ASSIGNMENT 04 C07J Personal Finance Directions: Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A: 1. Allison expects her monthly cash inflow after taxes to be $3000. She also has the following monthly expenses: Rent, $750; student loan payment, $200; utilities, $150; food, $300; recreation, $600; car expenses, $200; clothing, $150. What is Allison's net cash flow for the current month? 2. Judy has cash inflows of $3,000 for the month of June. Her expenses or cash outflows were $4,000. List two (2) options for Judy to meet her financial obligations in June and indicate the effect (increase or decrease) of these options on her assets and liabilities. Part B: Describe how credit cards affect the following. 1. Your personal budget 2. Your income statement 3. Your balance sheet Part C: Describe at least two (2) advantages and two (2) disadvantages of selling your home yourself instead of hiring a realtor. Grading Rubric Please refer to the rubric on the following page for the grading criteria for this assignment. CATEGORY Part A: Net cash flow (10 points) Part A: Options & effect (15 points) Part B: Credit cards (20 points) Exemplary 10 points Student provides the correct net cash flow. 15 points Student provides 2 clear, logical options for Judy to meet her financial obligations, along with the effect of these options on her assets and liabilities. 20 points Student provides a clear, logical description of how credit cards affect each of the following: your personal budget, your income statement, your balance sheet. Satisfactory 0 points Student provides the incorrect net cash flow. 12 points Student provides 1-2 mostly clear, logical options for Judy to meet her financial obligations, along with the effect of these options on her assets and liabilities. 15 points Student provides a mostly clear, logical description of how credit cards affect 2-3 of the following: your personal budget, your income statement, your balance sheet. Unsatisfactory N/A N/A Unacceptable N/A N/A 8 points Student provides 1-2 weak or unclear options for Judy to meet her financial obligations, along with the effect of 1-2 of these options on her assets and liabilities. 10 points Student provides a weak or unclear description of how credit cards affect 1-2 of the following: your personal budget, your income statement, your balance sheet. 5 points Student provides 1 poor options for Judy to meet her financial obligations, along with the effect of 0-1 of these options on her assets and liabilities. 5 points Student provides a poor description of how credit cards affect 1 of the following: your personal budget, your income statement, your balance sheet. Part C: Selling your home advantages (15 points) 15 points Student provides at least 2 clear, logical advantages of selling your home yourself instead of hiring a realtor. 12 points Student provides 1-2 mostly clear, logical advantages of selling your home yourself instead of hiring a realtor. Part C: Selling 15 points 12 points your home Student Student disadvantages provides at least provides 1-2 (15 points) 2 clear, logical mostly clear, disadvantages logical of selling your disadvantages home yourself of selling your instead of home yourself hiring a realtor. instead of hiring a realtor. Mechanics (15 15 points 12 points Points) Student makes Student makes no errors in 1-2 errors in grammar or grammar or spelling that spelling that distract the distract the reader from the reader from the content. content. 8 points Student provides 1-2 weak or unclear advantages of selling your home yourself instead of hiring a realtor. 5 points Student provides 1 poor advantage of selling your home yourself instead of hiring a realtor. 8 points Student provides 1-2 weak or unclear disadvantages of selling your home yourself instead of hiring a realtor. 5 points Student provides 1 poor disadvantage of selling your home yourself instead of hiring a realtor. 8 points Student makes 3-4 errors in grammar or spelling that distract the reader from the content. 5 points Student makes more than 4 errors in grammar or spelling that distract the reader from the content. Format (10 Points) 10 points The paper is written in proper format. All sources used for quotes and facts are credible and cited correctly. 8 points The paper is written in proper format with only 1-2 errors. All sources used for quotes and facts are credible and most are cited correctly. 5 points The paper is written in proper format with only 3-5 errors. Most sources used for quotes and facts are credible and cited correctly. 2 points The paper is not written in proper format. Many sources used for quotes and facts are less than credible (suspect) and/or are not cited correctly. 
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