ipl-logo

Xacc 280 Week 1 Mini Case

247 Words1 Page

In this case I will be investing $100 and the assumption is that it will be compounded monthly. Investing that for 5 years earning 5% p.a interest. My interest percent monthly will be 0.05/12, and I would get .0042%. Number of payments that is 12 months times 5 years for the first scenario to get 60 total payments. My payment is as discussed earlier of $100.00 a month. My formula would look like $100(((1 +0042^60) -1)/.0042) and that totals $6807.55. To get my interest it would be $6807.55-6000=$807.55 is total interest earned on the 5 years scenario. To get the interest I took my total amount subtracted the total payments to received that number.

If I were to do this for 30 years I would take the same $100 a month at 5%, this time though it will be a total of 360 payments since it is 30 years. My formula would be $150(((1+.0042) ^360) -1)/.0042) = $107653.67 is the total future value. To get the interest it would be $107653.67 -36000=$71653.67 …show more content…

If I did that it would be like a awesome gift. Easy money that you "forgot" that you had, when you do get it. It could really help when your income isn 't as high as it used to be when you were setting this money

Show More
Related

  • Swift Health Plan Executive Summary

    611 Words  | 3 Pages

    Introduction Capstone Consulting Group has been approached by the Medical Associates to perform an executive summary regarding a land option and the changes in the Swift Health Plan. Medical Associates needs a recommendation concerning a 225-acre land on whether to sell only 25 acres closest to an anticipated highway or if they should sell all 225-acres. Swift Health Plan is announcing changes and Medical Associates need a recommendation on how to get in the best position for their developing managed care markets. Land Option In 1980, Medical Associates acquired a 30- year option for the 225-acre of land by the facility that established a purchase price not to exceed ‘the average prevailing rate plus 10 percent for undeveloped farm land in Hillsboro County’ (Seidel and Lewis 2014).

    Read More

  • Dmx Case

    435 Words  | 2 Pages

    DMX Arrested on Charges of Tax Evasion Photo Credit: The Boom Box Earl Simmons or more famously known as DMX, was arrested and charged with tax fraud in New York. DMX is a rapper, record producer, and an actor. According to reports, he was alleged to have hidden millions of dollars in his income statement from the Internal Revenue Service. He avoided paying his taxes which amounted to a total of $1.7 million over the past couple of years from 2002 to 2005.

    Read More

  • Hobby Hobby Store Case Summary

    128 Words  | 1 Pages

    The Hobby Lobby store filed the case against the Secretary Department of Health and Human Services stating that the contraceptive method doesn’t match their religious faith. In fact, they were requested to pay the insurance fee. For them, they said that paying for contraception under the Affordable Care Act contradict the federal law protecting religious freedom. According to IIT Chicago College of Law (n.d.), the contraception requirement set by the government were against some religious policies.

    Read More

  • Xacc/280 Week 6 Checkpoint

    354 Words  | 2 Pages

    Interestingly, social function was the most frequently selected domain with pain intensity, although participants did not consider social health as an important area as physical health, which was obviously supported by the results of the open-ended question and PROMIS cards parts of the interview. Social function was merged from two PROMIS domains; “ability to participate in social roles and activities” and “satisfaction with social roles and activities”. These two domains were combined because the participants had difficulty differentiating between them and therefore they only selected one of them during the interview. A systematic review showed that the social component of life was important for individuals with LBP 55. In addition, WHO reported that LBP affects the work performance among individuals with LBP and it considered a leading cause of work absence and loss 53.

    Read More

  • NFL Player's Wage Differences

    1611 Words  | 7 Pages

    His mean income over 25 years would be 54,400 dollars per year. 54,400 over 25 years is 1.36 million dollars. With the military when listed about you get 50 percent of your last pay plus 2.5 percent for every additional year after 20 years served. He would be earning 62.5 percent of the 90,320 dollars a year for the rest of his life. This is 56,450 dollars a year, now doing this for the next 12 years minus the cost of living would give us 435,072 dollars.

    Read More

  • 1 Million Dollars Dbq

    751 Words  | 4 Pages

    1 million for 1 million people Aunt Bessie gave a million dollars should I spend it on myself or should I make this nation a better place than what it was. What will you put one million dollars?. During progressivism there was child labor, women 's suffrage, no food inspection as well as no care for the environment. And for me to make it right i would like to split my one million dollars into food inspection, 600k, child labor 300k, and women’s suffrage 100k to improve the situation and make the future great.

    Read More

  • Meridian Water Pump Case Summary

    1206 Words  | 5 Pages

    Case Study #1 Andrew Gonzalez Saint Leo University MGT 417 Case Study #1 The Meridian water pump case is about a small company that produces small water pumps. There was a meeting held within the department managers that pertained to making medium size pumps for the next 6months. Arguments were recorded between the marketing and sales manager, production manager, HR manager and finance manager. It seems to me that all were pointing the finger at one another on why things couldn’t get done and each department was slowing the other down by not efficiently running their departments.

    Read More

  • Xacc/280 Week 4 Mini Case

    513 Words  | 3 Pages

    1) a. current liability: Money that a business owner must pay to a creditor within 12 months of the balance sheet date is a current liability. Ideally, short-term assets, such as cash and accounts receivable, should more than offset short-term liabilities, such as accounts payable, notes payable and payroll. If they do, the company 's short-term liquidity position is positive, which suggests the company will likely meet its cash-flow needs and remain a going concern. It is wise for a business owner to remain alert to his company 's current liabilities and the cash and assets that will be turned to cash within one year to meet these obligations. 1) b. Long-term liabilities are due more than a year after the balance sheet date.

    Read More

  • Xacc/280 Week 6 Knowledge Check

    418 Words  | 2 Pages

    1. Collective decision making, such as determining the level of public goods, differs from standard decision making within a household in two important ways. First, there is a problem of eliciting preferences. If the amount that individuals have to pay depends on their statements, they may tend to understate their true preferences. If the amount that individuals have to pay does not depend at all on their statements, they may tend to overstate their true preferences.

    Read More

  • Task 2-3 W-4

    478 Words  | 2 Pages

    Individuals may struggle with making their own deductions from pay, but this principle is clearly outlined in Corinthians 16:2. This verse encourages individuals to plan a date to set aside a set amount of money for financial needs. This is a better option than the large return because the money will earn interest over the course of time. These options are ideal for someone that wants easy access to the money in savings. Although the certificate of deposit has time constraints, there are options that are for less than a year and if he chooses to have a one-time refund he would not have availability to the money for at least a

    Read More

  • Buffett Case Study

    1327 Words  | 6 Pages

    Q3. How much value, if any, does Buffett derive from the credit agreement? There are two parts of the credit agreement, the 8-year term loan and the penny warrants. The $400 million term loan accompanying with a $45 million revolving credit facility will give Buffett a chance to earn at an interest rate of 10.5%.

    Read More

  • The Importance Of Pay Raise

    756 Words  | 4 Pages

    In the case you lose that job, what would you fall back on? You never know what the future brings. Even if you don’t lose your job, you may need to take a big step higher in your life or your career, like starting your own business. That extra cash stacked away will definitely be of great use. Continue to save and if you never used to saving before, you start doing that now!

    Read More

  • Assignment: Personal Finance: Alice Goals

    1162 Words  | 5 Pages

    She needs to consider how much money she can possible save to reach her goal and for her children’s education. She needs to consider if studying for another degree help her to achieve her goal faster or will that be too much risk (Realistic). Alice is setting a ten year deadline for her goal and also setting that when she has her first child she will be able to save $20 weekly for the baby’s education

    Read More

  • Saving Money Essay: How To Save Your Money

    1029 Words  | 5 Pages

    The first step to take before jumping into the process of saving your money is setting your saving goal. If you have something

    Read More

  • Persuasive Essay On Saving Money Memberships

    596 Words  | 3 Pages

    But even when our economy gets better, wouldn 't it be nice to save money on all the things we need? Wouldn 't it be nice to have an a few extra thousand dollars in our pockets each year? Well, you certainly can! The best part about it is it 's incredibly easy to do!

    Read More

More about Xacc 280 Week 1 Mini Case

Open Document