Financial Risk and Return Considerations Essay Sample free essay sample

1. [ Financial Risk and Return Considerations ] Explain how you would take between the undermentioned state of affairss. Develop your replies from the position of the rules of entrepreneurial finance presented earlier in the chapter. You may get at your replies with or without doing existent computations. A. You have $ 1. 000 to put for one twelvemonth ( this would be a luxury for most enterprisers ) . You can gain a 4 % involvement rate for one twelvemonth at the Third First bank or a 5 % involvement rate at the First Fourth bank. Which savings history investing would you take and why? Third First bank: $ 1. 000 ten 1. 04 = $ 1. 040First Fourth bank: $ 1. 000 ten 1. 05 = $ 1. 050 The First Fourth bank loan would be preferred because you would have $ 10 more ( $ 1. 050 versus $ 1. 040 ) at the terminal of one twelvemonth. This illustration illustrates the rule: â€Å"real. human. and fiscal capital must be rented from proprietors. † The clip value of money is an of import constituent of the rent one wage for utilizing person else’s fiscal capital. We will write a custom essay sample on Financial Risk and Return Considerations Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page B. A â€Å"friend† of yours will impart you $ 10. 000 for one twelvemonth if you agree to refund him $ 1. 000 involvement plus returning the $ 10. 000 investing. A 2nd â€Å"friend. † has merely $ 5. 000 to impart to you but wants entire financess of $ 5. 400 in refund at the terminal of one twelvemonth. Which loan would you take and why? First friend: $ 1. 000/ $ 10. 000 = 10 % involvement rateSecond friend: $ 400/ $ 5. 000 = 8 % involvement rate The 2nd friend is offering you a lower involvement rate ( 8 % versus 10 % ) which would be preferred. other things being equal. This illustration illustrates the rule: â€Å"real. human. and fiscal capital must be rented from proprietors. † The clip value of money is an of import constituent of the rent one wage for utilizing person else’s fiscal capital. However. the dollar sum of fiscal that is needed besides must be considered. For illustration. if you â€Å"need† $ 10. 000 so the lower involvement rate $ 5. 000 loan is non a feasible option. The lone feasible pick might be to borrow $ 10. 000 at the 10 per centum rate of involvement. C. You have the chance to put $ 3. 000 in one of two investings. The first investing would pay you either $ 2. 700 or $ 3. 300 at the terminal of one twelvemonth depending on the success of the venture. The 2nd investing would pay you either $ 2. 000 or $ 4. 000 at the terminal of one twelvemonth depending on the success of the venture. Which investing would you take and why? Now. would your reply alteration if your investing were merely $ 1? Low ResultHigh ResultExpected ValueFirst investing: $ 2. 700 $ 3. 300 ( $ 2. 700 + $ 3. 300 ) /2 = $ 3. 000 Second investing: $ 2. 000 $ 4. 000 ( $ 2. 000 + $ 4. 000 ) /2 = $ 3. 000 A 2nd rule of entrepreneurial finance is: â€Å"risk and expected wages travel manus in manus. † â€Å"Risk† is reflected in the scattering or scope of results. Each investing sum is $ 3. 000 and the expected return on norm is $ 3. 000 for each investing. However. the 2nd investing is considered to be riskier in that you might really have merely $ 2. 000 or two-thirds of your investing at the terminal of one twelvemonth. Since the investing sums and expected values are the same. risk-averse investors would prefer the first investing because it has less scattering hazard. However. when investings are really little ( or are perceived to be little by a specific investor ) . some investors might do the riskier investing in the â€Å"hope† the highest return will happen. This is sometimes called the â€Å"lottery† consequence in that investors know there is a high chance that they will lose all of their investing but they are willing to set about the investing in the hope they will have the high final payment even though the odds of making so are really. really little. Bankruptcy or failure state of affairss may besides do the investor ( enterpriser ) to take the riskier investing. For illustration. let’s assume that you will necessitate $ 3. 500 in order to maintain your concern afloat. Since merely the riskier 2nd investing has the possibility of paying at least $ 3. 500. the 2nd investing might be selected. D. An outside venture investor is sing puting $ 100. 000 in either your new venture or in another venture. or put $ 50. 000 in each venture. At the terminal of one twelvemonth. the value of the venture might be either $ 0 or $ 1. 000. 000. The other venture is expected to be deserving either $ 50. 000 or $ 500. 000 at the terminal of one twelvemonth. Which investing pick ( yours. the other venture. or half-and-half ) do you believe the venture investor would take to put in? Why? Low ResultHigh ResultExpected ValueYour venture: $ 0 $ 1. 000. 000 ( $ 0 + $ 1. 000. 000 ) /2 = $ 500. 000 Other venture: $ 50. 000 $ 500. 000 ( $ 50. 000 + $ 500. 000 ) /2 = $ 275. 000Half-and-half: $ 25. 000 $ 750. 000 ( $ 25. 000 + $ 750. 000 ) /2 = $ 387. 500 Under the half-and-half option. $ 50. 000 is invested in each venture. The low consequence result is $ 25. 000 ( $ 0 + $ 25. 000 ) and the high consequence result is $ 750. 000 ( $ 250. 000 + $ 500. 000 ) . In actuality there are two more possible results under the half-and-half option. They are: $ 250. 000 ( $ 0 + $ 250. 000 ) and $ 525. 000 ( $ 25. 000 + $ 500. 000 ) . Therefore. the more complete half-and-half computation would be: ( $ 25. 000 + $ 250. 000 + $ 525. 000 + $ 750. 000 ) /4 = $ 387. 500. A venture investor who is non really risk averse might take your venture to put in since there is a possibility of having $ 1. 000. 000 in return for seting up $ 100. 000. Of class. such an investor could lose all of his/her investing if the low consequence occurs. A more hazard averse venture investor might take to put in merely the other venture where he/she could lose merely $ 50. 000 of the $ 100. 000 investing if the low consequence occurs with the possibility of having a upper limit of $ 500. 000 if the high consequence possibility occurs. By uniting the two venture investings in a â€Å"portfolio. † the consequence is frequently less scattering hazard. In the above illustration. the lowest sumreturned would be $ 25. 000 ( alternatively of nothing for merely your venture ) . However. the highest sum returned besides would be lower at $ 750. 000 ( alternatively of the possibility of $ 1. 000. 000 for your venture ) . The concluding determination will depend on the venture investor’s willingness to merchandise off a lower expected return for less scattering hazard.

Polis - Ancient Greek City-States

Polis - Ancient Greek City-States The polis (plural, poleis)- also known as a city-state- was the ancient Greek city-state. The word politics comes from this Greek word. In the ancient world, the polis was a nucleus, the central urban area that could also have controlled the surrounding countryside. (The word polis could also refer to the citys body of citizens.)  This surrounding countryside (chora or ge) could also be considered part of the polis. Hansen and Nielsen say there were around 1500 archaic and classical Greek poleis. The region formed by a  cluster of poleis, bound geographically and ethnically, was an ethnos (pl. ethne).   Pseudo-Aristotle defines the Greek polis as an assemblage of houses, lands, and property sufficient to enable the inhabitants to lead a civilized life [Pounds]. It was often a lowland, agricultural central area surrounded by protective hills. It may have started as numerous separate villages that banded together when its mass became large enough to be almost self-sustaining. The Largest Greek Polis The polis of Athens, the largest of the Greek poleis, was the birthplace of democracy. Aristotle saw the household oikos as the basic social unit of the polis, according to J. Roy. Athens was the urban center of Attica; Thebes of Boeotia; Sparta of the southwestern Peloponnese, etc. At least 343 poleis belonged, at some point, to the Delian League, according to Pounds. Hansen and Nielsen provide a list with member poleis from the regions of Lakonia, the Saronic Gulf (to the west of Corinth), Euboia, the Aegean, Macedonia, Mygdonia, Bisaltia, Chalkidike, Thrace, Pontus, the Pronpontos, Lesbos, Aiolis, Ionia, Karia, Lykia, Rhodes, Pamphyli, Kilikia, and poleis from unlocated regions. The End of the Greek Polis It is common to consider the Greek polis ended at the Battle of Chaironeia, in 338 B.C, but An Inventory of Archaic and Classical Poleis argues that this is based on the assumption that the polis required autonomy and that was not the case. Citizens continued to run their citys business even into the Roman period. Sources An Inventory of Archaic and Classical Poleis, edited by Mogens Herman Hansen and Thomas Heine Nielsen, (Oxford University Press: 2004).An Historical Geography of Europe 450 B.C.-A.D. 1330; by Norman John Greville Pounds. American Council of Learned Societies. Cambridge University Press 1973.Polis and Oikos in Classical Athens, by J. Roy; Greece Rome, Second Series, Vol. 46, No. 1 (Apr., 1999), pp. 1-18, citing Aristotles Politics 1253B 1-14.

Women In the US Army Research Paper Example | Topics and Well Written Essays - 3000 words - 1

Women In the US Army - Research Paper Example Opposing the traditional socio-religious barriers to and prejudices that women are best suited for indoor activities due to their psychophysical fragility, women’s position in outdoor activities was reinforced by their participation in the Women’s Army Auxiliary Corp. Indeed the root of the Women’s Army Auxiliary Corp lies in the women’s unarmed services â€Å"with the Army under contract and as volunteers during World War I as communications specialists and dietitians† (Bellafiare 4). Subsequently, a bill regarding women’s inclusion into the US Army as regular personnel with equal pay, equal legal protection, disability benefits, pensions and medical care was proposed by Edith Nourse Rogers, the Congresswoman of Massachusetts. But Rogers’ propositions did not go unchallenged since â€Å"both the Army and the American public initially had difficulty accepting the concept of women in uniform† (Moore 34). Finally, Rogers’ c ommittee and the US Military authority came to a compromise regarding the women’s legal rights in the army and the Womens Army Auxiliary Corps (WAAC) became existent in 1942 by Public Law 554 () as a branch "for the purpose of making available to the national defense the knowledge, skill, and special training of the women of the nation." (Bellafaire 7). Later, the WAAC gained the full status of an army branch, being converted to Women’s Army Corp (WAC) in 1943. About 150,000 American women â€Å"served in the Womens Army Corps (WAC) during World War 11. Members of the WAC were the first women other than nurses to serve within the ranks of the United States Army† (Bellafiare 5). Though Rogers’s idea was to provide the women with full status of army personnel in the US Army, due to the novelty of the idea and social barriers and prejudice towards women’s participation in armed activities, the WAAC members did not have the full rights that their male counterpart had

Strategic Management Analysis Essay Example | Topics and Well Written Essays - 3000 words

Strategic Management Analysis - Essay Example The selection of this company is largely based upon the well known Thomas Cook brand, which is practically synonymous with packaged vacations as well as specific vacation related financial services and products. Additionally the company’s publicized commitment to a sustainable approach both to and within the tourism sector and destinations deserves the due recognition and is furthermore one of the factors for the selection of the Thomas Cook Group. The Thomas Cook Group, as a company per se, was established in 1841 by Thomas Cook who at the time was a providing excursions for fellow temperance members and campaigners and is credited with marketing the first private excursion train (Williamson 1998). This therefore makes the company almost 170 years old, which can certainly be seen as an asset in the view of competing travel related companies and service providers within the broader tourism industry. According to the latest annual report (Thomas Cook 2009) provided by the company the staff compliment is in excess of 31,000 people, catering to over 22 million customers, and in turn generating revenue in 2009 of  £9.3 billion. In addition to offering travel, travel related, packaged travel, and financial services in the broader travel sector, the company operates 95 aircraft, predominantly operating within and from the country of Germany in Europe. In so far as geographic location and representation is concerned, the group is r epresented by company owned and franchised stores in 5 geographic regions, within 21 different countries. The Thomas Cook Group has certainly grown over the years, and it appears that sound strategic management has been at the center of this growth, based largely upon acquisitions and mergers to access specific sectors of the tourism market. The analysis of the business’ history and timeline so to speak provides valuable insight into specific strategically related process, and management decisions within the group as it in turn allows us

Vitamin A and skin Essay Example | Topics and Well Written Essays - 1750 words

Vitamin A and skin - Essay Example While some claims have some rationale and are based on adequate research, it must be accepted that some of these claims are quite spurious with lack of adequate and extensive evidence from research before them being recommended to be used (Weiss et al., 1988). In this assignment one such claim published in a reputed newspaper will be critically examined whether local dermal application of vitamin A could be recommended to delay or reverse aging of the skin, whether it is intrinsic or extrinsic aging. The report that will be examined here was published in Science Daily, May 22, 2007, issue with the heading "Vitamin A Helps Reduce Wrinkles Associated With Natural Skin Aging" which states essentially that there has been research which supports a claim that local application of vitamin A to the skin apparently improves the wrinkled appearance of the skin associated with natural aging. This claim has been correlated to the findings from research that locally applied vitamin A may promote repair of these age wrinkles through production of "skin building compounds". The claims can be quoted here. The main claim was "Topical retinol improves fine wrinkles associated with natural aging" and to support this, in this report there are two other claims which point to the scientific basis of the claim, which are "Significant induction of glycosaminglycan, which is known to retain substantial water, and increased collagen production are most likely responsible for wrinkle effacement" and "With greater skin matrix synthesis [production of compounds that form skin], retinol-treated aged skin is more likely to withstand skin injury and ulcer formation along with improved appearance" (JAMA and Archives Journals, 2007, May 22). Identical reports supporting these claims also appeared in the Internet version of Cosmetics Design (Pitman, 2007). Scientific Evidence for the Claim The authors of this media report bases on a scientific journal article published in the Archive of Dermatology from the American Medical Association. For the purpose of better critical analysis of the rationale behind such claims, this writer has accessed that article by Kafi et al. (2007). The findings from that critical review will be presented in a subsequent section of this assignment. However, it appears from this report that the reporter in this media report utilizes quotation from that article to provide the lay reader a grasp of scientific rationale behind such claim. In the beginning of the report, the two different forms of aging of skin have been discussed. It is well known that age-associated wrinkles and brown spots appear prominently in the exposed skin, and although sun exposure has been related to aging through a less dramatic identical process, the intrinsic aging process in the skin that occurs naturally causes the skin to lose its appearance due to changes in its t exture. The natural aging renders the skin "thinner, laxer and more finely wrinkled", more prominent in specific areas such as upper inner arm (JAMA and Archives Journals, 2007, May 22). Histologically, this can be correlated to a reduced synthesis of collagens and elastic tissues in the

Effect of Voltage on the Rate of Electroplating a Metal

Effect of Voltage on the Rate of Electroplating a Metal Akinlabi Boluwarinde Oluwatosin BACKGROUND Electroplating is the process of plating one metal onto another by hydrolysis, most commonly for decorative purposes or to prevent corrosion of a metal. There are also specific types of electroplating such as copper plating, silver plating, and chromium plating. Electroplating allows manufacturers to use inexpensive metals such as steel or zinc for the majority of the product and then apply different metals on the outside to account for appearance, protection, and other properties desired for the product. The surface can be a metal or even plastic.[1] RESEARCH QUESTION How does varying the voltage of the circuit affect the rate of electroplating a metal with copper? HYPOTHESIS The voltage of the cell also known as the E.M.F (electromotive force) is known to be the force that drives the current thhrough the circuit. It is expected that by increasing the Voltage the circuit will lead to an increase in the rate of electroplating the metal as more current will flow easily throughout the circuit. VARIABLES Independent Variable The voltage of the circuit Dependent Variable The mass of pure copper electroplated onto the metal Controlled Variable The amount of time allowed for reaction The concentration of the electrolyte solution The metal rod used CONTROL OF VARIABLES The amount of time allowed for reaction to occur will be measured with the use of a stopwatch. The voltage of the circuit will be increased by a fix aed amount of 1.5V to keep the experiment and easily measure a changein rate. The same metal rod will be used throughout the experiment for all trials and of the different voltage. The mass of the metal rod to be used is 7g APPARATUS Cells Low resistance wire Copper solid Electrolyte (copper sulphate solution) Electric Balance Stopwatch Metal rod Voltmeter Beaker METHOD I Setup the circuit as shown in the diagram below. I measured the initial mass of the metal and recorded it.Starting with one cell of 1.5V. I closed the circuit and allowed the reaction to occur for 10 minutes. I removed the electroplated metal and measured its mass and recorded it in the table. I Repeated the experiment increasing the number of cell each time and recorded the mass of the of the electroplated metal each time. SAFTEY PRECAUTIONS There is the risk of electrocution if care is not taken. To avoid this the use of well protected wires is necessary and great care must be taken when carrying out the experiment. DATA COLLECTION Raw Data Voltage /v Mass of metal rod after electrolysis /g  ± 0.1g Trail 1 Trail 2 Trail 3 1.5 7.8 7.9 7.9 3.0 8.9 8.7 8.8 4.5 10.0 9.9 9.9 6.0 11.1 11.2 10.9 Qualitative Observations: The pure copper solid used became faded after it was used in the electrolysis reaction. There was still some residue of copper left on the metal rod after rinsing it. The voltage recorded by the voltmeter was not constant but varried in range that was close to the desired value The mass of the metal rod used is 7g Processed Data Voltage /v Mean Average mass of metal rod after electrolysis /g  ± 0.1g Mass of copper added to rod /g  ± 0.1g 1.5 7.9 0.9 3.0 8.8 1.8 4.5 9.9 2.9 6.0 11.1 4.1 The data has been processed. The mean of the three trials for each voltage has been calculated and represented on the table above as Mean Average mass of metal. Also the mass of copper that was electroplated onto the metal rod was calculated using the equation: Graph 1 Graph 2 CONCLUSION As expected when there was an increase in the voltage flowing in the circuit the mass of copper that was electroplated onto the metal rod increased too. This is because as the voltage increases a larger number of electrons flow from the cell or battery into the anode which causes the formation of copper ions to occur faster and so more ions are attracted to the metal rod (cathode) in the given time. The relationship between mass of copper electroplated and voltage can be seen on both graph 1 and graph 2 above. In graph 1 there is an increase in mass as voltage increases but the graph obtained is a slight curve rather than a straight line which indicates random errors, this could likely be due to the voltage fluctuating in circuit. Graph 2 shows a line of best fit for the graph and it is a straight line graph as expected, the error bars are plotted as well. The line passes through all the error bar ranges but does not touch any of the points on the graph and it does not pass through the origin (0,0), this may be due to systematic errors such as errors in the electric balance when measuring the mass of the metal rod before and after electroplating. The linear correlation is 0.998, which suggest very strong correlation between the two variables. EVALUATION The graph of values obtained was not exactly the same as what was expeted. A straight line graph starting from the origin was the expected graph but the graph ontained after a lin of bestt fit was plotted started from the y-intercept -0.25. This was due to errors in the experiment. Random errors such as the fluctuation of the voltage flowing through the circuit as a result of the chemicl reactions going on in the cell led to some of these errors. The voltmeter showed values that ranged from below to above the value of the voltage required indicating that this variable was not kept constant. The deviations were very little and not too far from the required voltage but were still enough to cause errors. It is also possible that because the same solution was used for all trials not all the copper ions had been electroplated onto the metal rod, this could have altered the concentration of the electrolyte (copper sulphate) leading to more errors as the concentration of the electrolyte als o has an effect on the rate of electroplating. Systematic errors were also present throughout the experiment, errors in measuring the mass of the of the metal rod before and after electroplating and also in measuring the mass of the anhydrous copper sulfate solution. This may have been due to poor caliberation before the experiment was carried out. The copper used may also have not been pure as it is possible that there were impurities in the copper solid used. Finally not all of the copper was rinsed off the metal rod before it was used for the next trial which could have altered the total mass when the mass of the metal after electro plating was measured. Errors in measuring the volume of water to be added to the beaker could also have been present. Systematic errors in the stopwatch used such as the delay in starting when the timer was started. The experiment also depended on human reaction time which is known to less accurate than machines, this will have led to more errors. It is impossible to keep the voltage of the cells constant but the range of values can be reduced by using new cells. The eleectric balance cshould be well caliberated before carring out the experiment and a balance with a higher degree of accuracy and sensitivity (measures to more decimal places) could be used. Before each trial a new electrolyte solution could be used to avoid any changes in concentration during the experiment. The experiment could have been automated using a switch that opened after ten minutes from when it was closed to eliminate the error as a result of dependence on human response time. The experiment could also have been repeated more times to reduce errors and increase accuracy. Also a lager rane of voltages could have been tested to gain more data for better more accurate analysis. [1]  http://chemwiki.ucdavis.edu/Analytical_Chemistry/Electrochemistry/Electrolytic_Cells/Electroplating

Kant’s Formula of the End in Itself :: Ethics Kant Formula End Itself Essays

Kant’s Formula of the End in Itself ABSTRACT: Is Kant’s "Formula of the End in Itself" overly demanding? In addressing this question, I sketch a conception of co-obligation, that is, a sort of moral requirement that holds, not of persons distributively, but of persons collectively. I then raise a problem of devolution: How does a co-obligation for all persons devolve upon me? For instance, given that we must maximize happiness, it does not seem to follow that I must always act so as to maximize happiness. In partial answer to this problem, I claim that some Kantian duties do stem from co-obligations. But this claim has as a crucial assumption the following conjecture: The "Formula of the End in Itself" is to be read as implying that we must treat each person as an end and not simply as a means. I Kant’s Formula of the End in Itself, with its conception of treating persons as ends and not simply as means, has had enormous influence in the history of ethics. In this talk, I shall discuss an objection to it, namely, that it is overly demanding. To begin with, let me state this objection more fully: Suppose that, in obedience to the Formula, you want to treat your friend as an end (and not simply as a means). Your action of treating her as an end can be either a positive one or a negative one. When it is positive, she is (in some way) the object of your agency — for example, you might treat her as an end by saving her life. In contrast, when it is negative, she is not the object of your agency — for example, you might treat her as an end by refraining from lying to her. Now the obligation to treat a person as an end is not overly demanding, when such an act is a negative one. For then you are simply obligated not to do something, an obligation that you can fully comply with by exercising self-control. For instance, it is hardly burdensome to refrain from lying to people. However, when the act is a positive one, the obligation to treat a person as an end can often be overly demanding. For then your obligation to her can be a good-Samaritan one, requiring you not to allow other persons to treat her simply as a means. But an obligation of this sort can be quite difficult to comply with, because you cannot exercise the same control over other persons that you can over yourself.