ALLIED FIN202 MODULE 4 HOMEWORK ASSIGNMENT

Welcome to the Module 4 Homework Assignment for FIN 202: Personal Finance.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.If you have any problems with this assignment, please e-mail your instructorRunning head: [INSERT
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PART IDirections: Using
Microsoft® Word to save and submit your work, please provide
detailed and elaborate responses to the following questions. Your responses should include examples from
the reading assignments. 1.
Steve Franklin recently purchased a
stereo system. After a few weeks it
overheated, causing a small fire and some minor damage. What actions would you recommend to Steve to
resolve his consumer complaint? What
legal actions might Steve consider for this situation?2.
Describe four common consumer myths and
explain the dangers of such erroneous beliefs.
Why do you think they continue to be believed by many consumers? Offer suggestions for ways to increase
consumer awareness of such myths.3.
Explain what amortization is and how a
down payment and loan duration impact it.4.
Explain how current interest rates can
affect the price of a home.5.
What is the purpose of an escrow account
and what costs are typically included?6.
What factors influence most people’s
buying decisions?7.
What are the main sources of consumer
information?8.
What legal actions are available when
assistance is needed to resolve a consumer problem?9.
Explain the difference between
arbitration and mediation.10. Distinguish
between an implied warranty and an express warranty.11. Differentiate
between a cooperative and a condominium. Be sure to include a discussion of the
ownership and responsibility for the common areas.12. Explain
negative amortization and how such a situation can occur.13. John
Ashford needs to sell his home because of a job transfer to another city. What actions should John take to sell his
home?14. Gerry
Intel is considering buying a home. What
actions would you recommend for her to take to accomplish this goal of buying a
home?
15. What
factors influence the type of housing a family will select?