Data and Solutions
3 year 4.2% non-redeemable GIC
- 80,000 x 1.042 = 83360
- 83,360 x 1.042 = 86,861.12
- 86,861.12 x 1.042= 90,509.29
- 3rd year of GIC =90,509.29
- 3 years total savings = 30,000 (10,000 + 10,000 + 10,000)
- 90,509.29 + 30,000 = 120,509.29
Grand Total = 120,509.29
Justification:
I chose a 3-year (4.2% non-redeemable GIC) because it’s a much safer option. If I had chosen the 1-year GIC then I would not be able to reach my goal of 120,000. If I had chosen stocks, then it would have been much more of a risk to reach my goal because the stock market is not predictable and a one-year GIC wouldn’t get me to my goal.
Collaboration and Contribution:
(I can Statement Prompt) I missed a lot of work for this assignment but for the few days that I was there I did participate. It was kind of confusing but once we were shown a visual It was easier to understand. I don’t think that this is a strong suit in math for me but it’s nice to know about because it can maybe help me in the future.
Core Competency Reflection:
In discussions and conversations, I help to build and extend understanding by asking questions. It doesn’t make sense if I am in a situation where I’m confused, and I just sit there and do nothing about it. I will probably raise my hand and ask a question.
When it seems the good ideas just won’t come to me, I take a break to help calm myself or create space in my mind to help ideas eventually come to me. I usually listen to music because I don’t have to get up and do anything. I can just close my eyes until I have calmed down and, even if I want to continue listening while I’m doing my work, I can.
Some of the things I do to stay mentally and physically healthy include… limiting my screen time and time on social media. If I notice that I have been on my phone to much then I try to put it down because I know I may have something better to-do. Even if I don’t have anything else to do I can use that time to find something else to do. (ex:help my mom out or clean the house)
Collaboration Prompt:
I show others that I truly value their contributions by hearing and listening to their ideas. Sometimes in group work there are disagreements and arguments because of the fact that one person’s ideas are being ignored and there efforts are going to waste. I like to let people say all their ideas so that all of our contribution is shown and we can present as a group and the work is equal between everyone.