Home Essay

Powerful Essays
Asif abdul salam
ID-222534
Home work Assignment 2 Week Two Homework Assignment Chapter 2 Financial Planning Problems- Page 56 : 1,2,3,4,5,6.
Q1) Determining the Future Value of Education. Jenny Franklin estimates that as a result of completing her master’s degree, she will earn $6,000 a year more for the next 40 years. [a] .What would be the total amount of these additional earnings? Answer . 1[a] $6,000 × 40 = $ 240,000
Therefore, The total additional earnings of jenny franklin = $ 240,000.
………………………………………………………………………..
[b] What would be the present value of these additional earnings based on an annual interest rate of 6% ? (Use Table A-4 in Appendix A)
Answer . 1[b] From the present value table, the present value of $1 at 6% for the next 40 years will be 0.097
Therefore the present value based on an annual rate of interest of 6% is Present Value (PV) =Future Value (FV) × Present Value Interest Factor (PVIF) PV = $ 240,000 × 0.097 = $ 23,280
…………………………………………………………………………………………
Q2) Comparing Living Costs. Brad Edwards is earning $ 42,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost of living 12 percent higher than where he currently lives. What would be the minimum salary he would need at his job to maintain the same standard of living ?

Answer. [2] $100 is the cost of living index currently, Brad Edward earns $42,000 in a city located in the Midwest. In New city cost of living increases by 12%, the new index rate is 112
The minimum amount Mr. Edward must earn if he prefers to take up a job in the new city will be.. Buying power = The index number of the new city × salary Let X be the buying power.
X= [112 × 42,000]/ 100
x=

You May Also Find These Documents Helpful

  • Good Essays

    On Going Home Essay

    • 703 Words
    • 3 Pages

    Home is a place you grow up wanting to leave, and grow old wanting to get back to. In Joan Didion’s essay “On Going Home”, Didion shows how disconnected she feels from her family on a visit back home for her daughter’s birthday through varied syntax and imagery. Growing up, becoming independent from your family, and starting a family of your own can lead to you growing apart from your family. Although Didion’s husband tolerates her family, he doesn’t fully accept them which causes the conflict…

    • 703 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Take home essay

    • 994 Words
    • 4 Pages

    individual and the community. In the essay “How to Tame a Wild Tongue”, by Gloria Anzaldua, the author talks about her childhood in Texas and how she was restrained from speaking Spanish because it wasn’t seen as “American,” instead she was told to speak English. We soon learn that her actual language is Chicano Spanish, which is a cross between Spanish and English and because of it she is looked down upon by both English and Spanish speakers. Throughout the essay she struggles with her own identity…

    • 994 Words
    • 4 Pages
    Better Essays
  • Better Essays

    Take Home Essay

    • 1505 Words
    • 5 Pages

    O’Neal 1 Dajon O’Neal David Zeanah Anthropology 15 Section 03 Take Home Essay Origins to Our Existence on Earth There are two theories about the origin of modern humans: 1) they began in one place, Africa—and 2) pre-modern humans migrated from Africa to become modern humans in other parts of the world. According to the lectures, most evidence trace to the first theory because of a few satisfying valid reasons. In the lectures it was told that “fossils of modern humans are particularly found…

    • 1505 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    essay about home

    • 293 Words
    • 1 Page

    even friends give us something called home. They give us their appreciation through actions that show us how much they love us. Our parents provide us food, a roof over our head, security and they also offer their love to us and with it comes the sense of home. Many of us do not live in the same way our parents or grant parents did. Our society cannot stop changing and evolving. However, even though our scenarios have changed they still are able to give us home. If we take a look couple generation…

    • 293 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Essay On Nursing Home

    • 1105 Words
    • 5 Pages

    Nursing homes are where families send their elderly, trusting that they will be taken care of. The elderly are not always capable of taking care of themselves. Weather it is remembering to take pills, to forgetting how to do basic things. The nurses in the nursing homes are supposed to help them and take very good care of them. In most nursing homes the nurses are mistreating the elderly by not being gentle with them, not paying attention to them and giving them what they need, and not keeping them…

    • 1105 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Definition Essay Home

    • 435 Words
    • 2 Pages

    Home is defined by the overwhelming sense of peace, comfort, and familiarity that you feel in a place or from the people who surround you. The peaceful sense of home comes from being with family, spending time with God reading the scripture, or being in nature enjoying the fresh, crisp air. The comfort of home, on the other hand, comes from a sense of security, the warmth of my cat curled up on my lap softly purring, the smell of my mother’s cooking, or the sound of my father’s deep laughter that…

    • 435 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Soldier's Home essay

    • 694 Words
    • 3 Pages

    A Soldier's Home: Elements of Fiction The short story, A Soldier's Home by Ernest Hemingway, is mainly about a veteran of World War 2, who has recently returned home to Oklahoma after spending time in the Rhine. This veteran, Krebs, is characterized both directly and indirectly in the text of the story. There are direct statements about his character. There are also scenes that make the reader infer about the character of Krebs. He is a dynamic character, because of his change of attitude…

    • 694 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Essay On Homeless Home

    • 479 Words
    • 2 Pages

    can not choose where they came from because maybe their parents couldn't afford to put them through school to get education. Some of the homeless people that you might see on the street are war veterans coming home from war they might not have the best financial support after coming home from war.these tiny house should first go to the homeless war veterans because they served this country to let us be free. Although tiny houses may look like trash but can be very economical and and environmental…

    • 479 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Essay On Home Assistance

    • 447 Words
    • 2 Pages

    Home Care Assistance and Summer Heat According to the Huffington Post, during the past week (week of July 22, 2016), 124 million Americans, just under 40 percent of the country, faced Excessive Heat Warnings and Heat Advisories. These warning and advisories are issued when the heat index rises to dangerous levels. The heat index measures how hot it feels when the temperature is added to the relative humidity. This last week, much of the country faced heat indexes ranging from 110-115 degrees F.…

    • 447 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Home Depot Essay

    • 1722 Words
    • 7 Pages

    Home Depot STRENGTHS - Strong market position - Higher returns than competitors - Balanced brand mix - WEAKNESSES Sub optimal capital structure - Product recall OPPORTUNITIES - International presence - Growing popularity of power tools - Increasing online sales THREATS - Intense competition - Slowdown in US housing market - Rising labor wages in the US |The Home Depot Inc. (HD)…

    • 1722 Words
    • 7 Pages
    Good Essays