INSEAD MBA Criterion #4 Leadership Potential

This is the last  post in a  4-part series  that examines INSEAD MBA’s admission criteria.   What is leadership potential? INSEAD is not unique among MBA programs in desiring leadership potential in applicants. All do. It is unique in how it characterizes leadership and leadership potential. The adcom has a two-pronged view of leadership: factual (what you did, your experience that reflects leadership) and qualitative (the values, character, and vision that inform your leadership, and its nature, impact and significance). So, in this framework it’s not enough just to have impact or to drive change – it’s what kind of impact and why you pursue it; what specific change – from what to what and why. Let’s focus for a moment on the word â€Å"potential.† The adcom doesn’t just say â€Å"leadership† for the criterion. Potential is forward focused. You may have led a big project to success, but if your application indicates that you aren’t reflective, engaged, and interested in growth, your potential – future – leadership may be limited. So, this criterion must resonate with the other elements of your application to show (ideally) a mature, open, curious, intellectually agile, personally reflective nature. Such a nature will, when leading, provide quality leadership. Demonstrating leadership potential How do you show that you meet this criterion? First, obviously, present experiences (through example, anecdote, and resume points) that clearly portray your leadership roles to date. These may be formal (where you were a designated leader AND met the responsibilities of the role) or informal (where you identified the need for and stepped in to tactfully provide leadership in a given situation, e.g. resolving a conflict among teammates). In presenting these experiences, keep â€Å"quality† on the radar screen and strive to weave in aspects of the experience that include this dimension. Second, through essays, resume, interview, etc., discuss experiences that convey elements of leadership. For example, you might have maturely handled an ethical challenge that didn’t necessarily involve leadership, but still showed qualities, such as courage, moral compass, willingness to prioritize values, etc., that one wants in a leader. There are an infinite variety of such elements – they include things like ability to motivate and/or inspire people, ability to persuade, willingness to take a stand for a value or an idea, ability and/or willingness to make tough decisions and forthrightly address the consequences, openness to appropriate risk-taking, etc. Bring them to the foreground when you describe an experience in an essay. In the resume, sometimes you can work it in contextually. Third, I’ll mention a factor too little used by applicants IMHO. When a good opportunity presents itself, mention (in essays and/or interview), a leader you admire and from whose example of leadership you are learning and growing. It may be someone you know at work, or a figure out in â€Å"the world.† No need to go on at length about such exemplars – but devoting a couple of lines in an essay or a sentence or two in an interview to such a mention is a great way to show leadership potential: you are thinking about leadership, you resourcefully gain insight from prevailing circumstances and apply it to your own situation, and you have the grace to elevate another. Follow these steps and you are on your way to showing the INSEAD adcom that you are a great fit for the program. For personalized assistance that will help you get accepted to INSEAD, check out our MBA Application Packages.   I am always thrilled when I get an â€Å"I’m in at INSEAD!† email.  I welcome the chance to help you show you belong at INSEAD  and receive such an email from you in the future. Click here to get in touch. Looking for more INSEAD info?  Fill out the form below to register for our upcoming webinar,  Get Accepted to INSEAD, airing live on February 13, 2019. hbspt.forms.create({ portalId: "58291", formId: "d93ade3f-edd0-4bc5-a47e-3e3e5b9a033e" }); For personalized assistance that will help you get accepted to INSEAD, check out our MBA Application Packages.   ; Cindy Tokumitsu has advised hundreds of successful applicants, helping them gain acceptance to top MBA and EMBA programs in her 20 years with Accepted. She would love to help you too. Want Cindy to help you get Accepted? Click here to get in touch! Related Resources: †¢Ã‚  Leadership in Admissions, a free guide †¢Ã‚  4 Ways to Display Teamwork in Application Essays †¢ INSEAD MBA Essay Tips Deadlines

How to Write an IELTS Essay Sample?

How to Write an IELTS Essay Sample?The best way to learn how to write an ielts essay sample is by finding an essay writing service that will provide you with an sample that they believe is effective. It is best to speak with a professional as a client to see what they think. Some of these services are very difficult to find and may only be found through word of mouth.Doing a little research will also be a good idea to see what type of materials they have. You may want to check out their websites to see what types of assignments they have provided for students to complete.In this day and age it is important to know about different types of essays, and how they are written. There are different types of them depending on whether they are for short answer questions or long answer questions. You will need to choose an assignment that fits your style and needs.Another thing to consider is if you would like to do your own research, or find some of the original materials yourself. The reason for this is because there are so many sources of this information available online.As a student, this can help to make sure that you are not cheating by using an essay sample that is actually from someone else. This is actually more beneficial for you because you can write your own and make changes as needed.Another aspect that you will want to consider is the amount of time it will take to prepare the sample for your student. Since this material is so detailed, it takes time to study for and try to understand what the other student has written.If you are wanting to know how to write an ielts essay sample, then you should consider choosing a service that specializes in this. This is because it will save you a lot of time studying for your own as well as it will make it easier for you to get your students to follow along. As a teacher, it will be good to know how to write an ielts essay sample.

Customer Service Services And Services - 1232 Words

THE PRODUCT DESCRIPTION OF THE (INITIAL) SERVICE THE BUSINESS WILL BE BUILT The initial service that ShopOPS is built on, is a cloud-based Point-of-sale offering for retail and convenience store operators. The service is constructed to perform heavy processing for store operations in a multi-tenant cloud environment. Key operations would consist of credit card processing, B2B real-time transaction interfaces, back-office accounting and reporting and customer portal offerings for ecommerce services and mobile applications. In terms of equipment needed on premises, it could be the customers own provided equipment for POS process (Cash draw, tablet interface, receipt printer, barcode scanner). To engage in the convenience store market, a†¦show more content†¦Reduction of on-site equipment, drastically reduces POS and back office equipment footprint in stores Provides for distributive processing and access. Allows for larger retailers to access store information directly and in real-time without the need of costly network and custom interfaces. Provides for better onsite management, user-customizable dashboards and interfaces to see individual, regional or national store operations. Easier and faster standards compliance (ability to comply with PCI-DSS, SOX, EMV and other regulatory controls and requirements) . INITIAL PRICING MODEL Standard Retail Basic - $70.00/month (1-register, 5 users, unlimited services, single-site operation) Advanced - $99/month (1-register, unlimited users, unlimited services, single-site operation) Multi-outlet - $250/month (2-registers, unlimited users, unlimited services, unlimited customers) Additional Registers – ($45/month per unit) Convenience Store Retail Basic - $99.00/month (1-register, 1-dispenser/gateway Interface (16 fueling points), 5 users, unlimited services, single-site operation) AdvancedShow MoreRelatedCustomer Service Services And The Service Sector2162 Words   |  9 PagesSince+ the global economy embraced customer service, issues regarding levels of customer service have become more prominent in service organisations. Even now there are organisational managers with no training or knowledge of how organisations in the service sector require a high level of customer service. This is ignorance of the fact good customer service can create a competitive advantage; increase profit; efficiency; and increase staff and customer retention and satisfaction. Based on comprehensiveRead MoreCustomer Service Services At The Service Provider Essay1853 Words   |  8 PagesLucas (2009), great customer service is presented by knowledgeable, capable, and enthusiastic employees who deliver products and services to their customers and create consumer loyalty. From that point, it could be claimed that the best employees will build the best service which surpass customer exp ectation and the result of that action is when customer repurchase or talk to another potential customers. In short, customer service is the action when service provider gives customer what they desire.Read MoreCustomer Services And Principals Of Customer Service1864 Words   |  8 Pagesthis paper we will look at outrageous customer services and three principals of customer service. We will also cover intergrading principals of customer service personally and professionally. Often in this paper we will use Costco as a model to explore the concepts of customer services. The goal of this paper is to get a clear understanding of what outrageous customer service is and what it looks like in action through the Costco experience. A Wholesale Customer In the article â€Å"What Makes CostcoRead MoreCustomer Service For Services For Yelp Essay2248 Words   |  9 Pages Customer Services for Yelp Shuo Yang California Lutheran University Customer Services for Yelp Introduction In 2004, former PayPal employees, Russel Simmons and Jeremy Stoppelman founded Yelp (Jeffrey, 2007). Then Yelp rapid grow up and become a famous worldwide enterprise as well as the largest local online reviews site of the American. Yelp mainly provides online services through Yelp.com and the Yelp mobile app. All Yelp users are not only customers but also reviewers. AsRead MoreCustomer Service1275 Words   |  6 PagesProviding customer service Since our restaurant can exists only because of customers, and in particular repeat customers who voluntarily choose to return here and spend their money and time to our food, beverage and service. Without our customer we don’t have a restaurant, they are the only reason we are here. As a result, taking care of our customers is our highest priority, in fact a privilege, never an interruption. At our restaurant the customer always comes first. b. Dealing with customer complaintsRead MoreQuestions On Customer Service And Customer Services1913 Words   |  8 Pagesthe main problems a company may has on the customer services, it point out that many companies may issue on dealing with customers feedbacks thus it lead enterprise loss their market share because of bad performance on customer services and they may give the bad comments on company’s products and services. Therefore, they need to establish a system ii. Body 1 It will analyze several problems a company might have, a company may hard to collect customers’ feedback and manage it, and then some companyRead MoreCustomer Service1186 Words   |  5 Pagessome companies aim to look after their customers well, ensuring that the customer is at the heart of their business and everything they do. In marketing terms this is called being customer focused. It is important to realise that customers can take their business anywhere they want to and if they are not satisfied they will take their business elsewhere. Therefore, it is very important to understand who our customers are, their expectations of the service they experience and how that effects futureRead MoreCustomer Service1387 Words   |  6 Pagesunderstanding of customer service for Diploma in Customer Service Level 3. Learning Outcome 1: Be able to follow their organisation’s accepted customer service language Assessment Criteria: 1.1 Communicate to customers their organisation’s service offer, how it balances organisational and customer needs and how it meets customer expectations 1.2 Compare the service offers of commercial, public sector and third sector organisations and how they each meet customer expectations 1.3Read MoreCustomer Service2589 Words   |  11 Pagesstrong trusting relationships with customers. Quality customer service is not only one of the competitive advantages, in many areas it has become the only competitive advantage. Quality of service is the new standard by which customers judge the quality of the product. Customer service is a kind of sale, because the good service makes the customer to come to you and to buy from you more often. According to the research of American Management Association, regular customers who buy from you again and againRead MoreCustomer Service2488 Words   |  10 PagesCustomer Service Research Paper Before I get into further analysis of my own personal experience, I am going to explain about different characteristics that are involved in customer service. Most businesses will tell you that quality customer service is the keystone to success. An essential component of outstanding customer service is the possession of a great staff. Larger companies may be weighed down by employee handbooks that specify the customer service guidelines. Independent, smaller businesses

Definition and Examples of Autobiography

An autobiography is an account of a persons life written or otherwise recorded by that person. Adjective: autobiographical. Many scholars regard the Confessions (c. 398) by Augustine of Hippo (354–430) as the first autobiography. The term fictional autobiography (or pseudoautobiography) refers to novels that employ first-person narrators who recount the events of their lives as if they actually happened. Well-known examples include David Copperfield (1850) by Charles Dickens and Salingers  The Catcher in the Rye (1951). Some critics believe that all autobiographies are in some ways fictional. Patricia Meyer Spacks has observed that people do make themselves up. . . . To read  an autobiography is  to encounter a self as an imaginative being ( The Female Imagination, 1975). For the distinction between a memoir and an autobiographical composition, see memoir  as well as the examples and observations below.   Etymology From the Greek, self life write Examples of Autobiographical Prose Imitating the Style of the Spectator, by Benjamin FranklinLangston Hughes on HarlemOn the Street, by Emma GoldmanRitual in Maya Angelous Caged BirdThe Turbid Ebb and Flow of Misery, by Margaret SangerTwo Ways of Seeing a River, by Mark Twain Examples and Observations of Autobiographical Compositions An autobiography is an obituary in serial form with the last installment missing.(Quentin Crisp, The Naked Civil Servant, 1968)Putting a life into words rescues it from confusion even when the words declare the omnipresence of confusion, since the art of declaring implies dominance.(Patricia Meyer Spacks, Imagining a Self: Autobiography and Novel in Eighteenth-Century England. Harvard University Press, 1976)The Opening Lines of Zora Neale Hurstons Autobiography- Like the dead-seeming, cold rocks, I have memories within that came out of the material that went to make me. Time and place have had their say.So you will have to know something about the time and place where I came from, in order that you may interpret the incidents and directions of my life.I was born in a Negro town. I do not mean by that the black back-side of an average town. Eatonville, Florida, is, and was at the time of my birth, a pure Negro town--charter, mayor, council, town marshal and all. It was not the first N egro community in America, but it was the first to be incorporated, the first attempt at organized self-government on the part of Negroes in America.Eatonville is what you might call hitting a straight lick with a crooked stick. The town was not in the original plan. It is a by-product of something else. . . .(Zora Neale Hurston, Dust Tracks on a Road. J.B. Lippincott, 1942)- There is a saying in the Black community that advises: If a person asks you where youre going, you tell him where youve been. That way you neither lie nor reveal your secrets. Hurston had called herself the Queen of the Niggerati. She also said, I like myself when Im laughing. Dust Tracks on a Road is written with royal humor and an imperious creativity. But then all creativity is imperious, and Zora Neale Hurston was certainly creative.(Maya Angelou, Foreword to Dust Tracks on a Road, rpt. HarperCollins, 1996)Autobiography and TruthAll autobiographies are lies. I do not mean unconscious, unintentional lies; I mean deliberate lies. No man is bad enough to tell the truth about himself during his lifetime, involving, as it must, the truth about his family and friends and colleagues. And no man is good enough to tell the truth in a document which he suppresses until there is nobody left alive to contradict him.(George Bernard Shaw, Sixteen Self Sketches, 1898)Autobiography is an unrivaled vehicle for telling the truth about other people.(attributed to Thomas Carlyle, Philip Guedalla, and others)Autobiography and Memoir- An autobiography is the story of a life: the name implies that the writer will somehow attempt to capture all the essential elements of that life. A writers autobiography, for example, is not expected to deal merely with the authors growth and career as a writer but also with the facts and emotions connected to family life, education, relationships, sexuality, travels, and inner struggles of all kinds. An autobiography is sometimes limited by dates (as in Under My Skin: Volum e One of My Autobiography to 1949 by Doris Lessing), but not obviously by theme.Memoir, on the other hand, is a story from a life. It makes no pretense of replicating a whole life.(Judith Barrington, Writing the Memoir: From Truth to Art. Eighth Mountain Press, 2002)- Unlike autobiography, which moves in a dutiful line from birth to fame, memoir narrows the lens, focusing on a time in the writers life that was unusually vivid, such as childhood or adolescence, or that was framed by war or travel or public service or some other special circumstance.(William Zinsser, Introduction, Inventing the Truth: The Art and Craft of Memoir. Mariner Books, 1998)An Epidemical Rage for Auto-Biography[I]f the populace of writers become thus querulous after fame (to which they have no pretensions) we shall expect to see an epidemical rage for auto-biography break out, more wide in its influence and more pernicious in its tendency than the strange madness of the Abderites, so accurately described by L ucian. London, like Abdera, will be peopled solely by men of genius; and as the frosty season, the grand specific for such evils, is over, we tremble for the consequences. Symptoms of this dreadful malady (though somewhat less violent) have appeared amongst us before . . ..(Isaac DIsraeli, Review of The Memoirs of Percival Stockdale, 1809)|The Lighter Side of Autobiography- The Confessions of St. Augustine are the first autobiography, and they have this to distinguish them from all other autobiographies, that they are addressed directly to God.(Arthur Symons, Figures of Several Centuries, 1916)- I write fiction and Im told its autobiography, I write autobiography and Im told its fiction, so since Im so dim and theyre so smart, let them decide what it is or isnt.(Philip Roth, Deception, 1990)- Im writing an unauthorized autobiography.(Steven Wright) Pronunciation: o-toe-bi-OG-ra-fee

Career Essay - 1314 Words

Automotive Service Technicians And Mechanics Career Essay Iven Garcia GUST 1270 Professor Adams 30 November 2009 The career that I have literally chosen is the automotive service technician and mechanics career. The reason why I chose this career it’s because†¦ Well actually I have plenty and many reasons to choose from because I am very passionate about this career and I have lived through it my entire life. One reason is that Auto Mechanics is because to me it’s an interesting field to me. I decided to explore the topic a little more to get a better understanding of what it would take to become a successful automotive technician . I have lived through the auto mechanics field pretty much all through my life. Well†¦show more content†¦The field of auto mechanics reveals a pretty long history. Specialized schooling education and a strong career objectives for anyone that would like to choose this field as a career. There are certain types requirements or abilities that you supposed or have to get or have in order to become an auto mechanic technician. A student ca n get the basics of automobile repair by taking a vocational class in high their high school time. The course is not really considered training but it gives you a basic information and knowledge of what an actual auto mechanic does. To be considered and known as a qualified auto mechanic technician you will have to complete and finish training at a post secondary school or a community college. Many post secondary schools for graduates have six months to one year of strong , helpful needed intense training. The community college most of the time offers an associate degree for this field and it most of the time takes about two years to complete the coursework and other things necessary. With this kind of type of training you are getting the most up to date training that you will indeed need when you are using with computer systems to detect problems with cars, like for example electrical problems that you can not fix your self without the help of an electronic computer. Another form o f training involves you with working as anShow MoreRelated Balancing A Career and A Family Essay1423 Words   |  6 PagesBalancing A Career and A Family Abstract Regardless of where they are in their careers, working mothers have a tough time achieving balance between work and family. Generally, women take on or are given more responsibility for their homes than are men, leading to frustration and exhaustion. In this paper we will address some of the issues involved in balancing career and family. This paper will provide some solutions for the most common problems arising from todays busy schedules, and provideRead MoreEssay Analyzing Career Theories964 Words   |  4 Pagesperson is based on their career. In our society, it would behoove us to look at the path that leads to becoming a doctor instead of a drug dealer. Application of career theories to my own life allows for analyzing past and future career decisions. Holland’s Theory of Careers states that one’s vocation is an expression of self, personality, and way of life. There is an indisputable and fundamental difference in the quality of life one experiences if they choose a career one truly enjoys, versusRead More What Makes A Successful Career Essay881 Words   |  4 Pages The reasons why people succeed in their careers are probably as numerous as the number of successful people. When we begin to think about the qualities these people possess, it becomes apparent that we can classify or catagorize them into a few specific groupsamp;#8211;those who really enjoy their work, those who are obsessed with their work (they either want to be the best; or have a fear of failure), those who are blessed with exceptional talent in their field, and those who have planned theirRead MoreCareer Counseling Over the Lifespan Essay3622 Words   |  15 PagesAbstract Career counseling over the lifespan has more than an occupational focus, it deals with the person’s entire being with a vision that includes one’s lifespan. Career counseling takes into consideration character development, character skills, life roles, individual life and work history, goals, and obstacles. A career counselor not only assists a client with a career plan, but also with a life plan. This paper focuses on two categories of career counseling. The first focus is the historyRead MoreCareer Scavenger Hunt Essay1755 Words   |  8 Pagesï » ¿Career Scavenger Hunt Instructions Part I: NCDA Scavenger Hunt 1. What is the relationship of the NCDA to the American Counseling Association? The relationship of the NCDA to the American Counseling Association is that the â€Å"NCDA is a founding division of the American Counseling Association and collaborates with the ACA to jointly represent the interest of counselors in congress and in the national legislative process† (NCDA, 2015). 2. What is the purpose of the NCDA? The purpose of the NCDA isRead MoreEssay on Miles Franklins My Brilliant Career1284 Words   |  6 PagesMiles Franklins My Brilliant Career Topic: Give a detailed analysis of a key scene or passage from My Brilliant Career by Miles Franklin. The focus and essence of My Brilliant Career by Miles Franklin is centred on the relationships and interactions of Sybylla Melvyn (the key character of the novel), towards other characters. The ways in which she reacts to different people and why she reacts in a particular manner, are perhaps more crucial and intriguing to the reader, than any distinctRead MoreCareer As An Individual Phenomenon3154 Words   |  13 PagesWhilst a great body of careers theory literature leans towards â€Å"career as an individual phenomenon† (Schneidhofer, Latzke Mayrhofer, 2015), careers cannot be isolated from other factors. Grandjean (1981, p.1057) places careers at â€Å"the intersection of societal history and individual biography†. Changes in context do impact on careers, however, the extent to which they do so in isolation is difficult to measure. Context has an important part to play, offering careers â€Å"a set of external structuresRead More Sports Journalism Essay1872 Words   |  8 Pages Sports Journalism nbsp;nbsp;nbsp;nbsp;nbsp;For my career research paper I have chosen to delve into the world of the sportswriter, and take a closer look at what that occupation may hold for myself. I have chosen to research this form of journalism because I consider myself to be a sports fanatic, and would very much enjoy spending the rest of my working days writing about the conditions in the world of sports. During the last year or so I have taken a period of time everyday to relax and readRead MoreCareer Essay : A Career As A Career1256 Words   |  6 PagesI have had many jobs throughout my life but now I am with an amazing career. Through a crazy set of events over my life; I was introduced to archaeology. My jobs have consisted of being a dancer, working in food establishments, a cashier, a sales person, a daycare teacher, a school bus driver, a church secretary and owning my business. These jobs may not have had a direct influence on my current career choice but they have all made me the p erson I am today. In most of my jobs I have pushed myselfRead MoreCareer Essay - Career Exploration1353 Words   |  6 PagesCareer Exploration Essay As a child, I was always told that I could become whatever I wanted to be. I dreamt of becoming an astronaut, orbiting around Earth or an airplane pilot, flying to different parts of the world. There were may choices I had in mind but they all seem to have a risk factor to them. I wanted to do something that involved little chances of risk and also be able to live comfortably. That is when I decided to become an orthodontist. The field of orthodontics has many challenges

Evil Laws Comparative Essay on “the Crucible”

Evil is the force in nature that governs and gives rise to wickedness and the sin that harms even the holiest of people. In â€Å"The Crucible† by Arthur Miller, the nature of evil is revealed through the corruption of reverend Parris which ultimately leads to devastation of society and reverend Hales good intentions. During 1692 in Salem, Massachusetts, the witch trials begin as girls who were caught dancing in the forest pretend that they are under the influence of the devil. When the court is introduced in Salem many innocent people get accused of witchcraft so that the accusers can simply satisfy their own desires. Although both Parris and Hale are spiritual leaders, Hale shows integrity as he sticks for what his goal is, whereas Parris†¦show more content†¦I dare not step outside at night† (128). Here, even when Parris is almost killed due to his lack of integrity, he still does not admit that the girls are lying. Furthermore, this occurs after Abigail stea ls his money, but he never admits that it is his fault, proving his lack of integrity. On the other hand, both Parris and Hale might be spiritual leaders but Hale shows he is heroic as he attempts to fulfill his obligations. Throughout the play Hale shows integrity because he is looking to find justice in the court no matter what it takes. During the courts discussion â€Å"in all justice, sir, a claim so weighty cannot be argued by a farmer. In God’s name, sir, stop here; send him home and let him come again with a lawyer† (99). Here Hale shows integrity because he is standing up for what he believes is correct; justice. Hale wants John Proctor to go back home and get a lawyer for the court so that he has a fair chance to save his wife. Furthermore, by the end of the play Hale tries one more time to create justice in Salem as he is talking to Danforth â€Å"There is blood on my head! Can you not see the blood on my head!!† (131). Here Hale is experiencing heavy guilt because before he had signed many peoples death warrant and now he has realized that there was never any witchcraft in Salem. In addition, Hale shows integrity as he tries to fix what he has done wrong. Therefore, reverend Parris is too corrupt to admit his evil actions that destroys Salem while reverend Hale

Time Value of Money - 712 Words

TVM Assignment 1. $5,500 deposited four years ago has grown to $7,000. What semiannual compounded rate of interest has the bank been paying you? PV = 5,500 N = 4 x 2 = 8 Pmt = - FV = 7,000 I = 3.06% 2. The Costanza Resort borrowed $125,000 from the Ross Bank to pay for a new air conditioning system. The loan is for a period of 5 years at an interest rate of 10% and requires 5 equal end-of-year payments that include both principal and interest on the outstanding balance. What will be the outstanding balance after the third payment? PV = 125,000 N = 5 I = 10% Pmt =$32,974.68 The balance after the third payment will be $57,228.79 FV = - 3. Suppose you have borrowed $170,000 to buy a new home. You†¦show more content†¦You are considering the purchase of a new car. The sticker price is $19,500 and you have $5,000 to put toward a down payment. If you can negotiate a nominal annual interest rate of 6.5% and you wish to pay for the car over a 4-year period, what are your monthly car payments? PV = 19,500 – 5,000 = 14,500 N = 4 x 12 = 48 I = 6.5/12 = .5417 Pmt =$343.86 FV = - 9. Susan just put $11,000 into a new savings account, and she plans to contribute another $18,000 one year from now, and $45,000 two years from now. The savings account pays 4% annual interest. With no other deposits or withdrawals, how much will she have in the account 10 years from today? PV = 11,000 PV =$11,440 + 18,000 = 29,440 PV = 30,617.60 + 45,000 = 70,617.60 I = 4% I = 4 I = 4% N = 1 n = 1 N = 8 Pmt = - pmt = - pmt = - FV = $11,440 FV = $30,617.60 FV = $96,645.06 10. Recently, Jerry and George each bought new cars. Both received a loan from a Chemical bank with a nominal interest rate of 9% where payments are made at the end of each month, and they both pay the same monthly payment. Jerry’s loan is for $17,000; however, his loan matures at the end of 4 years (48 months), while George’s loan matures in 5 years (60 months). After 48 months Jerry’s loan will be paid off, but what will be the remaining balance on George’s loan? Jerry George PV = 17,000 PV = $20,379.26 The remainingShow MoreRelatedTime Value of Money1028 Words   |  5 Pagestoward understanding the relationship between the value of dollars today and that of dollars in the future is by looking at how funds invested will grow over time. This understanding will allow one to answer such questions as; how much should be invested today to produce a specified future sum of money? Time Value of Money In most cases, borrowing money is not free, unless it is a fiver for lunch from a friend. Interest is the cost of borrowing money. An interest rate is the cost stated as a percentRead MoreTime Value of Money1033 Words   |  5 PagesTime Value of Money (TVM), developed by Leonardo Fibonacci in 1202, is an important concept in financial management. It can be used to compare investment alternatives and to solve problems involving loans, mortgages, leases, savings, and annuities. TVM is based on the concept that a dollar today is worth more than a dollar in the future. That is mainly because money held today can be invested and earn interest. A key concept of TVM is that a single sum of money or a series of equal,Read MoreTime Value of Money967 Words   |  4 PagesTime Value of Money The time value of money relates to many activities and decision in the financial world. â€Å"Understanding the effective rate on a business loan, the mortgage payment in a real estate transaction, or the true return on an investment depends on understanding the time value of money† (Block, Hirt, 2005). The concept of time value of money helps determine how financial assets are valued and how investors establish the rates of return they demand. Many different types of companiesRead MoreTime Value of Money2180 Words   |  9 PagesFinance Ââ€" Time Value of Money We earn money to spend it and we save money to spend it in the future. However, for most people spending money in the present time is more desirable since the future is unknown. We can gratify the desire to spend money today rather than in the future by knowing the basic law in finance Ââ€" time value of money. This means that a dollar today is worth more than a dollar at some time in the future. Unfortunately, people very often want to buy things at the present time whichRead MoreTime Value of Money3904 Words   |  16 PagesTime Value of Money Problems 1. What will a deposit of $4,500 at 10% compounded semiannually be worth if left in the bank for six years? a. $8,020.22 b. $7,959.55 c. $8,081.55 d. $8,181.55 2. What will a deposit of $4,500 at 7% annual interest be worth if left in the bank for nine years? a. $8,273.25 b. $8,385.78 c. $8,279.23 d. $7,723.25 3. What will a deposit of $4,500 at 12% compounded monthly be worth at the end of 10 years? a. $14,351.80 b. $14,851.80 c. $13,997.40 d. $14Read MoreTime Value of Money5284 Words   |  22 Pages12/9/2012 Chapter 9 The Time Value of Money 1 Chapter 9- Learning Objectives ïÆ' ¼ Identify various types of cash flow patterns (streams) that are observed in business. ïÆ' ¼ Compute (a) the future values and (b) the present values of different cash flow streams, and explain the results. ïÆ' ¼ Compute (a) the return (interest rate) on an investment (loan) and (b) how long it takes to reach a financial goal. ïÆ' ¼ Explain the difference between the Annual Percentage Rate (APR) and the Effective Annual RateRead MoreTime Value of Money2092 Words   |  9 PagesTime Value of Money The time value of money (TVM) or, discounted present value, is one of the basic concepts of finance and was developed by Leonardo Fibonacci in 1202. The time value of money (TVM) is based on the premise that one will prefer to receive a certain amount of money today than the same amount in the future, all else equal. As a result, when one deposits money in a bank account, one demands (and earns) interest. Money received today is more valuable than money received in the futureRead MoreTime Value of Money2124 Words   |  9 PagesTime Value of Money: Simple Interest versus Compound Interest Outline I. Applications of Time Value of Money 1.1 Example One 1.2 Example Two 2. Interest 2.1 What is Interest? 2.2 Three Variables of Interest 1. Principal 2. Interest Rate 3. Time 2.3 Why is Interest Charged? 3. Simple Interest 3.1 What is Simple Interest? 3.2 Simple Interest Formula 4. Compound Interest 4.1 What is Compound Interest? 4.2 Compound Interest Formula Read MoreTime Value of Money and Present Value1154 Words   |  5 Pagescollege 15 years from today and the other will begin 17 years from today. You estimate your children’s college expenses to be $23,000 per year per child, payable at the beginning of each school year. The annual interest rate is 5.5 percent. How much money must you deposit in account each year to fund your children’s education? Your deposits begin one year from today. You will make your last deposit when your oldest child enters college. Assume four years of college Solution: Cost of 1 year atRead MoreTime Value of Money Essay708 Words   |  3 PagesTime Value of Money Project Show all your work! Name _________________ 1. If Mrs. Beach wanted to invest a lump sum of money today to have $100,000 when she retired at 65 (she is 40 years old today) how much of a deposit would she have to make if the interest rate on the C.D. was 5%? a. What would Mrs. Beach have to deposit if she were to use high quality corporate bonds an earned an average rate of return of 7%. b. What would Mrs. Beach have to deposit if she