Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill
Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill0
Chapter 3Money Management StrategyWhat You’ll Learn Section 3.1 Discuss the relationship between opportunity costsand money management. Explain the benefits of keeping financial recordsand documents. Describe a system to maintain personal financialdocuments. Section 3.2 Describe a personal balance sheet and cash flowstatement. Develop a personal balance sheet and cash flowstatement. Section 3.3 Identify the steps of creating a personal budget. Discuss the advantage of increasing your savings.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill1
Money When You Need It Q: Do I need an emergency fund even though I work parttime, live at home, and have no bills? A: There is no guarantee that your job will always be therefor you. If you become sick or injured, you may have totake time off from work. Even if you have disabilityinsurance, it may pay only a fraction of what you earn. Ifyou own a car, you may have unexpected repair bills.Emergency funds are for those unexpected things.Go to finance07.glencoe.com to complete the Standard& Poor’s Financial Focus activity.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill2
Section 3.1Organizing Financial RecordsMain IdeaDo you think it isnecessary to keeporganized hardcopies of many ofyour financialrecords? Why orwhy not?Organizing your personal financial records canhelp you make informed decisions about yourspending.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill3
Section 3.1Organizing Financial Recordsmoneymanagementplanning how toget the most fromyour moneyOpportunity Costs and MoneyManagementEvery decision you make represents a trade-off,or opportunity cost. Trade-offs are especiallycommon when it comes to making decisionsabout money management.Good money management can help you keeptrack of where your money goes so that you canmake it go farther.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill4
Section 3.1Organizing Financial RecordsResolving Tough Opportunity CostsConsider the factors that influence your decisionmaking by compiling a mental list of youroptions. Then consider how those options fityour: Values Current financial situation Goal of effective money managementBy considering these options, you can makebetter spending decisions.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill5
Section 3.1Organizing Financial RecordsBenefits of Organizing Your FinancialDocumentsThe first step in effective money management isto organize your personal financial documents,which include: Bank statements Paycheck stubs Receipts Automobile ownership titles Birth certificates Tax formsPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill6
Section 3.1Organizing Financial RecordsPersonal Financial DocumentsCreating an organized system for handling yourpersonal financial documents helps you: Plan and measure your financial progress Handle routine money matters, such aspaying bills on time Determine how much money you willhave now and in the future Make effective decisions about how tosave moneyPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill7
Section 3.1Organizing Financial RecordsWhere to Keep Your FinancialDocumentsYou can keep your financial documents indifferent places, such as: A home file A safe-deposit box On a computerTo organize your documents as effectively aspossible, you may want to use all three.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill8
Section 3.1Organizing Financial RecordsHome FilesA home file is simple to set up and does nottake up much space. You can use: A file drawer Several folders A cardboard boxWhatever method you use, your home fileshould be simple so that you have quick accessto your documents.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill9
Section 3.1Organizing Financial RecordsSetting up a Home Filing SystemTo make good use of a home filing system: Sort through all your personal financialrecords. Arrange them according to the type ofeach document. Label all folders or boxes. File your receipts and other financialpapers as soon as possible afterreceiving them.Do not keep hard-to-replace documents in ahome file.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill10
Section 3.1Organizing Financial Recordssafe-deposit boxa small, securestoragecompartment thatyou can rent in abank, usually for 100 a year orlessSafe-Deposit BoxesMore important documents that are commonlykept in safe-deposit boxes include: Car titles Mortgage loan papers Birth certificates and adoption papers List of insurance policies Valuable collectables such as coins orstampsAs an alternative, some people use home firesafe boxes that lock.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill11
Section 3.1Organizing Financial RecordsHome ComputersYou can use your computer to: Store certain types of financial records. Plan your financial future. Keep a running summary of checks youhave written. Track your monthly spending.You can also generate personal financialdocuments and statements from the informationyou have organized by using software.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill12
Section 3.2Personal Financial StatementsMain IdeaWhat informationdo you think mightbe on a cash flowstatement?A personal balance sheet and cash flow statementcan help you to analyze your financial situation.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill13
Section 3.2Personal Financial Statementspersonalfinancialstatementa document thatprovidesinformation aboutan individual’scurrent financialposition andpresents asummary ofincome andspendingPersonal Balance SheetFor a complete look at your financial situation,you should create a personal balance sheet anda cash flow statement.These personal financial statements can helpyou: Determine what you own and what youowe. Measure your progress toward yourfinancial goals. Track your financial activities. Organize information that you can usewhen you file your tax return or apply forcredit.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill14
Section 3.2Personal Financial Statementspersonal balancesheetalso called a networth statement;a financialstatement thatlists items of valueowned, debtsowed, and aperson’s net worthnet worththe differencebetween theamount that youown and the debtsthat you owePersonal Balance SheetTo evaluate your financial situation, you will firstneed to create a balance sheet. A personalbalance sheet lists: Items of value owned Debts owed A person’s net worthUse the following steps to create a personalbalance sheet.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill15
Section 3.2Personal Financial Statementsassetsany items of valuethat an individualor company owns,including cash,property, personalpossessions, andinvestmentsStep 1: Determine Your AssetsTo determine your assets, you need to considerthe four categories of wealth: Liquid assets Real estate Personal possessions Investment assetswealthan abundance ofvaluable materialpossessions orresourcesPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill16
Section 3.2Personal Financial Statementsliquid assetscash and itemsthat can bequickly convertedto cashreal estateland and anystructures that areon it that a personor family ownsCategories of WealthThe money in your savings and checkingaccounts is a liquid asset.The second category of wealth, real estate, isnot as easy to convert into cash.You can determine the market value of your realestate by looking at the amount recorded on thereal estate portion of your balance sheet.market valuethe price at whichproperty wouldsellPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill17
Section 3.2Personal Financial StatementsPersonal PossessionsYour personal possessions include items suchas: Cars Any valuable belongings that are not realestateYou will get a better idea of your financialsituation by recording these items’ currentmarket value on your balance sheet.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill18
Section 3.2Personal Financial StatementsInvestment AssetsInvestment assets are the fourth category ofwealth. These include: Retirement accounts Securities such as stocks and bondsYou should set aside such assets for long-termfinancial needs, such as: Paying for college Buying a house RetirementPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill19
Section 3.2Personal Financial Statementsliabilitiesthe debts that youoweStep 2: Determine Your LiabilitiesWhen you prepare a personal balance sheet,you must also record your liabilities. There aretwo main types of liabilities: Current liabilities—short-term debts thathave to be paid within one year Long-term liabilities—debts that do nothave to be fully repaid for at least a yearPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill20
Section 3.2Personal Financial Statementsinsolvencya financial statethat occurs ifliabilities aregreater thanassetsStep 3: Calculate Your Net WorthYou can determine your net worth bysubtracting your liabilities from your assets.Although you may have a high net worth, youcan still have trouble paying your bills. This istrue when: Most of your assets are not liquid. You do not have enough cash to meetyour expenses.If you are unable to pay all your debts, you mayexperience insolvency.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill21
Section 3.2Personal Financial StatementsStep 4: Evaluate Your Financial SituationYou can use a balance sheet to track yourfinancial progress.As a rule, you can increase your net worth by: Increasing your savings Increasing your investments Reducing your expenses Reducing your debtsPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill22
Section 3.2Personal Financial Statementscash flowthe money thatactually goes intoand out of yourwallet and bankaccountsincomethe money youreceiveCash Flow Statement: Income VersusExpensesCash flow is divided into two parts: Cash inflow—your income Cash outflow—all of the money youspendA cash flow statement is simply a summary ofyour cash flow during a particular period.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill23
Section 3.2Personal Financial StatementsCash Flow StatementTo create a cash flow statement, follow thesesteps: Record your income. Record your expenses. Determine your net cash flow.This summary gives you important informationand feedback on your income and spendingpatterns.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill24
Section 3.2Personal Financial Statementstake-home paythe amount ofincome left aftertaxes and otherdeductions aretaken out of yourgross paydiscretionaryincomethe money leftover after payingfor theessentials—food,shelter, clothing,transportation,and medicationStep 1: Record Your IncomeTo record your income: List all of your sources of income during agiven month. Record the amounts as your cash inflow. Make sure you record the exact amountof cash inflow—your take-home pay plusyour interest earnings on investmentsand savings.Some financial experts evaluate the strength ofa person’s income by measuring discretionaryincome.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill25
Section 3.2Personal Financial StatementsStep 2: Record Your ExpensesFixed expenses are those that are more or lessthe same each month. These include: Cable television charges Rent Bus fare for commuting to work or schoolVariable expenses may change from month tomonth and include: Food and clothing Electricity, medical costs, and recreationThe total of your fixed and variable expenses isyour cash outflow.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill26
Section 3.2Personal Financial Statementssurplusextra money thatcan be spent orsaved, dependingon a person’sfinancial goalsand valuesdeficitthe financialsituation thatoccurs when moremoney is spentthan is earned orreceivedStep 3: Determine Your Net Cash FlowYou can determine your net cash flow bysubtracting your expenses from your income. Ifyou have a surplus, you can: Place it in an emergency fund savingsaccount for unexpected expenses or topay living costs if you do not receive asalary. Place it in savings and investment plans.If your cash net flow is negative, you will have adeficit.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill27
Section 3.2Personal Financial StatementsYour Financial PositionWhen your net cash flow changes, so does yournet worth.To make up for a deficit, for example, you can: Borrow money (increasing your liabilities). Draw from your savings (decreasing yourassets).If you end a month with a surplus, you can: Save the money (adding to your assets). Pay off previous debts (reduce yourliabilities).Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill28
Section 3.3Budgeting for Financial GoalsMain IdeaWhat is yourdefinition of abudget, and whatare theadvantages ofusing one?Learn to budget and achieve financial goals byincreasing your savings.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill29
Section 3.3Budgeting for Financial Goalsbudgeta plan for usingmoney to meetwants and needsPreparing a Practical BudgetHaving a budget is necessary for successfulfinancial planning. By using a budget, you willlearn how to: Live within your income. Spend your money wisely.You will also develop good money managementskills that will help you reach your financialgoals.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill30
Section 3.3Budgeting for Financial GoalsStep 1: Set Your Financial GoalsYour financial goals are the things you want toaccomplish with your money.It is important that you: Make your financial goals as specific aspossible. Have a definite time frame for your goals. Separate your goals into short-term,intermediate, and long-term goals.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill31
Section 3.3Budgeting for Financial GoalsStep 2: Estimate Your IncomeWhen you have set your goals, you can beginworking on a budget that is practical for you.To create a budget: Record your estimated income for thenext month. Include all sources of income that youknow you will be receiving. Do not include money you may or maynot get, such as bonuses and gifts.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill32
Section 3.3Budgeting for Financial GoalsStep 3: Budget for UnexpectedExpensesYou can create special savings accounts to helpyou: Meet unexpected expenses Reach your financial goalsPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill33
Section 3.3Budgeting for Financial GoalsStep 4: Budget for Fixed ExpensesYour fixed expenses are those that do notchange from month to month. These include: Mortgage Automobile and student loan payments Insurance premiumsPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill34
Section 3.3Budgeting for Financial Goalsconsumer priceindex (CPI)a measure of thechanges in pricesfor commonlypurchased goodsand services inthe United StatesStep 5: Budget for Variable ExpensesPlanning for variable expenses is not as easy asbudgeting for fixed expenses. You should makeyour best guesses based on costs from previousmonths.To determine reasonable expense levels, youcan use: Guidelines published by financial experts The consumer price index (CPI) Your friends and relativesPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill35
Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill36
Section 3.3Budgeting for Financial Goalsbudget variancethe differencebetween thebudgeted amountand the actualamount that youspendStep 6: Record What you SpendTo find out how practical your budget is, you willneed to keep track of your expenses during anentire month and then revise your budget ifnecessary.Your spending will not always work out asplanned. The budget variance can either be a: Surplus (if you spend less than you hadexpected) Deficit (if you spend more than you hadexpected)Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill37
Section 3.3Budgeting for Financial GoalsStep 7: Review Spending and SavingPatternsBudgeting is a continual process. You may needto: Review your budget each month. Consider making changes based on thenature of your expenses.Even if your budget generally seems to be ontarget, it is a good idea to prepare an occasionalbudget summary to review your progress.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill38
Section 3.3Budgeting for Financial GoalsHow to Budget SuccessfullyA budget should have several importantcharacteristics: A good budget is carefully planned. A good budget is practical. A good budget is flexible. A good budget must be written and easilyaccessible.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill39
Section 3.3Budgeting for Financial GoalsWays to Increase Your SavingsIncreasing your savings is the key toestablishing a sound financial future.While learning to save is not easy, you canimprove your savings rate by using severalsavings strategies.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill40
Section 3.3Budgeting for Financial GoalsPay Yourself FirstOne method you can adopt is to set aside afixed amount as savings before you sit down topay your bills.As an alternative to writing a check each month,many banks will: Automatically deduct a certain amountfrom your checking amount each month. Deposit that amount into your savingsaccount.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill41
Pay or Save?Be a smart consumer and pay off your credit card bills beforeyou put money away in a savings account. The interest ratecharged on credit cards is usually higher than the interest youcan earn from your savings account.How do you determine the interest rate on your credit card?Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill4242
Section 3.3Budgeting for Financial GoalsPayroll SavingsYour employer may offer a similar option calleda payroll savings deduction. A payroll savingsdeduction is a portion of your earnings that is: Automatically taken out of your paycheck Put into your savings or retirementaccountPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill43
Section 3.3Budgeting for Financial GoalsSpending Less to SaveA third way to save is to start small. Make aconscious effort to spend less each day.How you save, though, is less important thanthe action of saving. The earlier you start, thebetter. Even small amounts of savings can: Grow quickly Help you reach your financial goalsPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill44
Chapter 3Money Management StrategyKey Term Review money managementsafe-deposit boxpersonal financial statementpersonal balance sheetnet worthassetswealthliquid assetsreal estatemarket valueliabilities insolvencycash flowincometake-home paydiscretionary incomesurplusdeficitbudgetconsumer price index (CPI)budget variancePersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill45
Chapter 3Money Management StrategyReviewing Key Concepts1.List at least three examples from your own experience ofopportunity costs.Some examples of opportunity costs may include: Deciding to go to the movies instead of reading a bookfor your English homework assignment Choosing to play with the neighbor’s dog on a Saturdayafternoon instead of watching television or playing withyour Xbox Choosing to spend your paycheck on clothes ratherthan putting it in the bank to earn interestPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill46
Chapter 3Money Management StrategyReviewing Key Concepts2.Explain the benefits of keeping and organizing financialrecords and documents.Organizing your financial documents makes it easier to: Plan and measure progress. Handle routine money matters. Know how much money is available. Make effective decisions.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill47
Chapter 3Money Management StrategyReviewing Key Concepts3.Identify documents to store in home files, safe-depositboxes, or on a computer.Some personal financial documents that should be stored in asafe place include: Birth certificates and Social Security cards Mortgage loan papers Title deeds Copy of will Tax records RésuméPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill48
Chapter 3Money Management StrategyReviewing Key Concepts4.Describe what you learn from a balance sheet and personalcash flow statement.A personal balance sheet helps you to: Determine your net worth. Manage your money to meet financial goals.A personal cash flow statement helps you to: Determine the amount of cash you receive. Determine how you use this cash.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill49
Chapter 3Money Management StrategyReviewing Key Concepts5.List the steps in preparing a personal balance sheet and apersonal cash flow statement.To create a personal balance sheet, you will need to: Determine your assets Determine your liabilities Calculate your net worth Evaluate your financial situationTo create a personal cash flow statement, you will need to: Record your income Record your expenses Determine your net cash flowPersonal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill50
Chapter 3Money Management StrategyReviewing Key Concepts6.Identify the steps in preparing a personal budget.To create a budget, you will need to: Set financial goals. Estimate your income. Budget for unexpected expenses and savings. Budget for fixed expenses. Budget for variable expenses. Record what you spend. Review your spending and saving patterns.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill51
Chapter 3Money Management StrategyReviewing Key Concepts7.Explain how you can use your budget to identify ways toincrease your savings.By creating and using a budget, you can decide to: Set aside a fixed amount as savings before you sitdown to pay your bills. Take advantage of your employer’s payroll savingsdeduction. Make an effort to spend less each day.Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill52
Newsclip: Ways to SaveBest-selling personal finance authors advise finding ways to saveby cutting small luxuries and saving money from summer jobs.Log On Go to finance07.glencoe.com and open Chapter 3.Read the article. Then make a record of expenses. Ask yourself:What are your spending and saving habits?Personal Finance Unit 1 Chapter 3 2007 Glencoe/McGraw-Hill53
Management Every decision you make represents a trade-off, or opportunity cost. Trade-offs are especially common when it comes to making decisions about money management. Good money management can help you keep track of where your money goes so that you can make it go farther. money management
Part One: Heir of Ash Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 18 Chapter 19 Chapter 20 Chapter 21 Chapter 22 Chapter 23 Chapter 24 Chapter 25 Chapter 26 Chapter 27 Chapter 28 Chapter 29 Chapter 30 .
TO KILL A MOCKINGBIRD. Contents Dedication Epigraph Part One Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Part Two Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 18. Chapter 19 Chapter 20 Chapter 21 Chapter 22 Chapter 23 Chapter 24 Chapter 25 Chapter 26
DEDICATION PART ONE Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 PART TWO Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 18 Chapter 19 Chapter 20 Chapter 21 Chapter 22 Chapter 23 .
The roles of the finance function in organisations 4. The role of ethics in the role of the finance function Ethics is the system of moral principles that examines the concept of right and wrong. Ethics underpins an organisation’s sustained value creation. The roles that the finance function performs should be carried out in an .File Size: 888KBPage Count: 10Explore furtherRole of the Finance Function in the Financial Management .www.managementstudyguide.c Roles and Responsibilities of a Finance Department in a .www.pharmapproach.comRoles and Responsibilities of a Finance Department .www.smythecpa.comTop 10 – Functions of Business Finance in an Organizationwikifinancepedia.com23 Functions and Duties of Accounting and Finance .accountantnextdoor.comRecommended to you b
of Managerial Finance page 2 Introduction to Managerial Finance 1 Starbucks—A Taste for Growth page 3 1.1 Finance and Business What Is Finance? 4 Major Areas and Opportunities in Finance 4 Legal Forms of Business Organization 5 Why Study Managerial Finance? Review Questions 9 1.2 The Managerial Finance Function 9 Organization of the Finance
Trigonometry Unit 4 Unit 4 WB Unit 4 Unit 4 5 Free Particle Interactions: Weight and Friction Unit 5 Unit 5 ZA-Chapter 3 pp. 39-57 pp. 103-106 WB Unit 5 Unit 5 6 Constant Force Particle: Acceleration Unit 6 Unit 6 and ZA-Chapter 3 pp. 57-72 WB Unit 6 Parts C&B 6 Constant Force Particle: Acceleration Unit 6 Unit 6 and WB Unit 6 Unit 6
About the husband’s secret. Dedication Epigraph Pandora Monday Chapter One Chapter Two Chapter Three Chapter Four Chapter Five Tuesday Chapter Six Chapter Seven. Chapter Eight Chapter Nine Chapter Ten Chapter Eleven Chapter Twelve Chapter Thirteen Chapter Fourteen Chapter Fifteen Chapter Sixteen Chapter Seventeen Chapter Eighteen
18.4 35 18.5 35 I Solutions to Applying the Concepts Questions II Answers to End-of-chapter Conceptual Questions Chapter 1 37 Chapter 2 38 Chapter 3 39 Chapter 4 40 Chapter 5 43 Chapter 6 45 Chapter 7 46 Chapter 8 47 Chapter 9 50 Chapter 10 52 Chapter 11 55 Chapter 12 56 Chapter 13 57 Chapter 14 61 Chapter 15 62 Chapter 16 63 Chapter 17 65 .
