Calculations

3 Year GIC

Year 1: 80000 x 1.042= 83360

Year 2: 83360 x 1.042 = 86,861.12

year 3 86,861.12 x 1.042 = 90509.28

Savings: 10,000 + 10,000 + 10000= 30,000

Total: 120509.28

Part 3- Justification

There is good and bad to everything, when it comes to Gic yes, it is guaranteed money, but it takes an extended amount of time. With stocks however you can get more money at a faster pase, but you can lose all of your money if the stock goes down. Now compare the 2 fast moneys but risky or slow money safe. in conclusion you can make more money with stocks but can lose all of it, and with gic you can make guaranteed money at a snail pase

Part 4- Collaboration and Contributions

I wasn’t not able to work with a group as I missed the week where we learnt how to do this stuff, but i was able to get the calculations done without a group. This project feels easier as I don’t have to worry about other people’s ideas and have to worry about their feeling, and other viewpoints. But this project isn’t nearly as fun without other people.

Part 5- Core Competency Reflection

(When I need to boost my mood or re-focus), I will drink some water or chew some gum, i find that the cold water helps me keep a fresh mind and remind me to relax and take it easy. Chewing gum help me stay focus as it gives me something easy which I can do while doing a bigger task. And it helps when you have a moment where you can’t think and instead of reaching for my phone, my brain is already chewing gum.

I can reflect on my thinking. I did this when I choose what I was going to do for this project, I was given 3 choses 1-year gic 3-year gic and stocks, I reflected on my thinking when I chose to do the 3-year gic. This could even effect choses in the future as might look into stocks and gic