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Emerging Technologies-Final Exam

Final exam of emerging technologies
by

Matthew Manzella

on 17 January 2013

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Transcript of Emerging Technologies-Final Exam

photo credit Nasa / Goddard Space Flight Center / Reto Stöckli Unit 1 Financial Institutions At some time, almost everyone will use a financial institution, usually to keep their money safe. It is important to know how to maintain a bank account and make decisions about credit, because these financial institutions play a huge role in people's lives. It is at these financial institutions that loans are applied for, and money is kept. Also, credit accounts are setup here. Debit and Credit/Checks Debit cards take money that you already have out of your bank account to make payments. A check usually works the same way as a debit card, and it is very important to keep track of transactions in order to know how much money you have in your account. Credit however, is money that you owe at the end of the month. It is beneficial to make these credit payments in order to avoid debt. Having credit can be a blessing, but it is very necessary to be responsible with a credit card. Planning Your Future It's important to save, invest, and budget in order to have a good financial future, in case you need money for emergencies, or you want something. You have to know what you goals are in order to do this. The more money you and more time you save and invest, the more money you will have. If you spend it wisely as well, you can use it for fun things once you have a sturdy foundation of money in the future. Interest Rates/Stocks People tend to save money in savings accounts where it earns interest. Interest is a small percentage of the money in your account that is added to your account over certain amounts of time, usually monthly or annually. People also can invest their money in stocks, which is a share of a company. If you invest for a while, have a diverse portfolio, reinvest your dividends and redirect your dividends you can make huge amounts of money in the stock market. However, it is very risky because if a stock loses price you can lose massive amounts of money. Unit 2 Taxes are money that the government collects from people who own property, work, or buy things. Tax Flow Income tax is what you pay from your job, sales tax is what you pay when you buy an item, and property tax is the money you pay for owning property. The more money, the higher the tax. All this money either goes to local, state, or federal government. It is used for FICA, national debt, military, social programs, police/firefighters, streetlights, roads, elections, schools, parks, and public transportation. Income Net monthly income is the income you make before taxes, and gross monthly income is what you make after taxes. To find gross monthly income simply subtract all the taxes from your NMI. If it's annual, multiply by 12. Social Security Social security is a social insurance that provides money for americans who are retired, sick, or disabled. A social security number is used to track your earnings throughout your lifetime. Medicare covers health expenses for all americans 65 or older. Unit 3 A budget is a plan for spending money used by anyone who needs to figure out if they have enough money to buy something and what to spend money on. All budgets are personalized based on the situation. Budget Categories Categories could include housing, transportation, clothing, utilities, entertainment and food. How much money you have for one category depends on how much you spend on another, so some sacrifices might have to be made. To budget, you have to take into consideration things like how much you make, who all you have to provide for, taxes you pay, and where you want your money to go Unit 4 Typical family Budget Preparing for Biz town Take into consideration your life situation, like whether or not you have a spouse, kids, or even a job. You also have to look at how much you make, and if you have any investments. You must also know your budget guidelines, which are based off of how much you make, your housing, and transportation. It is also important to plan for the future by making sure you have enough money left over to save and invest, ultimately making you more money and enabling you to be more lenient with your budget. Unit 4 ties together everything learned in emerging technologies in order to prepare you for biz town, and the real world as well.
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