Data and solutions: for option 1

calculations with a 3-year 4.2% non-redeemable GIC :

year 1: 80,000 x 1.042 = $83,360

year 2: 83,360 x 1.042 = $86,861

year 3: 86,861.12 x 1.042 = $90,509

calculations with a 1-year 3.5% non-redeemable GIC :

starting total of $80,000

year 1: 10,000 x 1.035 = $10,350

year 2: 10,350 x 1.035 + 20,000 = $30,712

grand total : $90,509 + 30,712 = 121,221

justification:

I chose this option because there is no chance of you losing any money in a GIC, unlike with stocks you have lots of risks and chances of losing money. The main downside with this option is that you can not access your money for the allotted time period without big fees. Another reason why i chose this option is because of my score on the risk tolerance quiz, the quiz told me that i am not a very big risk taker and most of the time i go with the safest option.

collaboration and contributions:

1. How did you find working with your group? I found the collaboration part of this project wasn’t the best because most of the group was either on their phones or doing different projects for other classes instead of contributions their ideas.

2. How did you contribute to the group? And how did others in the group contribute to your learning? I felt like I took the leadership role in the group by paying attention to the teacher when he was explaining what to do and actually being able to help others in the group who had questions. Most of the others in the group helped with finding the formulas of the calculations we needed to figure out.

3. Did you use any other solutions proposed by your group? Why or why not? I did not use any other solutions the group proposed because I was the person who came up with the solution, and I found it was the best one in this situation.

4. How would you rate your ability to collaborate with others in your group on a scale of 1-4 (1 not good; 4- excellent) I would rate it a 3 because after the first class when the teacher said he was going to take our phones away if we weren’t using them for learning purposes, most of the group started to pay attention and help the rest of the group.

core competency reflection:

1. If I notice …, that’s a sign that my group needs help and we can get support by… On the first day that we started this project, my group was very confused throughout the entire block. On the second day, I noticed that we were all still a bit confused so I asked the teacher for more help explaining what we needed to do. And by the end of the second day we understand the project way more.
2. I consider more than one way to proceed in an investigation... For this project the teacher gave us multiple options to chooses from to pay our down-payment. During class my group and I tried all of the different options to pay the down-payment and that is what help us find the best option for us.
3. I can work with others to achieve a goal… Our goal for this project was to find a way to reach our goal of being able secure the amount needed for a down-payment within three years. I worked with others while trying different methods to secure the amount needed for a down-payment. In the end we achieved this goal.
4. I can find it easy to be part of a group... Most of the time i find it very easy to be apart of a group, but sometimes when the group puts no effort in i find it very hard to the the task that we need to do. thats why i like to be in a group with people i already know and i know their work habits.