I need help H5
Deasal75
2 years ago
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files (8)HealthInsuranceReview2023.pdf
Creditcasestudy.docx
AutoInsuranceReview.pdf
rentvsbuyactivity-20221.pdf
Reflection7.docx
DeclarationsPage.pdf
Untitleddocument56.pdf
- FinancingCollegeActivitySheet.docx
HealthInsuranceReview2023.pdf
PSU Health Insurance Review
Search online for information on Portland State University’s health insurance plan. Answer the following questions with the information you find.
Who is the heath insurance provider? _____________________________
How much is the deductible? _______________________
What is the co-payment for a visit to the hospital? __________________
What is the co-payment for a visit to your doctor? _________________
What is the cost for insurance per term? _________________
Are you covered during the summer if you do not attend school? __________________
What is the maximum medical expense covered? ____________________________
What was something you learned about PSU’s coverage that you did not already know?
Do you have heath insurance from another source? _____________________
If yes, what about your health insurance is is better and qualified you for the waiver?
Creditcasestudy.docx
Credit case study
To determine the impact of paying $250 per month instead of the minimum payment of $80 on a $4,000 credit card balance with a 23% annual interest rate, we calculate the time it would take to pay off the balance and the total interest paid under both scenarios.
Interest rate: 23% annual (1.92% monthly).
Minimum payment: $80 per month.
Increased payment: $250 per month.
Payments are applied after interest is added
Minimum Payment ($80/month):
· A large portion of the $80 payment goes toward covering interest, so the principal reduces slowly.
· It can take decades to pay off the debt if only minimum payments are made, and the total interest paid can be substantial.
Increased Payment ($250/month):
· With a higher payment, more money goes toward reducing the principal balance each month.
· The debt will be paid off significantly faster, and the total interest paid will be much lower.
By paying $250 instead of $80 per month, you will pay off the balance 148 months faster (over 12 years earlier).
· You will save $8,568.59 in interest.
AutoInsuranceReview.pdf
Auto Insurance Review
It is important to ensure you understand your auto insurance and maintain proper insurance. Review you auto insurance declarations page and fill out this worksheet.
Liability coverage: What is liability coverage?
___________ Bodily Injury Per Person/_______BI Per Accident/_______Property Damage
Is your liability coverage more than the state minimum? If not, why?
Collision Coverage: What is collision coverage?
Do you carry collision coverage? If so, how much is your deductible?
Comprehensive Coverage: What is comprehensive coverage?
Do you carry comprehensive coverage? If so, how much is your deductible?
Other: After the insurance lecture, what other items struck you as important relating to auto insurance?
- Bodily Injury Per Person:
- BI Per Accident:
- Property Damage:
- Text1:
- Text2:
- Text3:
- Text4:
- Text5:
- Text6:
- Text7:
rentvsbuyactivity-20221.pdf
FI 218 Rent vs Buy Assignment
Do some research to compare renting vs buying a house. Using any of the many sites available (rmls.com, Zillow.com, etc) to search for homes for sale. Find a home that you feel you would like to live in once you are settled into your ideal career.
Give a brief description of the house:
What is the listing price?________________________
How much are the property taxes? ________________________ (if the site does not list them you can find out by going to portlandmaps.com)
How many years would you stay in this house? _______________________
Now find a comparable home for rent. You want to find similar specifications so that you can compare apples to apples.
How much is the monthly rent? __________________________
Using the Rent vs Buy Calculator of Freddie Mac’s site https://myhome.freddiemac.com/resources/calculators/rent-vs-buy compare renting vs buying a house using the figures above.
Other factors you’ll need to assume. Monthly renter’s insurance: $15 a month Yearly rent increase: 3% Home appreciation: 5% Your savings interest rate: 0.25% Your state and federal tax rate: 25% Loan amount: Amount from above and assume you put 20% down Interest rate: Find out the current 30-year mortgage Use the origination and other closing charges prefilled. Yearly homeowners insurance: $500 Selling costs: Assume 6%
Calculate results: Will owning saving you money? _______________If so how much? ________________
What is the difference monthly in the total payment of renting vs buying?__________
- What is the listing price: 320,500
- How much are the property taxes: $3,472.67
- How many years would you stay in this house: 5-10 years
- How much is the monthly rent: 3,400
- Will owning saving you money: yes
- If so how much: $156,294
- What is the difference monthly in the total payment of renting vs buying: 1400 more
- Text1:
Reflection7.docx
Reflection #4
Reflection (2 points)- In a word document answer the questions below in a brief reflection with a total minimum word count of 500.
· There are different strategies for prioritizing debt paydown. Describe the strategy you use or would use and why this is most effective for you?
· What are the key factors in establishing or improving your credit score?
Debt Paydown Strategy When it comes to prioritizing debt paydown, I would use the “debt avalanche method”. This strategy involves paying off debts with the highest interest rates first while making minimum payments on all other debts. Once the highest-interest debt is paid off, I would move on to the next highest-interest debt, and so on. This approach is the most effective for me because it minimizes the total amount of interest paid overtime. By focusing on high-interest debts first, more of my money goes toward reducing the principal balance rather than being lost to interest. This allows me to achieve financial freedom faster and reduces the emotional and financial burden of debt.
An alternative method, the “debt snowball”, focuses on paying off the smallest debts first, regardless of interest rates. While this approach provides psychological motivation by creating small wins early, it may result in paying more interest in the long run. For me, the debt avalanche method aligns better with my financial goals because it focuses on long-term cost savings, which I find motivating and practical.
To complement my strategy, I would also aim to increase my monthly payments where possible to accelerate the process. Small adjustments to my budget, such as cutting expenses or windfalls like tax refunds, can make a big difference over time.
Improving and Maintaining a Strong Credit Score Key factors for establishing or improving a credit score include the following:
1. Payment History: This is the most important factor, as it accounts for approximately 35% of a credit score. Consistently paying bills on time demonstrates reliability to lenders and has a significant positive impact on credit.
2. Credit Utilization Ratio: This measures how much of your available credit you are using. Keeping credit utilization below 30%, and ideally under 10%, helps improve your score. For example, if you have a credit card limit of $1,000, your balance should ideally stay below $300.
3. Length of Credit History: The longer your accounts have been open and in good standing, the better. This shows lenders that you have a history of managing credit responsibly. While it takes time to build, keeping old accounts open can help maintain a solid credit history.
4. Credit Mix: Having a mix of different types of credit—such as credit cards, installment loans, and mortgages—can positively affect your score. This demonstrates your ability to manage different kinds of debt responsibly.
5. New Credit Inquiries: Applying for multiple lines of credit in a short period can hurt your score. Limiting hard credit inquiries and being selective about when and where you apply for credit is essential.
6. Avoiding Derogatory Marks: Negative marks, such as late payments, collections, or bankruptcies, significantly impact credit scores. Monitoring your credit report regularly and addressing any inaccuracies promptly can help avoid issues.
Improving and maintaining a good credit score requires consistent effort and attention. I plan to continue practicing responsible credit habits, including budgeting effectively, making timely payments, and monitoring my credit score. These steps will ensure that I can achieve my financial goals and maintain access to favorable loan terms and interest rates in the future.
DeclarationsPage.pdf
Form_SCTNID_CTGRY.OR11206489AA_DECPAGE
<docindex><index>DECPAGE</index></docindex>
Policy Number: 928600887 Underwritten by:
Progressive Universal Insurance Co
October 12, 2021
Policy Period: Oct 1, 2021 - Apr 1, 2022
Page of 1 3
Make payments, check billing activity, update Online Service
progressive.com
policy information or check status of a claim.
For customer service and claims service, 24 hours a day, 7 days a week.
1-800-776-4737
PROGRESSIVE P.O. BOX 31260 TAMPA, FL 33631
Customer 123 Street PORTLAND, OR 97219
Auto Insurance Coverage Summary This is a copy of your Declarations Page
Your coverage began on October 1, 2021 at 12:01 a.m. This policy expires on April 1, 2022 at 12:01 a.m.
This coverage summary replaces your prior one. Your insurance policy and any policy endorsements contain a full explanation of your
coverage. The policy limits shown for a vehicle may not be combined with the limits for the same coverage on another vehicle. The
policy contract is form 9611D OR (08/15) . The contract is modified by forms 4884 (10/08), Z357 (01/07), Z445 OR (11/17) and A267
OR (04/19).
Drivers and household residents
Customer 1 Additional information: Named insured
Spouse Driver Child Driver
Outline of coverage
2018 VOLKSWAGEN ATLAS 4 DOOR WAGON
VIN: 1V2NR2CAXJC553684
Garaging ZIP Code: 97219
Primary use of the vehicle: Commute
Length of vehicle ownership when policy started or vehicle added: At least 1 year but less than 3 years
This vehicle is currently enrolled in the Snapshot® Program. Limits Deductible Premium
……………………………………………………………………………………………………………………………………………………….. Liability To Others $152
Bodily Injury Liability $100,000 each person/$300,000 each accident
Property Damage Liability $100,000 each accident ……………………………………………………………………………………………………………………………………………………….. Personal Injury Protection $15,000 $0 25 ……………………………………………………………………………………………………………………………………………………….. Uninsured/Underinsured Motorist $100,000 each person/$300,000 each accident 24 ……………………………………………………………………………………………………………………………………………………….. Uninsured Motorist Property Damage $50,000 each accident $200 8
$300 hit & run ……………………………………………………………………………………………………………………………………………………….. Comprehensive Actual Cash Value $500 19 ……………………………………………………………………………………………………………………………………………………….. Collision Actual Cash Value $2,000 68 ……………………………………………………………………………………………………………………………………………………….. Total premium for 2018 VOLKSWAGEN $296
Form 6489AA OR (11/20) 4
Continued
Untitleddocument56.pdf
https://www.justice.gov/criminal/criminal-fraud/identity-theft/identity-theft-quiz
Auto Insurance Review
Download Auto Insurance Review
(2 points)- Review your auto insurance declarations page and fill in the worksheet. If you do not have auto insurance, review this declarations page
Download this declarations page
and fill in the worksheet.
Health Insurance Review
Download Health Insurance Review
(2 points)- Do you have health insurance through PSU or from somewhere else? Review PSU's health insurance coverage and fill in the worksheet with that information.
Identity Theft Quiz (2 points)- Take the Identity Theft Quiz
Links to an external site.
. In a Word document share the following:
● Which questions did you answer "no" to and how can you better protect your identity?
● For the questions that you answered "yes" to, how did you know to do this? Where did you learn?
Reflection (2 points)- In a word document answer the questions below in a brief reflection with a total minimum word count of 500.
● How do you currently use insurance in your risk management strategy to protect your finances?
● What insurance do you foresee yourself needing in the future and why? ● How do you currently protect your PII and what further protection measures
could be taken?
Rubric Homework
Criteri a
Ratings Pts
This criterio n is linked to a Learni ng Outco me
Item 1
2 pts
Full Mark s
1.5 pts
Complete but with inaccuracies
1 pts
Not complete or many inaccuracies
0 pts
Missing or blank
2 pts
This criterio n is linked to a Learni ng Outco me
Item 2
2 pts
Full Mar ks
1.5 pts
Complete but with inaccuracies
1 pts
Not complete or many inaccuracies
0 pts
Missin g or blank
2 pts
This criterio n is linked to a Learni ng Outco me
2 pts
Ful l Ma rks
1.5 pts
Complete but with inaccuracie s
1 pts
Not complete or many inaccuracies
0 pts
Missi ng or blank
2 pts
Item 3
This criterio n is linked to a Learni ng Outco me
Reflec tion
2 pt s
F ul l M ar ks
1.5 pts
Complete but with inaccurac ies
1 pts
Not complete or many inaccuraci es
0 pts
Mis sing or blan k
2 pts
Total Points: 8
