BMT1014 Managing Personal Finance

Digital Assignment-I

Instructions for students

• Assignment must be HANDWRITTEN, in a neat sheet of white paper.

• Scanned copy of the handwritten doc with name and student id must be uploaded on or before
due date.
• Submission will be awarded zero, if
a. It is copied from another student
b. Student uploads another student’s work with his/her name
c. It is taken from any learning resources or plagiarized.
d. The handwriting is illegible to read
e. Any technical error is uploading. It is the responsibility of the student that his/her
submission has been uploaded.

Neat submissions, will be considered for Bonus (2 marks)

QUESTIONS

BUYING A CAR

1. What are the advantages and disadvantages of buying a new car?

2. In your opinion, is having a new or used car better for you and why?

3. Using examples, what do you understand by the term depreciation?

4. If you are to lease or take out a loan to buy a car, how does the down payment affect your
payments?

5. Would you rather have a bigger down payment and a smaller monthly payment, or a small
down payment and a larger monthly payment?

Credit Cards

6. What is the difference between Credit and Debit?

7. How does a credit card company make its money?

8. How can credit cards help you and hurt you financially?

9. In your own words, explain what the Card Act of 2009 is.