I Am Not Esther Essay

In the content ‘I am not Esther’ composed by Fleur Beale a character I loved was Kirby Greenland. I enjoyed Kirby on the grounds that she showed me the subjects of dependability, trickiness and your very own feeling character. I enjoyed Kirby in light of the fact that she had encounters a great deal of changes throughout her life. The most critical change was discovering her own way of life as she developed and created as a young person. She was constantly resolved to discover her mom in any event, when it felt like there was a block divider toward the stopping point. I likewise preferred Kirby in light of the fact that she remained consistent with who she truly is in any event, when she had to be somebody who she truly isn’t and furthermore Kirby is additionally mindful and consistently there in the event that somebody needs her. I am not Esther is about a caring mother and little girl relationship destroyed as a mother needed to desert her life and leave her life and moves to Africa, however later we finds that truly she is still in the nation yet in a psychological emergency clinic. Her little girl has been advised to remain with family members that he has never known about however they are no customary family, as they are individuals from a severe, strict clique. They have changed her name from Kirby to Esther and compelled to follow the serious arrangement of social measures by the older folks have made. They can't collaborate with the ordinary outside world as there is no TV, no radio, no paper and no mirrors. She is compelled to wear long, unobtrusive apparel. She has no clue where her mom is and is starting to scrutinize her own personality.

Understanding the Essay Samples and Their Importance

Understanding the Essay Samples and Their ImportanceKnowing the ways to use essay samples for your homework can help you answer more efficiently the school works and other related school requirements. This can also prove to be a helpful tool to you if you think about preparing the essays that will help you get ready for any exams or examinations that you have to pass. Through these ways, you can learn more about how to address all the required topics and facts so that you will know how to prepare the right way for the essays that you have to write for college admissions, school work, or anything else that you need to do.Using essays as the reference material is indeed one of the best options that you can use. It is effective and helpful. With this type of approach, you will always have the essay samples that you can refer to whenever you feel like writing. But using these samples only for studying and not doing your own research is definitely not a good thing. If you want to write th e most effective essay in the shortest time possible, you will need to take a little time and research for a great article on the internet.The basic topic of essays is not a very difficult thing to tackle, but you must know how to take things a little further to get it done the right way. For that, you can refer to the samples to do some research and find out what topic and examples you want to use. It will be more helpful for you to have this knowledge if you really want to give it a shot to write the essay that will be enough to make you more capable and knowledgeable for your school work.The essay samples can help you to prepare the most appropriate topic that you want to use. It is highly advisable for you to consider that you need to compose a paper that will fit well with the theme of the school or the college where you are going to take the honors classes. It will also be a good idea to go online and look at the different topics and the sample essays to see how they are made and how they can be used in your particular requirement.While browsing through the different samples and the samples you have already done, you will notice that most of them are designed in a way that can provide you with more information and insight on the topics you will be writing about. This is great for the beginners. It is a fact that there are some who want to try out a certain topic to gain some experience on how to write.Through the help of the certain samples, you will find out what the general process is all about. It can be helpful for the beginners to check some of the samples to get an idea of how they are created and how they can be used. Some of the essay samples are very advanced and require a lot of research in order to be able to solve the mysteries and the difficulties involved in writing a clear and professional-looking article.In addition, the essay samples are beneficial for the students who have been performing well in the school. It is good to have some kind of reference in case you were stuck in the dilemma of how to answer the question that you had. This can make you know the right way to answer all your doubts about your assigned topic so that you can finally gain the confidence to get to write a great essay for your school work.These are just some of the reasons why you should learn about the advanced version of the essay samples. Always remember that you should always choose the one that you are comfortable with. And do not forget to use your creativity so that you can be able to come up with something more creative than what you are currently doing.

Should Drug Testing Welfare Recipients Essay - 1707 Words

The use of drugs is an immense problem in today’s society. The big question is, is it a problem within the welfare system? Drug use isn’t just a problem of poverty; it’s found among all groups and classes. As said in Jamelle Bouies article, The Myth of Drug Use and Welfare, â€Å"The myth of welfare recipients spending their benefits on drugs is just that—a myth. And indeed, in Utah, only 12 people out of 466—or 2.5 percent—showed evidence of drug use after a mandatory screening.† Drug testing welfare recipients is something many people have different views on. It can cause controversy; some people think we should drug test welfare recipients while others disagree. Drug testing welfare recipients has many negative outcomes that would come along with it. We should be more focused on trying to get the people back on their feet rather than finding more problems to implicate them with. Mandatory drug testing for welfare benefits is unfair and immoral and it should not happen within the welfare system. It is unconstitutional, it will cost more money than it will save us, and we should be treating drug addiction and abuse as a disease. Substance abuse issues have long been part of public assistance policy discussions. States have proposed drug testing of applicants and recipients of welfare benefits since federal welfare reform in 1996. In more recent years, almost all states have proposed some form of drug testing for applicants of welfare. The likelihood that drug testing wouldShow MoreRelatedShould Drug Testing Welfare Recipients?1679 Words   |  7 Pageswho test positive for drugs should be able to receive welfare. It was an argument that flooded social media, arguments filling comments with opinions. It is a subject that continues to be discussed within our peer groups, our communities, and our states. This paper will discuss the opinions of individual’s within the country, the beneficial factors of drug testing welfare recipients as well as the unbeneficial factors, as well as who decides if drug testing welfare recipients goes into effect or notRead MoreDrug Testing Welfare Recipients Should Not B e Drug Tested911 Words   |  4 PagesDrug Testing Welfare Recipients To test or not to test has been has been the question at hand for many states that are dealing with whether or not to pass the law that welfare recipients should or should not be drug tested in order to receive assistance from the government. Florida was the first state to mandate the law in 2011 and thereafter twenty four other states in the last year have also passed this law with our own state of Oklahoma being one of them. Although alcohol is legal it is abusedRead MoreGovernment Should Not Drug Testing Welfare Recipients3447 Words   |  14 Pages Public welfare is the term which stands for the variety of tax-supported programs that provide cash assistance or services to residents who are not able to financially take care of themselves (Hansan, 2011). This program was started in the 1930’s during the Great Depression. There are several types of welfare including health care, food stamps, child care assistance, cash aid, and housing assistance. Medicaid is considered to b e one of the welfare programs; it is a medical care that provides cashRead MoreTexas Should Adopt Drug Testing Policy For Welfare Recipients996 Words   |  4 PagesThis proposal points out how Texas should adopt drug testing policy for welfare recipients. We researched the state of Oklahoma, its efforts to improve its well-being, the decreased amount of welfare recipients received while increasing employment and the welfare program abilities. Texas is currently reopening this Bill and reconsidering this proposal for drug testing all welfare recipients. This will allow all of Texas welfare recipient’s access to different programs for personal improvement, jobRead MoreDrug Testing : A Controversial Issue Right Now1439 Words   |  6 PagesRUNNING HEAD: Mandatorily Drug Testing Welfare Recipients Does More Harm Than Good Mandatorily Drug Testing Welfare Recipients Does More Harm Than Good Clare M. Pitlik Marist High School Author Note First paragraph: Introduction to history of drug testing welfare recipients Second paragraph: Explains why drug testing welfare recipients is unconstitutional Third paragraph: Explains why drug testing welfare recipients is costly Fourth paragraph: Rebuttals Fifth paragraph:Read MoreWelfare Drug Testing Essay1383 Words   |  6 PagesWelfare Drug Testing Trevor Brooks, SOC 110 11/09/2011 In today’s America, government aid is highly depended on. The US government has spent $498 billion dollars this year on welfare alone. The state of Tennessee has an average of 250,000 residents on welfare and has $3 billion dollars this year alone. To help cut costs and help tax payers, 36 states, including Tennessee, have proposed a bill to drug test all welfare recipients. Since the beginning of the year, the welfare rateRead MoreMandatory Drug Testing Should Be Banned1365 Words   |  6 PagesIntroduction Mandatory drug testing has been and ongoing controversial issue over the most recent years. Mandatory drug testing has been subjected to students, athletes, and employees all over the country. However a lot of speculation has been made whether or not welfare recipients in particular should be subjected to mandatory drug testing. According to Besonen, programs such as welfare were created in the 1930s to temporarily aid struggling Americans to help get them back up on their feet. (BesonenRead MoreThe Welfare Recipients Should Not Be Drug Tested907 Words   |  4 Pagesstates that are dealing with whether or not to pass the law that welfare recipients should or should not be drug tested in order to receive assistance from the government. Florida was the first state to mandate the law in 2011 and thereafter twenty four other states in the last year have also passed this law with our own state of Oklahoma being one of them. Although alcohol is legal it is abused far more than marijuan a or hard core drugs, According to the 1996 study by the National Institute of AlcoholRead MoreWelfare Drug Testing Should Not Be Allowed1416 Words   |  6 PagesAmericans on welfare, and the U.S spending over 131 billion on welfare annually, not including food stamps. People have been looking for a way to cut the costs of welfare for many years. And then Welfare drug testing was proposed. At initial thought it seemed like a grand idea and a great way to cut costs and to eliminate all the drug users in the system, and because of that welfare drug testing has been put into action in 13 states. But, welfare drug testing is completely ineffective. Welfare drug testingRead MoreDrug Testing the Less Fortunate 1023 Words   |  4 PagesShould drug testing be a necessity for all state and federal aid programs? Drug testing welfare recipients have been a major issue across the United States for a few years now. Many indicate that if working class people are subject to a test prior to h ire or randomly during the duration of employment, why should those that don’t have to work for money not have the same treatment? The government estimated that random annual drug testing for welfare recipients would cost each taxpayer an additional

Aboriginal Rights in Canada Are They Being Denied

Aboriginal Rights in Canada: Are They Being Denied? When Canada was first inhabited by the First Nations people, the land was completely their own. They were free to inhabit and use the land in whichever manner they saw fit. However, since the arrival of the European settlers, the First Nations people have been mistreated in countless ways. They faced many issues throughout history, and are now facing even more serious problems in our modern society like having to endure racism, discrimination and social ridicule. Given what they already have to deal with, the last thing they should have to worry about is the denial of their rights which is a problem that Aboriginals have to contend with as well. Denial of Aboriginal rights is a very†¦show more content†¦The Sparrow test then outlines what might justify an infringement upon an Aboriginal right. An infringement might be justified if: †¢ The infringement serves a â€Å"valid legislative objective.† The court suggested a valid legislative objective would be conservation of natural resources, in which First Nations interest would come second only to that; †¢ â€Å"There has been as little infringement as possible in order to effect the desired result;† †¢ Fair compensation was provided, and, †¢ Aboriginal groups were consulted, or, â€Å"at the least†¦ informed.† (Hanson, Salomons) This case and the resulting test were instrumental in defining aboriginal rights. However, it was also very controversial as it confirmed one thing: aboriginal rights are not absolute and this has been highlighted in numerous cases whereby aboriginal rights being denied. Firstly, Aboriginals have been run out of their native lands and what little they have left is constantly being fought over by the Natives, the government and major corporations. Mr. Norman Slotkin, a lawyer for the Union of Ontario Indians, had this to say: â€Å"Most nations consider the notion of land to be an important one. But to Canada s aboriginal people, it is also a strong cultural symbol. Native identity is drawn from the land: It has been a form of subsistence, and an integral part of creation myths. For this reason, it is only withShow MoreRelatedConflict between Canada and the First Nations Essay1139 Words   |  5 PagesConflict between Canada and the First Nations has been going on since the Europeans first arrived. After their arrival the First Nations way of life was hindered severely; The Europeans brought many diseases that the Aboriginal people were unfamiliar with and had no resistance to, or cure for. â€Å"By the 16th century about 80% of Canadas Native population had died from the various diseases (Renneboog, 5).† The Europeans also came to Canada with the intentions of taking all of the land for themselvesRead MoreA Glimpse Of Canadian Inuit1651 Words   |  7 Pages A Glimpse of Canadian Aboriginals The Canadian native aboriginals are the original indigenous settlers of North Canada. They are made up of the Inuit, Metis and the First nation. Through archeological evidence old crow flats seem to the earliest known settlement sites for the aboriginals. Other archeological evidence reveals the following characteristics of the Aboriginal culture: ceremonial architecture, permanent settlement, agriculture and complex social hierarchy. A number of treaties andRead MoreCanada s Freedom And Multicultural Society924 Words   |  4 PagesCanada is widely known and celebrated as being a diverse, free, and unique nation. People from around the world have lived here for generations. Canada s freedom and multicultural society make it a beautiful country. But, it wasn’t always like this. Canada, one of the world’s biggest, most diverse countries started as a little British colony settled along the Great Lakes. However, it s growth into what it is today came at the cost of many sacrifices and hardships. We’ve all heard about theRead MoreSteps to Improving the Socioeconomic Conditions of the Aboriginal Population in Canada1177 Words   |  5 PagesThe aboriginal people live in reserves that are rich in minerals like oil and gas. Their traditional beliefs cannot allow them to benefit from an economic venture like mining. They believe that Mother Nature should and needs to be protected. In a bid to do so, they have rules against exploitation of nature like modern mining. This puts their traditional values at odds with economical developments like mining. This leaves them in a dilapidated state as poverty kicks in (Wilson and Macdonald, 2000)Read MoreThe Aboriginal People Of Canada1410 Words   |  6 PagesCanadian Native Aboriginals Introduction The Canadian native aboriginals are the original indigenous settlers of North Canada in Canada. They are made up of the Inuit, Metis and the First nation. Through archeological evidence old crow flats seem to the earliest known settlement sites for the aboriginals. Other archeological evidence reveals the following characteristics of the Aboriginal culture: ceremonial architecture, permanent settlement, agriculture and complex social hierarchy. A numberRead MoreIndigenous Voting Rights : The Indian Act Modified Section 77 ( 1 )1404 Words   |  6 PagesWhile it may be argued that voting rights was an inducement to avoid the collective rights, land claims and self-government that many were vocally pursing at the time, two separate organizations have confronted the issue of Indigenous voting rights which has impacted Indigenous communities today. There are three prominent examples that support my argument, firstly, because of the issues brought forward, The Indian Act modified Secti on 77(1) which regards voting in band elections. Secondly, in 1960Read MoreCanad A Diverse Country With People From Different Cultures Living Harmoniously Together1312 Words   |  6 PagesIntroduction Canada is a diverse country with people from different cultures living harmoniously together. Unlike nations such as America where people consider themselves as Americans first, almost a third of Canadians identify with another culture or ethnic group, in addition to being Canadian. Internationally, Canada is praised for its progressive, antiracist laws that support multiculturalism. While multiculturalism is something that is gaining currency in most countries around the world as aRead MoreEssay on Aboriginal People in the Canadian Military726 Words   |  3 Pages Throughout history, Aboriginals have been misunderstood and mistreated, despite their contributions to the country. There were many native men who gave their lives during the first World War and numerous native communities that did anything they could to help the war effort in Canada. Aboriginals contributed in many ways to serve their country during World War I. At the beginning of World War I, the Canadian government was hesitant about Aboriginals in the military. When the war broke in 1914Read MoreThe Idle No More Movement Essay1725 Words   |  7 PagesWithin the Aboriginal ways of knowing it is suggested that â€Å"land is the heart of Creation, a realm where humans are among a vast array of creatures† (Belanger, 2014, p. 7). In essence, the Aboriginal people have looked upon the earth as a source of resources that may be utilized but must be honored. This is further substantiated by Belanger when he states that â€Å"human beings began to measure their existence in terms of how well they ensured the land’s health and safety, as opposed to how well theyRead MoreThe Indian Act Of Aboriginal Affairs1633 Words   |  7 Pagesgoverned almost all aspects of Aboriginal life, from the nature of band governance and land tenure systems to restrictions on Aboriginal cultural practices. Most critically, the Indian Act defines the qualifications for being a â€Å"status Indian,† and as such has been the centerpiece of Aboriginal anger over federal attempts to control Aboriginal identity and membership. Since being passed by Parliament in 1876, the Indian Act has been the touchstone for Aboriginal affairs in Canada. Few documents in Canadian

An Outline of Jewish Beliefs about the Qualities of God Essay

An Outline of Jewish Beliefs about the Qualities of God In this essay I am going to discuss the Jewish beliefs about Hashem and what Jews think his qualities are. I will be using examples from a famous religious scholar called Maimonides and quotes from the Torah to give evidence for my answers. Jews believe that God is omnipotent, which is to have unlimited power or authority. In the 13 Principles of Maimonides, Jews believe that Point 7 shows Gods unlimited power over humans and the universe. The point explains how Moses experienced the presence of God through a burning bush and how God revealed his purpose for the Israelites to be taken to the Promised Land. This is a clear example of Gods†¦show more content†¦The point itself refers only to his total knowledge, giving Jews the belief that this is what he must be. Jews believe in Gods total omnipresence over the universe, this is to be present everywhere simultaneously. This is evident in Point 3 of the 13 Principles of Maimonides, as it clearly refers to Gods divine presence, called Shekhina. Yom Kippur can also be used as an example of Gods omnipresence as well as his total knowledge, as God would have to be everywhere to see a persons good or bad deeds so that he could weigh them up and judge that person in the book of life. Personal and Impersonal are two conflicting ideas on jewish beliefs of the qualities of God, as obviously they contradict each other, as one might believe a person can not be personal and impersonal at the same time. However, Jews believe that God is so powerful and divine that he can have these two conflicting characteristics. In the 13 Principles of Maimonides, there are many points that show Gods ablity to have personal relationships with human being. This is most blatant in points 6, 8 and 9, where it is obvious to Jews that God is capable of having relations with humans, as he has communicated through the prophets, given the Torah, the holiest book of Judaism, and he also punishes evil and rewards good of single human beings. Jews also see Gods personal side in Daniel 6, where he helps a single man,Show MoreRelatedModern Challenges Of The Middle East Around 4000 Years Ago Essay1612 Words   |  7 Pages(Brill, 2012). Abraham, who was Hebrew, is considered as the father of th e Jewish confidence since he propped up the focal thought of the rule that there is one God. During the period, numerous individuals worshiped numerous divine beings particularly in the Middle East. Abraham and his wife Sarah had confidence in God in spite of the fact that they were childless God guaranteed them they had a lot of the stars in the sky. God additionally guaranteed them they will live all alone and the commendationRead MoreThe First Explanation Of The Theory Of Education1470 Words   |  6 Pageseducation requires the ability to delay gratification for a later payoff which is a basic Jewish belief that this world is here only to prepare you for the world to come (Avos 4 Mishna 17). Jews value learning and the higher the education the greater the chances of economic success. There are many studies done on the amount of Jews who take advantage of achieving a good education. One such study found that Jewish veterans, after World War II, took advantage of the educational benefits of the GI BillRead MoreReligion 107 Sample Essay Outline1088 Words   |  5 PagesReligion 107 Sample Essay Outline (Use complete sentences to write your outline) I. Introduction †¨A. Background Information: Basic information about the issue and the position being argued. -Christianity and Buddhism are similar in many means when concerning what is wrong and right, and where poor and good decision place an individual. Reading both text’s proved this to be true, I will be arguing places of agreement between each religion. B. Thesis statement: States the position to be argued inRead MoreThe Qualifications of the Office of Deacon2087 Words   |  9 Pagesfor The Book of Acts BIBL 165-B01 LUO by Bonnie Andreucci July 1, 2014 OUTLINE PAGE 1. Introduction a. Thesis statement b. Purpose of this paper 2. Body a. A chosen life, why me, Lord? b. Qualities of a Deacon c. Ordered by God 3. Conclusion a. Is it worth it? 1. A deacon, a man, a chosen life and servant of God, yet still human and prone to failure; God has His intended appointment for His people. As a church deacon, you must standRead MoreImportance of Intercultural Communication to Ist7702 Words   |  31 Pagessources of conflict will be cultural. The people of different civilizations have different views on the relations between God and man, the individual and the group, the citizen and the state, parents and children, husband and wife, as well as differing views of the relative importance of rights and responsibilities, liberty and authority, equality and hierarchy. Such issues as (God, loyalty, family, community, state, allegiance, etc.) have been part of every culture for thousands of years. To betterRead MoreEssay on Womens Roles in Religion2728 Words   |  11 PagesReligions, Hinduism, Buddhism, Judaism, Christianity, and Islam to highlight how androcentric cultures have led to women’s diminished religious influence. I contend that women have been ostracized from religious hierarchies based on ancient cultural beliefs. Therefore, I will show that many misogynistic religious traditions have arisen primarily out of fear of female biology and subsequent attempts to control what was not understood. I believe that our collective human knowledge has advanced far beyondRead MoreAmerican Rhetoric : Obama And Martin Luther King Jr.1481 Words   |  6 Pagesincluding stories about his childhood and family history to build up his credibility, while King Jr. uses more logical statements to walk the reader through each part of his argument, st ep by step. Barack Obama gave his speech at the Democratic National Convention in 2004 to introduce the Democratic nominee for president, John Kerry. Since his speech was meant to introduce Kerry, he could only spend a portion of it on himself, while the rest described Kerry s presidential qualities. However, in theRead MoreWorld Religions Midterm 14746 Words   |  19 Pages1. Theological Arguments:   Theism vs. Atheism Assuming God to have, at least, the properties of omnipotence, omniscience and ‘omni-goodness’ (being all-good) evaluate one argument for the existence of God and one argument against the existence of God.   Explain each argument and show why it is potentially helpful or dangerous for the theist.   Then, explain which of these arguments you find more convincing, and why. 2.Comparing Religions: Compare the worldview of one of the monotheistic religionsRead More Gregor as Symbol of the Jewish Race in Franz Kafka’s Metamorphosis2001 Words   |  9 PagesGregor as Symbol of the Jewish Race in Franz Kafka’s Metamorphosis For thousands of years, the Jewish People have endured negative stereotypes such as the insects of humanity. As Sander Gilman pointed out, the Nazi Party labeled Jews as insects like lice and cockroaches, that generate general disgust among all humanity (Gilman 80).1 These derogative stereotypes, although championed by the Nazis, have their origins many centuries earlier and have appeared throughout Western culture forRead MoreBibliology: New Testament and God Essay2419 Words   |  10 Pagesin the Bible, and is equivalent to God speaking. The Bible was written over a one thousand and five hundred year period, written by more than forty authors, written on three continents (Asia, Africa, Europe), and written in three languages (Hebrew, Aramaic, Greek). The Bible is an inspired source of knowledge about God, Jesus Christ, salvation, and eternity. The Bible being inspired means that it was breathed or spoken by God, and written by other authors that God influenced. In the scriptur e Psalm

Edward Deming free essay sample

Edward Deming Dr. Edward Deming is known for his management strategies and how to improve worker productivity through effective management. Deming’s main point is that most problems are systematic and that its managements responsibility to improve the systems so that workers can do their jobs more effectively. Deming thought a lot differently from other working people of his time. Other managers and lead executives main goals were to force workers to have grueling hours of labor with no regard to health and safety standards.Workers often were frustrated with the lack of respect received in their place of work and would show up in some of the final products they worked on. Deming realized that giving people better situations to work in as well as having more quality final products will lead to greater successes in the workplace. Essentially, his theory states that that improvement in quality lead to lower costs and higher productivity because they result in less rework, fewer mistakes, fewer delays, and better use of time and materials. We will write a custom essay sample on Edward Deming or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Japan was one of the first countries to adapt this way of business after WWII which it is known for today producing new innovative technology. Deming is also responsible for the TQM, which stands for total quality management. Deming’s total quality management is summed up in his 14 points of management which summarize the key goals in effective management and motivating employees to produce quality products. When a company increases its TQM it commits to creating a product that exceeds the customers expectations and that is made with such quality that customers insist on buying your product.We can see an example of this with the Ford Motor Company in the 1980s. At the time Ford was producing cars with transmissions made in both the US and Japan. Consumers kept asking for the Japanese transmission models that left Ford engineers baffled as to why. The Japanese companies were strictly following a Deming ideal in total quality management that was producing a better transmission for identical vehicles using identical parts. This was revolutionary in changing standard operating procedures as well, not only is following the directions of a standard operating procedure sufficient but now you must try to master your raft of production to create a superior quality of a product. We can see this throughout business even today and from the example before in many different industries, one product may be made with the exact same materials and using the same technique but the one that is made with higher quality will always be the one with a higher demand among the customers. Another main point that I think that is used widespread in today’s job marketplace is drive out fear or in other words make employees feel secure enough to express ideas and ask questions.In today’s marketplace the employees that work together need to express their ideas, concerns, and questions because the more ideas that are circulating around a company from different people brings about more diverse thoughts about improving life in the workplace and the products that are made. The actual producers of the product of a company may not be managers of CEOs but have more hands on experience with the product and could have valuable ideas on improvements or innovations to the product as well as ways to produce it more efficiently.Deming was a great thinker of his time and really set the tone for the way businesses and management operate today and will continue to operate in his theory in the future. His principals of management and total quality management ideals transformed companies around the world for the better as the companies went to heights they have never seen before. He realized that giving workers better working conditions and involving them more in the ideas that circulate around the business will benefit both the workers and the overall state of the company. These ideals are being used and innovated today to create better companies globally.

Time Is Value of Money Essay Example

Time Is Value of Money Essay Time Value of Money Practice Problems ? Solutions Dr. Stanley D. Longhofer 1) Jim makes a deposit of $12,000 in a bank account. The deposit is to earn interest annually at the rate of 9 percent for seven years. a) How much will Jim have on deposit at the end of seven years? P/Y = 1, N = 7, I = 9, PV = 12,000, PMT = 0 ? FV = $21,936. 47 b) Assuming the deposit earned a 9 percent rate of interest compounded quarterly, how much would he have at the end of seven years? P/Y = 4, N = 7 ? 4 = 28 ? FV = $22,374. 54 c) In comparing parts (a) and (b), what are the respective effective annual yields? Which alternative is better? Because interest in compounded annual in part (a), the effective annual rate is the same as the nominal rate: EARA = 9%. In part (b), EARB = (1 + i/m)m – 1 = 1. 02254 – 1 = 9. 31%. This can be also solved using the TI BAII+ using the Interest Conversion worksheet. Simply press [2nd] [I Conv] (the second function of the 2 key) to bring up this worksheet. When the screen says NOM = press [9] and [Enter]. Then arrow up and make sure that [C/Y] reads 4 compounding periods per year; if not, press [4] and [Enter]. Finally arrow up to the EFF screen and press [CPT] to compute the effective annual rate. Alternative (b) is preferred because it compounds your interest more frequently. Thus you get to earn â€Å"interest on your interest† sooner. 2) John is considering the purchase of a lot. He can buy the lot today and expects the price to rise to $15,000 at the end of 10 years. He believes that he should earn an investment yield of 10 percent annually on this investment. The asking price for the lot is $7,000. Should he buy it? What is the annual yield (internal rate of return) of the investment if John purchases the property for $7,000 and is able to sell it 10 years later for $15,000? P/Y = 1, N = 10, I = 10, PMT = 0, FV = 15,000 ? PV = ? $5,783. 15. Because the present value of this investment is less than the $7,000 asking price for the lot, John should not buy it. To solve for the internal rate of return enter PV = ? 7,000 and compute I = 7. 92%. 3) An investor can make an investment in a real estate development and receive an expected cash return of $45,000 after six years. Based on a careful study of other investment alternatives, she believes that an 18 percent annual return compounded quarterly is a reasonable return to earn on this investment. How much should she pay for it today? We will write a custom essay sample on Time Is Value of Money specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Time Is Value of Money specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Time Is Value of Money specifically for you FOR ONLY $16.38 $13.9/page Hire Writer P/Y = 4, N = 6 ? 4 = 24, I = 18, PMT = 0, FV = 45,000 ? PV = ? $15,646. 66. 1 4) Suppose you have the opportunity to make an investment in a real estate venture that expects to pay investors $750 at the end of each month for the next eight years. You believe that a reasonable return on your investment should be 17 percent compounded monthly. a) How much should you pay for the investment? P/Y = 12, N = 8 ? 12 = 96, I = 17, PMT = 750, FV = 0 ? ? $39,222. 96. b) What will be the total sum of cash you will receive over the next eight years? This can be solved by setting I = 0, PV = 0, and computing FV = ? $72,000. Notice that the sign of this solution is negative because the payments have been entered as positive values. c) Why is there such a large difference between (a) and (b)? The difference between the answers in parts (a) and (b) represents the foregone interest that results from receiving the payments in the future, rather than today. 5) Walt is evaluating an investment that will provide the following returns at the end of each of the following years: year 1, $12,500; year 2, $10,000; year 3, $7,500; year 4, $5,000; year 5, $2,500; year 6, $0; and year 7, $12,500. Walt believes that he should earn an annual rate of 9 percent on this investment. How much should he pay for this investment? This can be solved using the irregular cash flow worksheet: CF0 = 0 C01 = 12,500 C02 = 10,000 C03 = 7,500 C04 = 5,000 C05 = 2,500 C06 = 0 C07 = 12,500 Set I = 9 and solve for NPV = $37,681. 6) A loan of $50,000 is due 10 years from today. The borrower wants to make annual payments at the end of each year into a sinking fund that will earn interest at an annual rate of 10 percent. What will the annual payments have to be? Suppose that the borrower will make monthly payments that earn 10 percent interest, compounded monthly. How much will he pay annually into the fund? With annual compounding: P/Y = 1, N = 10, I = 10, PV = 0, FV = 50,000 ? PMT = ? $3,137. 27. With monthly compounding: P/Y = 12, N = 10 ? 12 = 120, ? PMT = ? 244. 09. These are monthly payments, so the total annual payment will be 244. 09 ? 12 = $2,929. 04. 2 7) The Dallas Development Corporation is considering the purchase of an apartment project for $100,000. They estimate that they will receive $15,000 at the end of each year for the next 10 years. At the end of the 10th year, the apartment project will be worth nothing. If Dallas purchases the project, what will be its internal rate of return? If the company insists on a 9 percent return compounded annually on its investment, is this a good investment? P/Y = 1, N = 10, I = 9, PMT = 15,000, FV = 0 ? PV = ? $96,264. 87. Based on the NPV rule, this is a poor investment because the present value of future cash flows is less than the required investment of $100,000. Alternatively, you could enter PV = ? $100,000 and solve for I = 8. 14%. Because the IRR of this investment is less than the 9% hurdle rate, Dallas should not invest in this project. 8) Suppose you deposit $5,000 into an account earning 4 percent interest, compounded monthly. ) How many years will it take for your account to be worth $7,500? P/Y = 12, PV = ? 5,000, I = 4, PMT = 0, FV = 7,500 ? N = 121. 84, or 10. 15 years. b) Suppose in addition to the initial $5,000 deposit, you will make monthly contributions of $50. How many years will it take for the account to grow to $7,500 in this case? PMT = ? 50 ? N = 35. 39 or 2. 95 years. c) How does your answer change if you make quarterly deposits of $150 rather than monthly contributions of $50? Explain the reason for any difference in your answer from part b. Maintain the assumption that interest compounds monthly. P/Y = 4, C/Y = 12, PMT = ? 50 ? N = 11. 83 or 2. 96 years. The time it takes to save $7,500 rises just a bit because you are no longer earning interest on new investments until the end of each quarter, rather than each month. 9) Consider an investment that will pay $680 per month for the next 15 years and will be worth $28,000 at the end of that time. How much is this investment worth to you today at a 5. 25 percent discount rate? P/Y = 12, N = 15 ? 12 = 180, I = 5. 25, PMT = 680, FV = 28,000 ? PV = ? 97,351. 34. 10) You currently owe $18,000 on a car loan at 9. 5 percent interest. If you make monthly payments of $576. 9 per month, how long will it take you to fully repay the loan? P/Y = 12, I = 9. 5, PV = 18,000, PMT = ? 576. 59, FV = 0 ? N = 36 11) You have just borrowed $10,000 and will be required to make monthly payments of $227. 53 for the next five years in order to fully repay the loan. What is the implicit interest rate on this loan? 3 P/Y = 12, N = 5 ? 12 = 60, PV = 10,000, PMT = ? 227. 53, FV = 0 ? I = 13% 12) Your uncle has given you a bond that will pay $500 at the end of each year forever into the future. If the market yield on this bond is 8. 25 percent, how much is it worth today? This type of investment is known as a perpetuity. The formula for its value is PV = PMT / r = 500 / 0. 0825 = 6,060. 61. 13) Suppose you have an investment that is expected to generate a $20,000 cash flow next year and that this is expected to increase by 5 percent per year forever into the future. a) If your required rate of return on this investment is 18 percent, how much is it worth to you today? This is a growing perpetuity. The formula for its value is PMT 20,000 PV = = = 153,846. 15 . r ? g 0. 18 ? 0. 05 b) Suppose now that you do not know how fast the cash flows will grow in the future, but that you expect them to grow at a constant rate. Suppose also that this investment is currently priced at $200,000. If the required rate of return is still 18 percent, how fast does the market expect the annual cash flows to grow? Rearrange the growing perpetuity formula to solve for the growth rate: PMT 20,000 g =r? = 0. 18 ? = 0. 18 ? 0. 10 = 0. 08 or 8 percent. PV 200,000 14) You are considering the purchase of an investment that is expected to generate cash flows of $15,000 per year for the next five years. After that, cash flows are expected in increase at the rate of 5 percent per year for the indefinite future. Thus, in year 6 the cash flow will be $15,750, etc. How much is this investment worth to you today if your required return is 15 percent? First, calculate the value of the investment at the end of year 5 using the formula for a growing perpetuity: V5 = CF6 15,750 = = 157,500 . r ? g 0. 15 ? 0. 05 Next use this as the future value and use your time value of money keys to calculate the value as of date 0 (today). P/Y = 1, N = 5, I = 15, PMT = 15,000, FV = 157,500 ? PV = ? 128,587. 66. 4 ______ 1. What is the future value of $3,500 deposited for 12 years at 5 percent interest, compounded annually? A. $6,285. 50 B. $3,679. 07 C. $55,709. 94 D. $6,369. 47 P/Y = 1, N = 12, I = 5, PV = 3,500, PMT = 0; solve for FV ______ 2. What is the internal rate of return on an investment that costs $2,000 and returns $32 per month for the next 15 years? A. The IRR cannot be calculated for this investment B. 1. 48% C. 17. 86% D. 14. 13% P/Y = 12, PMT = 32, PV = -2,000, FV = 0, N = 15 ? 12 = 180; solve for I ______ 3. What is the internal rate of return of an investment with the following cash flows? n 0 1 2 3 4 5 $ (1,000) 300 300 300 200 100 A. B. C. D. The IRR cannot be calculated for this investment 10. 0% 15. 23% 7. 48% CF0 = -1,000, C01 = 300, F01 = 3, C02 = 200, F02 = 1, C03 = 100, F03 = 1; solve for IRR ______ 4. If your discount rate is 12%, what is the NPV of the investment from the last question? A. $0. 00 B. ($55. 25) C. $200. 00 D. ($95. 60) With all the same entries, solve for NPV with I = 12 5 ______ 5. True or FALSE: Assuming the same positive discount rate and the same number o f years over which they will be received, a $1,200 annuity with annual payments has a larger present value than a $100 annuity with monthly payments. The reason is â€Å"sooner is better than later. The total payments you receive is the same under both annuities ($1,200 per year), but you get some of your money sooner with the monthly annuity. You could put this in an account and earn interest on it, making it worth more to you than $1,200 at the end of each year. ______ 6. How much should you pay for an investment that pays $1,500 per year for the next three years and then $2,000 per year for the following two years? Assume a discount rate of 15% per year? A. $8,500. 00 B. $5,562. 70 C. $6,338. 15 D. $10,000. 00 CF0 = 0, C01 = 1,500, F01 = 3, C02 = 2,000, F02 = 2; solve for NPV with I = 15 ______ 7. Consider an eight-year investment costing $55,000. It is expected to pay $3,000 per year in each of the next five years and $15,000 per year in the last three years. If the required discount rate is 12 percent, what is the net present value of this investment? A. $86,257. 28 B. ($23,742. 72) C. $5,000 D. $60,000. 00 CF0 = -55,000, C01 = 3,000, F01 = 5, C02 = 15,000, F02 = 3; solve for NPV with I = 12 ______ 8. What is the internal rate of return of the investment in the last question? A. The IRR cannot be calculated for this investment B. 1. 47% C. 14. 7% D. 12. 0% With the same entries as above, solve for IRR ______ 9. What is the annual debt service on a $1. 2 million 30-year mortgage at 6. 75% interest with monthly payments? A. $40,518 B. $7,783 C. $94,286. 59 D. $93,398 Annual debt service is simply 12 times the monthly payment. Enter PV = 1,200,000, P/Y = 12, N = 30 ? 12 = 360, I = 6. 75, FV = 0; solve for PMT and multiply the result by 12. ______ 10. In class we said that †Å"cash is king† in finance. Which of the following things is NOT true about this king? A. More is better than less B. Sooner is better than later C. Certain is better than uncertain D. STRAIGHT IS BETTER THAN CROOKED 7