Home purchase scenario calculations

80,000 x 1.042^3 + 30,000 = 120,509.287

or

80,000 x 1.042 = 83,360

83,360 x 1.042 = 86,861.12

86,861.12 x 1.042 = 90,509.28704

90,509.28704 + 30,000 = 120,509.28704

Start with 80,000 then multiply by 1.042^3 (It’s to the power of three because it’s for three years) then add 30,000 because of your personal savings.

Justification

Reaching the goal 800,000 could come in different ways. If you chose the 1 year GIC you would get your money back quick in just one year. Although you could get more money much faster, in ways such as stocks. Stocks is a way to gain a lot quickly, but it also comes with potential risks such as if your stocks go down, you have the possibility in losing money rather than gaining. This is why I chose the three year GIC. It guarantees I will not lose anything, while still being able to get more money than the one year GIC. You also won’t need to care for this money too much, it will grow on its own. The GIC is non redeemable though, meaning you will not get your money back until three years later.

Group work questions

1. I didn’t get a chance to work with a group, but I did have a teacher and peers to help me with this assignment. It was quite nice to work with them because with the teacher it was very one on one so the instructions came very clearly and I could ask questions easily, and my peer was able to explain to me everything I had to do and show me visually.
2. If I was in a group I would be sharing me ideas with the group and my peers would also give ideas that I could also use to develop my own answers.
3. My teacher really guided me to the answer because I missed the class and I was able to use that to come up with my own reasonings.
4. I think I worked well with the group I had. I did my best on my part in understanding the assignment, and my teacher and peer was nice to show me the way. I would rate our team work a 4, because of this.

Core competency

I can ask and respond to questions to be an active, supportive listener

In this assignment I was able to do this because I was not here while they started this assignment, so I had to pay extra attention while I had a teacher explain to me what to do for each part of this assignment. Naturally, I had to ask questions because some of the parts in the assignment I missed so it was confusing sometimes.

When faced with ambiguity or setbacks, I… to advance the development of my ideas.

When faced with ambiguity or setbacks, I look at different ideas from others and ask for help if I need to. I use ideas from others to advance the development of my ideas.