Data And Solutions
Year 1=80000 x 1.042 = 83,360
year 2=year 1 x 1.042 = 86,861
year 3 = year 2 x 1.042 = 90,509
Savings= 10,000+10,000+10,000=30,000
Total= 30,000+90,509=120,509
Justification
Risks- A safe and secure investment with very little risk. You don’t have to worry about losing your money because it is guaranteed. This suits me well because I am not the kind of person who likes to take risks with a lot of money.
Strengths- GICs are one of the safest investment options for Canadians because returns are guaranteed.
Weaknesses- You’ll need to tie up your money for the entire term if you want to get the full return
Collaboration and Contributions
- My group was quiet, but working with them was good
- I contributed to the group by researching what a GIC is. The other people in my group didn’t contribute to my learning much, but they were being helpful at times.
- No, because my group did not give much info.
- 2
Core Competency Reflection
- I can ask and respond to questions to be an active, supportive listener.
- I can work with others to achieve a goal.
- I can identify and describe my qualities.
- I can take pride in my work and myself.
I sometimes ask questions when I’m stuck, and I am a supportive listener. I worked with Mr. Ruditsch, and he helped me find the formula to this equation. I was able to identify the answer to this math problem, and I took pride in my work and myself.