For this assignment, you
will take on the role of a personal financial advisor and create a personal
financial portfolio.
Step 1: Using the large
National Bank, the Regional/Local Bank, and the Credit Union you identified in
the Module 1 Assignment 2, compare and contrast each institution by completing
theModule 3
Assignment 2 template.
Step 2: Once you have
completed the Module 3 Assignment 2 template, create a financial
portfolio. This financial portfolio is a professional one. Please follow the
following instructions when preparing it:
·
Identify, describe, and
explain the financial institution that would be the best fit for you. Be sure
to justify your selection by referencing the information collected in your
completed template.
·
Identify, describe, and
explain which type of saving account would best fit your current financial
position. Be sure to justify your selection by referencing the
information collected in your completed template.
·
Analyze the following
situation and answer the questions below:
After choosing a
savings account with a 3% interest rate, you decide to invest $5,000 into the
savings account.
·
Using the future value
calculation, determine at an interest rate of 3%, what would be your total
balance available at the end of five years if you leave the $5,000 untouched.
Show your calculations, as well as, your answer in your portfolio.
·
How will this interest
earned be reported on your federal income tax returns?
·
Be sure to include the
following in your financial portfolio:
·
Contact information for
the financial institutions
·
Show all steps of
your future value calculations in Excel or Word format.
·
Support your statements
with examples and at least three scholarly references.
Your financial portfolio
should be presented as a 3–4-page paper in Word format. Be sure to also
include the template you completed for step 1 of the assignment. Apply APA
standards to citation of sources. Use the following file naming convention:
LastnameFirstInitial_M3_A2.doc.
