Data and Solutions

3-year GIC

year 1- $40,000 x 1.042 = $41,680

year 2- $41,680 x 1.042 = $43,430

year 3 – $43,430 x 1.042 = $42,254

3-year stocks

year 1 -$40,000 x 1.075 = $43,000

year 2 – $43,000 x 1.075 = $46,225

year 3 – $46,225 x 1.075 = $49,691

GIC + stocks + $30,000 interest = $124,945

If there happens to be a bad year in stocks it would equal to $46,225 x 0.913 = $44,924

GIC + stocks with bad year + $30,000 = $120,178 and that is enough.

Justification

I think this is a very smart solution, it is a better idea to split all the money into separate plans to acquire more money. Although you gain the risk by putting half of the money into stocks it would still work and be successful if you have a bad year.

Collaboration Reflection

I worked well with my group, and I made an effort to collaborate my ideas and knowledge with the others around me. I also effectively communicated with the other member, ensuring everyone understood their roles and responsibilities. Overall, I believe that my work ethic and positive attitude made a valuable contribution to the success of the group project.

Core Competency Reflection

-I can understand and share information about a topic of interest in a clear, organized way. I can make my work easy to understand and simple to follow along, as well as following instructions as given.

-I ask and respond to questions to be an active, supportive listener. I can help those around me who are struggling to understand certain concepts.

-I think about what I am going to convey and to whom I will convey it to. I make sure my ideas are clear and can be understood by anyone.