Time Value of Money

Introduction According to Kuhlemeyer (2004), time value of money means that money at hand today is worth more than the same amount at a future date. It is the amount by which money will grow to in the future. In simpler terms, it is the net increase or decrease in the amount of money. He affirms that the concept helps to determine the amount that one will earn in the future.Advertising We will write a custom essay sample on Time Value of Money specifically for you for only $16.05 $11/page Learn More This concept results from the existence of charges due to the use of other people money. There are different sections under time value of money. According to Kuhlemeyer (2004), the concept of simple interest, compound interest, compounding and discounting are used to assess the time value of money. The process of growing money from its present value to its future value at a given duration and interest rate is known as compounding. Discounting is the process o f calculating how much future value of money equal to at present. Decisions that utilized the concept of time value of money The instance was when one of my business partners owed me money which I had lent to him as a loan. The person was reluctant to repay the money, and I took him to a law court. After the careful analysis of the evidence that I presented, the case was ruled in my favor and the judgment specified that the loan should be repaid to me. I further made a request that the borrower should not repay the exact amount that I lent. In that instance, I was claiming that the amount I lent should be repaid with an interest. An agreement had to be entered to determine the amount of interest that was payable to me. The rate of interest was determined by considering the prevailing economic conditions, and it was determined as the prevailing market interest rate at that time. Compounding was done on the amount that I had lent out using the market rate over the duration of time the person held my money. As a result, the amount of money that I received increased tremendously. Computation was done using the future value annuity factor, considering that variables like principal, interest rate and duration were known. Having applied the concept of time value money, I was able to obtain extra income from that transaction. If I had claimed the original amount I had lent out, I would have obtained relatively less.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another instance where the concept of time value of money was applied was during a rotary competition in my home country. The winners were to be awarded a total of half a million shillings. It happened that I was declared a winner among other people. As the winner claimed their money, I was reluctant since I had a decision to grow the money so that it could increase. An agreement was entered between the rotary commit tee and me so that they could be paying me as an annuity at the end of every month. This was advantageous move as the money was earning me interest at the prevailing interest rate. The compounding formula was applied to determine the amount at the end of every month. If I had claimed the money as a lump sum, then I could have obtained a lesser amount than what I finally got. Reference List Kuhlemeyer, A. (2004). Fundamentals of financial management. USA, Pearson Carroll College: Waukesha Pearson Education Limited. This essay on Time Value of Money was written and submitted by user Landon Bowers to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Hammurabi Essays (572 words) - Codes Of Conduct, Legal Codes

Hammurabi Essays (572 words) - Codes Of Conduct, Legal Codes Hammurabi In his position as King of Babylonia, Hammurabi managed to organize the world's first code of laws and establish Babylon as the dominant and successful Amorite city of its time. "Records written on clay tablets show that Hammurabi was a very capable administrator and a successful warrior. His rule spanned from 1792 B.C. to 1750 B.C. When he became king in 1792, he was still young, but had already become entrusted with many official duties in his administration"(Grolier). In the early years of his reign, Hammurabi mostly participated in traditional activities, such as repairing buildings, digging canals, and fighting wars. Yet later in his rule, Hammurabi organized a unique code of laws, the first of its kind, therefore making himself one of the world's most influential leaders. Hammurabi was primarily influential to the world because of his code of laws. This code consisted of 282 provisions, systematically arranged under a variety of subjects. He sorted his laws into groups such as family, labor, personal property, real estate, trade, and business. This was the first time in history that any laws had been categorized into various sections. This format of organization was emulated by civilizations of the future. For example, Semitic cultures succeeding Hammurabi's rule used some of the same laws that were included in Hammurabi's code. Hammurabi's method of thought is evident in present day societies which are influenced by his code. Modern governments currently create specific laws, which are placed into their appropriate family of similar laws. Hammurabi had his laws recorded upon an eight foot high black stone monument. Hammurabi based his code on principles like, the strong should not injure the weak, and that punishment should fit the crime. As for punishment, "legal actions were initiated under the code by written pleadings; testimony was taken under oath. The code was severe in it's penalties, prescribing "an eye for an eye, a tooth for a tooth.""(Grolier). This code of laws was able to be maintained by invoking the authority of the gods and the state. Although the punishments were different than those of today, the authority of the state (government) is similar. Currently, punishments are issued through the state's law enforcement system, comparable to the way punishment was determined and enforced in ancient Babylon. In the code, crimes punishable by death required a trial in front of a bench of judges. Included in these crimes were: bigamy, incest, kidnapping, adultery and theft. There were also laws similar to today. For example, a husband who wished to divorce his wife, was required to pay alimony and child support. By creating the world's first set of organized laws, Hammurabi constituted a model set of moral codes for other civilizations to duplicate. "The code of Hammurabi is believed to have greatly influenced the development of Near Eastern civilizations for centuries after it was written"(Britannica). Although Hammurabi failed to establish an effective bureaucratic system himself, his ideas were successful in establishing laws in Babylonia. Since Babylon was the world's first metropolis, the large population needed to be bound by a strict set of organized civil laws. The way Hammurabi constructed his laws is influential to the world today, because laws can be more easily understood by the people. Bibliography "Code of Hammurabi." Encyclopedia Britannica (1989), X, 682. "Hammurabi." Grolier Multimedia Encyclopedia (1994). "Hammurabi." Compton's Encyclopedia (1990), XI, 225.

5 top tracking apps for your 2018 goals

5 top tracking apps for your 2018 goals The end of 2017 is right around the corner, and if you’re like most people your brain is turning towards setting goals for yourself for 2018. Also, you may be realizing that you’re about to embark on a familiar cycle: setting a bunch of grand plans for yourself for the coming year that quickly fall apart, sometimes before you even get to shout â€Å"Happy New Year!† If this sounds like your typical end-of-year behavior, don’t feel too bad- you’re not alone! According to a recent Huffington Post article, â€Å"Only  8 percent of people  actually keep their New Year’s resolutions, according to one commonly cited statistic. There are many reasons  people can’t stick to their resolutions, from setting too many of them to getting derailed by small failures. Setting overly ambitious and restrictive goals―like quitting sugar when you haven’t already been making small changes to improve your diet―is one major cause of failure. While you might initially feel inspired and energized by setting blowout goals for 2017, the luster of these resolutions fades quickly when we realize how difficult they are to keep.†That said, setting goals for 2018 may seem daunting―but there is a path towards success and there are tools for helping you stay on track. These days, you don’t need anything more than your smartphone and a helpful tracking app to keep you focused and on target as you work towards your goals.There are a ton of goal-tracking apps available, and choosing the right one for you can become a big project in and of itself. Take a deep breath- we’ve gone ahead and selected five of the most helpful goal-tracking apps available to help you achieve your goals in the new year.1. GoalsOnTrackBilling itself as â€Å"goal software for high achievers,† GoalsOnTrack empowers users to create SMART-based goals (Specific, Measurable, Attainable, Realistic, and Timely) and provi des lots of useful features to help users stay on track- like braking down large, long-term goals into easier-to-manage and organize milestones and subgoals. GoalsOnTrack also allows you to set focused action plans, recurring tasks (with helpful reminders!), and task schedules that are easy to update and adjust with you. It even has a journaling option and customizable music and photo features to help keep you motivated and visualize success.2. Coach.meThis handy habit-tracking app features a free mobile version as well as customizable fee-based options, which even includes a real coach to help keep your goals for 2018 within reach. Once you set a habit for yourself using the app, you can begin tracking your daily progress, set helpful targets and reminders, view weekly and monthly behavior trends, and even connect with a supportive community for encouragement and guidance- all designed to help you form new and positive habits in your life.3. StridesStrides is a free, an all-in-one goal and habit tracking app that features a variety of helpful tracking templates that you can use, or ones that you can customize. It has a host of helpful visuals that are accessible from a central dashboard, which makes it easy to see your progress (or lack thereof) and retool accordingly. Users of the free app version can track up to 10 goals at a time on any of their iOS-based devices; users who require greater flexibility and power can take advantage of the fee-based Strides Plus premium plan.4. Way of LifeWay of Life calls itself â€Å"The Ultimate Habit Builder and Breaker† and features a wide range of helpful visual tracking features, including pie charts, bar charts with easy-to-read trend lines, and a scoreboard that provides instant feedback. It also allows you to tag, skip, share, and archive goals, set multiple daily reminders, take notes, and export to email and other apps. The free version lets you track up to three goals, habits, or behaviors that you want to increase or decrease; fee-based options let you unlock additional features and resources.5. ATrackerIs your busy life a daily struggle to get everything done and keep track of it all? If so, then ATracker just might be the lifesaver you need. This time-tracking app is designed to make sure that you’re maximizing your time each day towards effectively pursuing your goals. The app lets you track the time you spend on a variety of chosen tasks and view daily breakdowns in pie charts or bar graphs- so you can quickly see how your waking hours are being spent and make adjustments accordingly. There are free and fee-based versions available, based on your individual needs and goals.There you have it- the top tracking apps to help you set your goals for 2018 and stay on track. All you need to do is select the one that seems best for you, and not let excuses get in the way of you achieving your goals.

Paediatric Radiography Essay Example | Topics and Well Written Essays - 750 words

Paediatric Radiography - Essay Example From the diagram, it will be noted that at different ages, there are different anatomical proportions that people possess. This means that the body proportion of an adult is different from a child. In paediatric radiography, this understanding is very important in ensuring that the wrong body parts will not be captured while engaging in radiographic procedures. The differences in anatomical proportion are also necessary when giving protection to various parts of the body. For example, the size of a blockade to be used on the chest of the child cannot be the same for an adult. This is because the differences in proportion imply that it will not be possible to cover out relatively the same areas when using the same dimensions for both. There are a lot of radiographic exposure parameters that must be considered in paediatric radiography. One of these is focal spot size. For paediatric radiography, the advice is that â€Å"the ability of the focal spot to provide the most appropriate exposure time and radiographic voltage selection at a stated focus-to-film distance† should be preferred (Hardy and Boynes, 2003, p. 25). There is also the issue of tube filtration, where the use of high kV techniques is recommended in order to get the shortest exposure times possible. Rooks, Sisler and Burton (1998) also mentioned voltage as another exposure factor, indicating that high voltage can enhance short exposure times, which are needed for paediatric radiographic examinations. Currently, such short exposure times are achieved with the use of high frequency generators (Hardy and Boynes, 2005). It is common knowledge that paediatric radiography requires more radiation protection, even though all forms of radiation protection are necessary in adult radiography. In paediatric protection, the tenderness of body tissues and possibility of cells not being mature enough is the major

Mystery Skull Lab Report Example | Topics and Well Written Essays - 1000 words - 1

Mystery Skull - Lab Report Example The mystery skull has the values of these indices recorded as 65, 23 and 90 respectively. The skulls were first grouped with reference to the index of supra-orbital height and the specimens D, F, G, H, I and B whose scientific names are given in chart 1 were found to the potential identities of the mystery skull. The recorded values for the supra-orbital values were 70, 58, 58, 70, 66 and 70 respectively which were close to the mystery skull’s values of 65. The observation was then narrowed down to the index of nuchal area height and only three specimens (F, G and I) bore a resemblance to our mystery specimen with recorded values of 21, 23 and 12 referenced against the mystery specimen’s value of 23. A reference was then made to the index of the condylar position and we only remained with G and I (Homo erectus and Archaic Homo sapiens respectively). In order to separate the two specimens the non-index characteristics were observed and the physical traits of the specimens that match the ones of the mystery skull #1 were noted. The specimen G has thick eyebrow projection while that is not the case for specimen I. in this case the mystery skull is similar to specimen I. it is also observed that the specimen G has a protruding face when compared to both specimen I and our mystery skull #1. A look at the shape of the eye orbits suggests that our mystery skull is skull I since skull G has square eye orbits while I and the mystery skull both have oval eye orbits. The height of the nasal orbit is also shorter for g when compared to the height of G and the mystery skull #1. The index characteristics; index of supra-orbital height, index of nuchal area height and the index of the condylar position of the mystery skull #2 are recorded in the chart 1 as 71, 37 and 44.

The Clean Energy and the fossil fuels in Saudi Arabia Essay -- Environ

Over the past 200 years, mankind discovered the fossil fuels and they used this source to produce hug energy. This affects the environment in many negative ways and caused many issues worldwide such as urban air pollution and acid rain, oil spills and the high temperature of earth. Saudi Arabia has the biggest oil reserves in the world by 19.66% (the world factbook, 2011) and the second oil producer country in the world with roughly 10.121 million barrels a day – which account for 12% of the total world production of oil in 2010 (Fontinelle,2011). Moreover, the country relies heavily on oil industry. And the most successful companies in the country are thus whose work in oil industry such as ARAMCO Company. The reason behind this success is because most of these companies get financial support and attention from the Saudi government and sometimes the government owes these companies. Because of the massive reserve of oil and the high income that generated from oil, the country has less attention to seek for other sources of clean energy such as solar energy and wind energy which leads to the increase of air pollution in the country. However, oil is expected to last in the next 50 to 100 years (Hubbert, 1956). Furthermore, the International organizations have made many decisions to protect the environment and environmental resource such as Kyoto Protocol which decided to raise the use of solar energy to 50%of the total global energy use by 2020 (UNFCCC ,2005 ). Recently, these issues lead the Saudi government to realize problems, such as air pollutions, and start to invest in clean energy area but not as expected. These days many people in Saudi Arabia argue the uses of clean energy and replace with the fossil fuels. And they d... ...hese negatives and people can get positives from this and have clean and healthy environment. Moreover, they will have renewable energy. We also can create new jobs and we can use this fuel in transportations. However, this technology is very expensive but it can cover the cost in long term and sometimes in a short term. In addition, Saudi Arabia is large country and it is known as a desert country, which is suitable for this technology. Many believe that the best solution for this issue is to use both fossil fuels and clean energy and create hybrid power (KACST, 2009). Therefore, the country can get the benefit from both side and they can keep fossil fuels longer as much they can, save the environment and another source of income to the country. Finally, every person needs to think about this issue, so we will have a great and successful life in the future.

Deception Point Page 71

Despite the late hour, Gabrielle was not at all surprised to see the building's foyer filling with people, an apparent convergence of excited media crews and even more excited NASA personnel. Gabrielle hurried inside. The entryway resembled a museum, dominated dramatically by full-size replicas of famous mission capsules and satellites suspended overhead. Television crews were staking claims on the expansive marble floor, seizing wide-eyed NASA employees who came through the door. Gabrielle scanned the crowd, but did not see anyone who looked like PODS mission director Chris Harper. Half the people in the lobby had press passes and half had NASA photo IDs around their necks. Gabrielle had neither. She spotted a young woman with a NASA ID and hurried over to her. â€Å"Hi. I'm looking for Chris Harper?† The woman eyed Gabrielle strangely, as if she recognized her from somewhere and couldn't quite place it. â€Å"I saw Dr. Harper go through a while ago. I think he headed upstairs. Do I know you?† â€Å"I don't think so,† Gabrielle said, turning away. â€Å"How do I get upstairs?† â€Å"Do you work for NASA?† â€Å"No, I don't.† â€Å"Then you can't get upstairs.† â€Å"Oh. Is there a phone I might use to-â€Å" â€Å"Hey,† the woman said, looking suddenly angry. â€Å"I know who you are. I've seen you on television with Senator Sexton. I can't believe you would have the nerve-â€Å" Gabrielle was already gone, disappearing into the crowd. Behind her, she could hear the woman angrily telling others Gabrielle was here. Terrific. Two seconds through the door, and I'm already on the Most Wanted List. Gabrielle kept her head down as she hurried to the far side of the lobby. A building directory was mounted on the wall. She scanned the listings, looking for Chris Harper. Nothing. The directory showed no names at all. It was arranged by department. PODS? she wondered, scanning the list for anything that had to do with the Polar Orbiting Density Scanner. She saw nothing. She was afraid to glance over her shoulder, half expecting to see a crew of angry NASA employees coming to stone her. All she saw on the list that looked even remotely promising was on the fourth floor: EARTH SCIENCE ENTERPRISE, PHASE II Earth Observing System (EOS) Keeping her head turned away from the crowd, Gabrielle made her way toward an alcove that housed a bank of elevators and a water fountain. She searched for the elevator call buttons, but saw only slits. Damn. The elevators were security controlled-key card ID access for employees only. A group of young men came hurrying toward the elevators, talking exuberantly. They wore NASA photo IDs around their necks. Gabrielle quickly bent over the fountain, watching behind her. A pimple-faced man inserted his ID into the slot and opened the elevator. He was laughing, shaking his head in amazement. â€Å"The guys in SETI must be going nuts!† he said as everyone boarded the elevator. â€Å"Their horn carts traced drift fields under two hundred milliJanskys for twenty years, and the physical proof was buried in the ice here on earth the whole time!† The elevator doors closed, and the men disappeared. Gabrielle stood up, wiping her mouth, wondering what to do. She looked around for an interoffice phone. Nothing. She wondered if she could somehow steal a key card, but something told her that was probably unwise. Whatever she did, she knew she had to do it fast. She could now see the woman she'd first spoken to out in the lobby, moving through the crowd with a NASA security officer. A trim, bald man came around the corner, hustling toward the elevators. Gabrielle again bent over the fountain. The man did not seem to notice her. Gabrielle watched in silence as the man leaned forward and inserted his ID card into the slit. Another set of elevator doors slid open, and the man stepped on. Screw it, Gabrielle thought, making up her mind. Now or never. As the elevator slid closed, Gabrielle spun from the fountain and ran over, sticking her hand out and catching the door. The doors bounced back open, and she stepped in, her face bright with excitement. â€Å"You ever seen it like this?† she gushed to the startled bald man. â€Å"My God. It's crazy!† The man gave her an odd look. â€Å"The guys at SETI must be going nuts!† Gabrielle said. â€Å"Their horn carts traced drift fields under two hundred milliJanskys for twenty years, and the physical proof was buried in the ice here on earth the whole time!† The man looked surprised. â€Å"Well†¦ yes, it's quite†¦ † He glanced at her neck, apparently troubled not to see an ID. â€Å"I'm sorry, do you-â€Å" â€Å"Fourth floor please. Came in such a hurry I barely remembered to put on my underwear!† She laughed, stealing a quick look at the guy's ID: JAMES THEISEN, Finance Administration. â€Å"Do you work here?† The man looked uncomfortable. â€Å"Miss†¦?† Gabrielle let her mouth fall slack. â€Å"Jim! I'm hurt! Nothing like making a woman feel unmemorable!† The man went pale for a moment, looking uneasy, and running an embarrassed hand across his head. â€Å"I'm sorry. All this excitement, you know. I admit, you do look very familiar. What program are you working on?† Shit. Gabrielle flashed a confident smile. â€Å"EOS.† The man pointed to the illuminated fourth floor button. â€Å"Obviously. I mean specifically, which project?† Gabrielle felt her pulse quicken. She could only think of one. â€Å"PODS.† The man looked surprised. â€Å"Really? I thought I'd met everyone on Dr. Harper's team.† She gave an embarrassed nod. â€Å"Chris keeps me hidden away. I'm the idiot programmer who screwed up voxel index on the anomaly software.† Now it was the bald man whose jaw dropped. â€Å"That was you?† Gabrielle frowned. â€Å"I haven't slept in weeks.† â€Å"But Dr. Harper took all the heat for that!† â€Å"I know. Chris is that kind of guy. At least he got it straightened out. What an announcement tonight, though, isn't it? This meteorite. I'm just in shock!† The elevator stopped on the fourth floor. Gabrielle jumped out. â€Å"Great seeing you, Jim. Give my best to the boys in budgeting!† â€Å"Sure,† the man stammered as the doors slid shut. â€Å"Nice seeing you again.† 84 Zach Herney, like most presidents before him, survived on four or five hours of sleep a night. Over the last few weeks, however, he had survived on far less. As the excitement of the evening's events slowly began to ebb, Herney felt the late hour settling in his limbs. He and some of his upper level staff were in the Roosevelt Room enjoying celebratory champagne and watching the endless loop of press conference replays, Tolland documentary excerpts, and pundit recaps on network television. On-screen at the moment, an exuberant network correspondent stood in front of the White House gripping her microphone. â€Å"Beyond the mind-numbing repercussions for mankind as a species,† she announced, â€Å"this NASA discovery has some harsh political repercussions here in Washington. The unearthing of these meteoric fossils could not have come at a better time for the embattled President.† Her voice grew somber. â€Å"Nor at a worse time for Senator Sexton.† The broadcast cut to a replay of the now infamous CNN debate from earlier in the day. â€Å"After thirty-five years,† Sexton declared, â€Å"I think it's pretty obvious we're not going to find extraterrestrial life!† â€Å"And if you're wrong?† Marjorie Tench replied. Sexton rolled his eyes. â€Å"Oh, for heavens sake, Ms. Tench, if I'm wrong I'll eat my hat.† Everyone in the Roosevelt Room laughed. Tench's cornering of the senator could have played as cruel and heavy-handed in retrospect, and yet viewers didn't seem to notice; the haughty tone of the senator's response was so smug that Sexton appeared to be getting exactly what he deserved.