Time and Mary Essay Example for Free

Time and Mary Essay Mary has been working for a university for almost 25 years and is now approaching retirement. She wants to address several financial issues before her retirement and has asked you to help her resolve the situations below. Her assignment to you is to provide a 4-5 page report, addressing each of the following issues separately. You are to show all your calculations and provide a detailed explanation for each issue. Issue A: For the last 19 years, Mary has been depositing $500 in her savings account , which has earned 5% per year, compounded annually and is expected to continue paying that amount. Mary will make one more $500 deposit one year from today. If Mary closes the account right after she makes the last deposit, how much will this account be worth at that time? Future Value of Annuity = P (1+i)n – 1 i = $500 (1. 05)20 – 1 .05 = $500 (1. 653) (0. 5) =$500 x (33. 065) =$16,533 Issue B: Mary has been working at the university for 25 years, with an excellent record of service. As a result, the board wants to reward her with a bonus to her retirement package. They are offering her $75,000 a year for 20 years, starting one year from her retirement date and each year for 19 years after that date. Mary would prefer a one-time payment the day after she retires. What would this amount be if the appropriate interest rate is 7%? Present Value of Annuity = P 1 – (1+i)-n i = $75,000 1 – (1. 07)-20 .07 = $75,000 0. 741 .07 =$75,000 x (10. 594) =$794,550 If Mary was to receive a one-time payment the day after she retires, she would receive $794,550. But if she takes $75,000 a year for 20 years it would equal to $1,500,000 ($75,000x20yrs) Issue C: Mary’s replacement is unexpectedly hired away by another school, and Mary is asked to stay in her position for another three years. The board assumes the bonus should stay the same, but Mary knows the present value of her bonus will change. What would be the present value of her deferred annuity? Payment will be deferred for 3 years. Present Value = FV 1 (1+i)n= 794,550 1 (1. 07)3 = 794,550 x 0. 816 = $648,590 Issue D: Mary wants to help pay for her granddaughter Beth’s education. She has decided to pay for half of the tuition costs at State University, which are now $11,000 per year. Tuition is expected to increase at a rate of 7% per year into the foreseeable future. Beth just had her 12th birthday. Beth plans to 1 / 2 start college on her 18th birthday and finish in four years. Mary will make a deposit today and continue making deposits each year until Beth starts college. The account will earn 4% interest, compounded annually. How much must Mary’s deposits be each year in order to pay half of Beth’s tuition at the beginning of each school each year? Future Value = PV (1+i)n = 11,000 (1+. 07)10 = 11,000 x 1. 967 = $21,639 Present Value = FV 1 (1+i)n= 11,000 1 (1+. 04)10 = 11,000 x 0. 675 = $7,425 Mary must deposit $7,425 each year in order to pay half of $21,639; which will be Beth’s overall tuition for college. POWERED BY TCPDF (WWW. TCPDF. ORG).

The Clown :: essays research papers

All people know a circus clown when they see one. Jim the clown was not your typical circus clown, with gigantic fire engine red shoes on his tiny feet. He was very different in various ways. His ears where so colossal, that they hung off the side of his head, like ears on an ancient elephant born deep in a lush tropical subterranean rain forest of South East Africa. Standing about nine feet in the air, swaying from side to side, like a redwood timber tree in the cold snow drifts Alps of Washington State. He towers over everyone he meets, like the skyscrapers of New York City. His hair, looked to be made of thick cotton, but curly as ribbon on a bow, a multicolored rainbow running from forehead the neckline and approximately an extra foot soaring from him crown. Jim the clown could be heard from miles around as his voice carried, as roughly as sandpaper, through the dusty cannon bottom of the poverty stricken village. A few nineteenth sentry cobble stone homes and rubble is all that remained. Upon his pale pasty balloon shaped face were two perfectly round circles that sat upon his cheeks. These rose to attention whenever he smiled, but it was very rarely. They plummeted just as fast with a horrifying frown. Fear came to many when they saw him smile. For it brought a sensation of death and grief throughout the several villagers he encountered. His gums and teeth where so disfigured. A hazy banana yellow tint presided over them, whenever he smiled or talked. Always dressed in jailbreak stripes, he wore red and white pants, an extremely large canary yellow bow tie. None of the children loved to see him but even fewer of them loved to hug him. With every tearing hugging embrace, they felt the smooth texture of his plum colored sequenced embedded velvet shirt. If being nine feet off the ground was not enough, he was as round and rotten smelling as a decaying Florida naval orange.

Mcdonald’s Business Ethics

McDonald’s Ethics Or Lack of Ethics Dymirra G. Ambeau Test Drive College McDonald’s was founded in San Bernardino, CA in the year 1940 by Richard and Maurice McDonald. The two brothers sold their fast food restaurant to a milk shake salesman named Ray Kroc in the year of 1961. Kroc believed in conformity, uniformity and the ethic of mass production. Following the ethic of mass production Kroc began to use frozen beef patties and genetically-modified potatoes to ensure uniform taste.McDonald’s also pays minimum wage to their workers, who essentially do assembly line, factory-type work. If you were to reclassify the work they do to factory work that would â€Å"add about 3. 5 million manufacturing jobs to the U. S. economy, at a time when such jobs are rapidly being exported overseas. From a statistical point of view, it would make the U. S. seem like an industrial powerhouse once again, instead of an ageing superpower threatened by low-cost competitors† (Sc hlosser, 2004).Despite the objections of McDonald's, the term â€Å"McJob† was added to Merriam-Webster's Collegiate Dictionary in 2003. The word â€Å"McJob† means a low-paying job that requires little skill and provides little opportunity for advancement. McDonald's is the world's largest distributor of toys, which it includes with kids meals which were introduced in June 1979. It has been alleged that the use of popular toys encourages children to eat more McDonald's food, thereby contributing to many children's health problems, including a rise in obesity.Many parents weren’t happy and said that giving toys with children's meals circumvents parental control and teaches children unhealthy eating habits. One mother sued McDonald’s and went on to say, â€Å"I object to the fact that McDonald's is getting into my kids' heads without my permission and actually changing what my kids want to eat†. McDonald’s now features fruits, salad, and heal thier drinks but continues to give out toys. This was not the first time McDonald’s has been sued. McDonald’s has been sued multiple times for health related issues.They have also been fined twice for breaking child labor laws. In 2001 the company was fined 12,400 British Pounds Sterling by British magistrates for illegally employing and over-working child labor in one of its London restaurants. This is thought to be one of the largest fines imposed on a company for breaking laws relating to child working conditions. In April 2007 in Perth, Western Australia, McDonald's pleaded guilty to five charges relating to the employment of children under the age of 15 in one of its outlets and was fined $8,000 AUD.Still, McDonald’s has a few good ethics. They own the Ronald McDonald House Charities, an organization that helps families with critically ill or injured children who must travel to fulfill their healthcare needs. They also host an annual event at McDonaldâ€⠄¢s called â€Å"McHappy Day† where a percentage of the day’s sales go to charities. McDonald’s also tries to help the environment by using biomass power plants to cut its waste and carbon footprint in half where biomass power plants are available.They’ve also reduced the amount of packing for their food by 46% since the year 1970. Overall, weight reductions in packaging and products, as well as the increased usage of bulk packaging ultimately decreased packaging by 24 million pounds annually. References http://en. wikipedia. org/wiki/Happy_Meal http://www. neumann. edu/academics/divisions/business/journal/review_08/gibison. pdf http://en. wikipedia. org/wiki/Ray_Kroc#McDonald. 27s http://www. guardian. co. uk/business/2010/dec/19/mcdonalds-happy-meals-sued-california http://en. wikipedia. org/wiki/McDonald's#Criticism

Definitions Of Management And Historical Management Theory

Many approaches to management adopted by organizations today are based on historical approaches to management and historical management theories. This paper discusses the management approach taken by the author’s organization, a global information security and incident response team, and compares and contrasts the approach to Frederick Taylor’s scientific management theory. Additionally, the effectiveness of this approach is rated, specifically against modern management theory. Finally, the paper discusses the possible future of the organization’s management approach, or a postmodern management theory solution. The author found similarities between scientific management, modern management and the approach the organization takes to management. Key improvements are identified using the postmodern management solution. Keywords: management, management theories, historical approach to management ORGANIZATIONAL MANAGEMENT APPROACH ANALYSIS 3 Organizational Management Approach Analysis Historical management theories have been utilized to develop organizational approaches to management practice and strategy for decades. A majority of the theories adopted by organizations as management approaches can be tied back to Frederick Taylor’s scientific management theory (Lopez, 2014). This assumption includes the author’s organization, a global information security and incident response team responsible for the information security of a large, international electronics corporation. TheShow MoreRelatedLeadership And Management Essays1616 Words   |  7 PagesWhat is the difference between leadership and management? Not many people understand what the â€Å"leadership† or â€Å"management† term means. Many people thing that they are similar or interchangeable. I was one of those a few years ago. 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