile, Anthony owns a Toyota Vios which is valued at RM73,000 and he is still paying RM480 per month on an auto loan for another year.
They also dream to own a house. They plan to have about RM20,000 as a down payment within the next five years. They are undecided whether to save some amount every month or invest some money so that they will earn RM20,000 in five years. Anthony and Hannah are also concerned about their children’s college education in the future. They plan to set aside RM100 per child every month in the fixed deposit account for the next 10 years. However, these savings plans would depend on the monthly budget.
They realize that the first step toward achieving their financial goals is to create a budget capturing their monthly cash inflows and outflows. Anthony and Hannah’s combined disposable (after-tax and EPF contribution) income is now RM6,400 per month.
Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.
Get Help By Expert
For those looking for essay writing help online in Malaysia, look no further! With Malaysia Assignment Help, you can get customized essay solutions to fit every need. Our professional assignment writers provide assistance for writing University-level essays with the guarantee of unbeatable quality and timely delivery. So don’t wait any longer, let us help you write your essay today!
Recent Solved Questions
- BFF5915: The Black-Scholes-Merton option pricing model assumes a risk-free rate as the expected rate of return on the asset: OPTIONS, FUTURES AND RISK MANAGEMENT Assignment, MUM, Malaysia
- KT24403: There are N philosophers and N forks, the philosophers represent processes and forks represent resources: Operating Systems Assignment, UMS, Malaysia
- BBUI3103 EMPLOYMENT AND INDUSTRIAL LAW – University of Malaysia
- UGB161: Knowledge and understanding of different areas of marketing, the relationships between them, and their application to international business organizations: Introduction to Marketing Assignment, UOS, Malaysia
- BMR3174: Identify the key elements of Supply Chain Management And Propose the best alternatives: Supply Chain Management Assignment, MUST, Malaysia
- “Every line manager is also an HR manager”. Clearly explain the meaning of this statement in the context of the changing role of the HR function: Human Resource Management Assignment, SU, Malaysia
- Having seen arguments concerning the various morally controversial issues, and the applications of the different ethical theories to them: Business Ethics Essay, CU, Malaysia
- UBAF3023: Sustainability reporting is a report that is published by organizations to give details about the impact a company is having on the environmental: Corporate Reporting and Current Issues, Report, UTAR, Malaysia
- Identify any process related to the selected Human Resource Management function with good explanation and example: Human Resource Management Assignment, OUM, Malaysia
- Choose one addictive behaviour, assess how COVID-19 might have affected it, and also appraise how COVID-19 might affect future policy and practice in relation to that addictive behaviour: Policy Essay, USM, Malaysia