Assignment 5

c. Do you think it is best to keep track of finances using a check register, a bank statement, or both? Why? (2-4 sentences. 1.0 points)

a. According to the bank statement, how many checks were written from this account during the statement period? (0.5 points)

3. Would you rather have a savings account that offered simple interest, or an account that offered compound interest? Why?

"What is necessary to change a person is to change his awareness of himself. --

Looking back from when I began my career, I can say I came a long way learning the concepts of understanding the expectations that arose from all my positions. In my first job just after graduating, I was appointed as a Business Accountant of a multinational company. Since then, I was caught in the myth that people who were in leadership positions or high ranking were leaders. Being in a junior position, I could have the least effect on any new ideas as my voice seems to have landed in deaf ears. I have seen how those businesses were not in line with their Missions and Values only to find later that many of the staff had left the company.

I believe that Excel can enhance the younger generations math learning skills. I think that as long as the basic math skills of calculating numbers are learned and mastered first, then Excel can be of a great benefit in the development of the critical thinking skills that are necessary to implement all of the different formulas. I believe that this kind of critical thinking that is required to realize how to formulate the data is a very important skill to develop. I do think that the younger generations and everyone else's calculating skills become a "little rusty" because of continually relying on Excel to do all of the calculating instead of doing the math out longhand, but this can occur even through the use of calculators. I think Excel

Option 2: A 15-year fixed rate mortgage with two points and an APR of 4.5%, compounded monthly.

After reading the above statement, did you miss any species in your gut content sampling? If so, which ones?

addition, the policy indirectly supports the families of the elderly. It does so by offering services to caregivers that prevent or shorten costly nursing home placements, relieving financial strain, and providing educational programs to give a better understanding of aging. However, due to insufficient funding OAA services have restricted access and cannot reach all the elderly in need. Statistical demographics reveal that 27% of seniors that are receiving services are below the poverty line, recipients are more likely to be female (71% vs 57%), twice as likely to be rural, more likely to live alone, have less income, less educated, and less healthy than the average senior (Herrera 2013).

Therefore the annual interest rate is 8% and the effective annual rate compounded quarterly is 8.24%

a. How much would the payment be if rate of interest is 5% and you only financed the truck for 48 months?

Which of the following has the lowest time value of money at the same interest rate for the same number of payments?

5) Show all work, as partial credit will be given for each question’s answer. Organize your work so it is easy to follow. You can use word, power point, excel or combinations of the above.

11. What is the relationship between an effective annual (compounded) rate (EAR) and the annual percentage rate (APR) for a loan requiring monthly payments? A. The APR is lower than the annually compounded rate. B. The APR is higher than the annually compounded rate. C. The APR equals the annually compounded rate. D. The answer depends on the interest rate.

Compound Interest is higher in comparison to the Simple Interest because the interest is being charged monthly on the principal and the accrued interest from the previous months.