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Jane's personal financial planning using cash flows Cash flows: It is typical for Jane to plan, monitor and assess her financial position using cash...
Jane's personal financial planning using cash flowsCash flows: It is typical for Jane to plan, monitor and assess her financial position using cash flow over a given period, typically a month. Jane has a savings account and her bank loans money a 6% per year while it offers short term investment rates of 5%. Jane's cash flows during August were as follows:Item Cash inflow Cash outflowClothes $1,000Interest received $450500800Salary 4,500Auto payment 355Utilities 2801,200222a. Determine Jane's total cash inflows and cash outflows.b. Determine the net cash flow for the month of August.c. If there is a shortage, what are a few options open to Jane?d. If there is a surplus, what would be a prudent strategy for her to follow?
