Data and solutions
calculations-GIC:
80,000*1.042=83,360
83,360*1.042=86,861.12
86,861.12*1.042=$90,509.287
calculations-savings:
80,000+0=80,000
83,360+10,000=93.360
86,861.12+20,000=106,861.12
90,509.287+30,000= $120,509.287
Excel graph
Justification
I went with a relatively low-risk option (3-year 4.2 non-redeemable GIC and savings account). This is one of the less profitable but safest solutions, in my opinion. A bonus is that you are guaranteed to reach your objective of $120,000; nevertheless, the desired amount will only be barely reached. Due to my low risk tolerance, I believe this to be a very good alternative for me. Because stocks can go up or down and are essentially unpredictable, I am not a fan.
Collaborations and contributions
Our group did a decent job while working together. Everyone was quiet at first, but we then divided into two groups and felt comfortable working together. My partner and I both provided a respectable quantity of calculations and ideas. Nevertheless, we didn’t come up with any other methods to achieve our goal. I rate our collaboration a 2.5 out of 4.
Core competency reflections
1) I show others that I truly value their contributions by actively listening and respecting their ideas
2) In discussions and conversations I help to build and extend understanding by asking questions and paying attention to others ideas
3) If the group is not productive we can talk about what we are confused about/how we can be more efficient to get things moving in the right direction
4) I can recognize different points of view and can disagree respectfully
