Remember to submit your work following the file naming convention FirstInitial.LastName_M01.docx. For example, J.Smith_M01.docx. Remember that it is not necessary to manually type in the file extensio

Remember to submit your work following the file naming convention FirstInitial.LastName_M01.docx. For example, J.Smith_M01.docx. Remember that it is not necessary to manually type in the file extension; it will automatically append.

Start by reading and following these instructions:

1. Quickly skim the questions or assignment below and the assignment rubric to help you focus.
2. Read the required chapter(s) of the textbook and any additional recommended resources. Some answers may require you to do additional research on the Internet or in other reference sources. Choose your sources carefully.
3. Consider the discussion and the any insights you gained from it.
4. Create your Assignment submission and be sure to cite your sources, use APA style as required, check your spelling.
5. Combine the exercises questions with the essay into one document. Please restate the exercise question in the document, but not the essay prompt.
6. The final document will be 1500 words, (include the exercise prompts in the word count).

Assignment:

1. This module explored a number of different classifications of mutual funds. a. Based on your age and current financial situation, which type of mutual fund seems appropriate for your investment needs? Explain your answer. b. As people get closer to retirement, their investment goals often change. Assume you are now 45 and have accumulated $110,000 in a retirement account. In this situation, what type of mutual funds would you choose? Why? c. Assume you are now 60 years of age and have accumulated $400,000 in a retirement account. Also, assume you would like to retire when you are 65. What type of mutual funds would you choose to help you reach your investment goals? Why?

2. What types of IRA’s are there and which type is most appropriate for you?  What are the advantages of a ROTH IRA? What are the limits annually that an individual can invest into a ROTH IRA?

3. Since Tanya Martin retired, she has used income from her investment in the Alger Mid Cap Growth fund to supplement her other retirement income. During one three-month period, the fund grew by $4,000. If she withdraws 65 percent of the growth, how much will she receive?

4. Mike Jackson invested a total of $22,000 in the New Colony Pacific Region mutual fund. The management fee for this particular fund is 0.80 percent of the total asset value. Calculate the management fee Mike must pay this year.

5. Jane Ramirez owns shares in the Touchstone Health and Biotechnology Fund that have a current value of $13,150. The fund charges an annual 12b-1 fee of 0.25 percent. What is the amount of the 12b-1 fee Ms. Ramirez must pay?

6. Assume that one year ago, you bought 100 shares of a mutual fund for $13.50 per share, you received a $0.42 per-share capital gain distribution during the past 12 months, and the market value of the fund is now $17. Calculate the total return for this investment if you were to sell it now.

7. Suppose Dave invested only $20,000 of his own money and borrowed $180,000 interest-free from his rich father. What was his return on investment?

8. Cindy bought a rental property for $100,000 with no borrowed funds. Later, she sold the building for $120,000. What was her return on investment?

9. Search online business sites for the current price of gold and silver.  What are the current quotes for an ounce of gold and an ounce of silver? Are the prices of precious metals going up or down? How do the latest prices compare with the prices quoted in the chapter? What might be some reasons for fluctuations in the prices of precious metals?

Essay

Research the typical ways to start saving and investing.  

What roles traditionally have stock brokers, bankers, and financial advisers played?  

How has technology enabled more individual control over investment options and lowered costs.  

Create a savings and investing plan that best suits your individual situation and define the goals you have and how this plan will help you reach them.