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FHCE 3200 Module 2 Questions and Correct Answers/ Latest Update / Already Graded

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FHCE 3200 Module 2 Questions and Correct Answers/ Latest Update / Already Graded

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FHCE 3200 Module 2 Questions and
Correct Answers/ Latest Update / Already
Graded
To accumulate wealth we need to:

Ans: invest our savings


In order to invest, we need to:

Ans: save money first


In order to save, our income needs to:

Ans: be greater than our expenses


income - expenses =

Ans: surplus (deficit)


savings rate =

Ans: savings / income


Good debt:


All rights reserved © 2025/ 2026 |

, Page |2


Ans: -mortgages, and the modest amounts of student loans
-does not negatively impact our credit score
-builds human capital
-increases the potential for greater income/wealth in the future


Bad debt:

Ans: revolving credit related debt


Too much income devoted to servicing debt prevents _________.

Ans: savings


debt-to-income ratio:

Ans: (total required debt payments / gross income) X 100


What is a wage?

Ans: what an employer will pay an employee to complete a
task; almost all wages are based on an hourly rate


Minimum federal wage:

Ans: $7.25


All rights reserved © 2025/ 2026 |

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