1. You’ve just graduated and taken a job with? Al-Mart. Your benefits package includes a? 401(k). You have no idea how to invest your funds in the? 401(k), so you decide to use the? “default investment.” Which of the following mutual funds is most likely to be the default investment for a? 21-year old college? graduate? A. Vanguard Empire Balanced fund B. Fidelity 2060 Lifecycle Allocation fund C. American Funds Washington Fixed Income fund D. T. Rowe Price 2020 Asset Allocation fund.
2. Only Weird Old Doc White can relate Michael Jordan and Richard Petty to credit card payments. He told you about the Michael Jordan and Richard Petty Rules to help you? understand: A. even? rich/well-off celebrities can get themselves into trouble by? mis-using credit cards. B. why making just the minimum monthly payments on credit cards is such a bad financial move. C. that? 60-80% of professional athletes declare bankruptcy within 5 years of retiring from their sport. D. that the average American household has credit card balances large enough to purchase a NASCAR race car.