I too was uncertain how to do the answer for that question - I am struggling to figure out how to get excel to do the calculation and it seems that when I get it done, there will be 300 lines of calculations. I am going to send a query to the email address for queries to try and find out if that is what I am supposed to be doing.
Hello everyone, my question relates to question 12. I understand what liquidity is, but I am clueless as to how it is of varying relevance to aged pensioners and negatively geared investors. We need to include calculations for this too, but I don't know where to begin with it. Can anyone offer some guidance? It will be much appreiciated. Thank you. Scott
Hi Redcake, I'm no expert and I had to re read this a couple of times also. However I think what the question is trying to highlight is something like this; Pensioners may be relying on a pension fund or the likes that only releases funds in limited amounts and there may be penalties for extra withdrawals. They may have large reserves in their saving but unable to access them. Negatively geared investors give up some of their liquid funds by contributing themselves from their own pocket. If they do this several times they run out of cashflow and may ultimately have to convert a property into cash.
I just spoke to Renee about question 12. I like you understand what liquidity is. I was also confused as what calculations they wanted. Renee said that no calculations were needed if you have a good explanation. I had a different idea to Jamie about the answer. However, I ran both what I thought and what Jamie said and she said we were both on the right track. My idea was that an aged pensioner would be more interested in money in the bank or a term deposit as there is a stable and reliable income. That they were more likely to want to access their cash fairly quickly, compared to an investment that would take time to sell.
Hi Redcake and Jamie, I get the impression there are many different opinions and aspects that could be taken into consideration for this question - I thought pensioners would need more liquidity because they have such a small income and might need some extra cash readily available. I thought a negative geared investor would have enough income and lots of ready cash – but then, they might need readily available cash for covering the shortfall - it would depend on the financial circumstances of the particular investor – they might need arrangements in place to provide a cash buffer. So really, I ended up wondering but wrote some comments to that effect.
I overlooked that it said “include calculations” and I don’t see what they would be needed for. I guess I think that if my answer is hopelessly wrong, the person marking my paper will let me know.
Anyone out there got any insights on how to do and present the calculations for Q5? Do we have to manually or by spreadsheet/calculator write and provide 300 lines of added on compound interest?
Hi Jamie, thanks for your advice, though I did not know where you meant for me to search - it came up with no results in google. In the meantime, I persisted with brushing up my very rusty and rudimentary excel skills and worked out the formula and set up a table. Then I asked my daughter if she knew how to make a formula repeat in the cells below, so together we worked it out - so it was a lot easier than I thought, once I sat down a couple of times and devoted myself to persisting with excel. Hope everyone else is enjoying the same success and pleasure in learning and mastering something. All the best Beth
Thanks Jamie, I had another go and found some - not sure how good my maths skills are going to be at doing them though, but will give it a go sometime, just so I can understand and learn something new. Thanks
If you're still stuck on this question and trying to do it via Excel, there is a formula for calculating interest that compounds more than once a year. Check out the link to this website. I found it most useful.
Email Renee whi works with Steve at: renee@propertyinvesting.com I have been emailing her questions and i am getting what i need to carry on the homework. Mind you the homework - meaning Module 1 homework to be sent in - does take a while to do, so allow a good wekend to churn through it.
Hi All, I am chugging my way thru our assignment and was wondering if anyone could help with Q1B - I'm not really sure how to go about why a NFP charity providing community housing would benefit from the course.....other than understanding the market and the competitiion when buying property but I am not sure that is what the question is asking. Any ideas????
Hi Everyone. Well I was a late enroller and have spent the last 2 weeks catching up. It was all a bit overwhelming at first, but now Im on a roll. I too was stuck with the question on the relevance of liquidity to the aged pensioer. I answered much the same as 'bethp'. Arent we learning a lot. Spreadsheet, learning formulas, research, (wouldnt we be lost without Google). Anything I dont quite understand, I just google and read, google and read. The only thing Im stuck with at the moment is Part2 with the research on an add from a paper. I bought the last 3 papers every day and cant find one. Its holding me up a bit. Well, that was my weekly post. Hope your feeling better Steve. It couldve been worse suppose.
I seem to remember reading somewhere on these forum boards a few weeks ago - someone asking Steve if they could find an "ad" from the net or some other method, as they don't read papers, and my recall is that Steve okayed that.
I have no recall of noticing any such ads in the papers I read of late, so I used the method of asking at my local bank, because in real life that is what I would do if I was looking for a term deposit. I went on the bank's website and picked out the matching term deposit, and then did the research project using that as my "ad". I haven't got my assignment back yet, but am assuming it will be okay.
Hello, this is my first post. I am a late starter and am desperately trying to catch up to everybody else. I am having trouble understanding Q10. Can somebody please explain this question to me in laymans terms?
Hey tweak, I read question 10 as being, Discuss how a difference in purchase price of +/- $50,000 affects the deposit size and buying capabilites of a first home buyer. I picked a pricetag, then showed calculations to show what deposit would be required in each scenario. (eg) $250000, $300000 and $350000) and then discussed the implications of the differences of the figures. I havnt actually submitted it yet though so i havnt had any feed back on it. Hope this helps ! xx natalie
Hey tweak, I read question 10 as being, Discuss how a difference in purchase price of +/- $50,000 affects the deposit size and buying capabilites of a first home buyer. I picked a pricetag, then showed calculations to show what deposit would be required in each scenario. (eg) $250000, $300000 and $350000) and then discussed the implications of the differences of the figures. I havnt actually submitted it yet though so i havnt had any feed back on it. Hope this helps ! xx natalie
Tweak, I am with you. I only have Q10 left and I have been sitting on this question all week.
I get the difference in $50,000 but I do not understand how it changes the buying power. 20% is 20% no matter how much the price changes. Now if the question said how does the $14,000 First home buyers grant changes as the price goes up and down then that makes sense and I can explain that, but the question says 20% buying power not a fixed amount. I dont see how that changes as simply the buying power increases and decreases as prices change.
Am I missing something here?
Any advice or help would be great so I can get this assignment off the desk.
Here's how I understand the question. I think the question is asking if you have 20% deposit and if the value of the property went up or down by $50,000 what effect would it have on the purchasing power as a percentage of the total price.
Say, the property you're interested in is $300,000 when you had your $60,000 deposit ($60,000 divided by 20% = $300,000). For some reason you procrastinate and don't buy the property right away and buy it in 6 months time the following can happen:
1. The property INCREASES by $50,000, which means it's now worth $350,000 then your deposit of $60,000 will be (60,000/350,000=17.14%). That means your WORST off than when you had started 6 months ago.
2. The property DECREASES by $50,000, which means it's now worth $250,000 then your deposit of $60,000 will be (60,000/250,000=24.00%). That means your BETTER off than when you had started 6 months ago.
well done ! Im about to tackle part 2 of the assignment. This juggling motherhood, working and studying is harder than i thought it would be ! i wish there were more hours in the day!! I havnt gone on to module 2 yet. im using it as my reward for finishing the assignment, but its killing me !!!!! good luck and happy studying !!!xx
I agree with you that the juggling is difficult. I have also had trouble finding the right words in answer to the questions even though I understand what needs to be said! I guess it's just a matter of getting back into school mode again after more than 20 years!! I have only the assignments to complete in Unit 1 but have gone onto Unit 2 to keep up with the webinars. What I have found very useful, is to complete the assignment questions as I go along so it is fresh in my mind and I'm not having to look back through my notes so much. It also consolidates for me what I have just learnt. I am finding this way much easier. I am hoping to complete Unit 1 next week - I have had a lot of trouble getting my head around excell which has made things a bit slower and more frustrating but I am getting there! It is amazing though how much I feel I have learnt already and I can clearly see how a passive income can become achievable. Thanks so much Steve for putting all your experience together for us - even though I do feel you are a hard task master!! Good luck everyone!! Kelly
Like many of us, I have been frantically catching up on the course so unfortunately only did the assignment for module 1 (as a refresher a few years down the track, I could go back and do each of the assignments at the end of each session..). After doing the assignment for module 1, I found that while I assumed I knew bits and pieces, when it came to putting it into practice, I realised I was a little rustier than I thought!
A question I am having difficulty with is step 9 and 10 of the research questions. Step 9 ask us for the annual CPI rate. For the December quarter I found 3.0% (and on another website I found 179.4 points which I thought may be useful).
My difficulty is with Q10 for the aftere-tax and after-inflation return and % return. My calcualtions are:
After tax return of $1,463.36 = $1,024.35 (based on 30% tax rate).
After inflation return on $1,463.36 = $1,419.47 (inflation takes out $43.89)
I feel that I am on the wrong track here as I can't work out the % returns!!
I contacted the office as per page 1-12 in the course material and found very friendly, helpful people there. They will gladly help you with your queries.
I’m don’t it is going to make or break my assessment task, it is however a question I would like to have answered as I would like to understand how these three calculations are so different.
It seems to me that the banks can use this confusion as a “marketing” advantage. And I htought I was pretty "up" on this stuff !!! ;-)
I was interested by your calculations so went through the bank's website and entered $50,000 on their simple calculator, getting a same result as you - $51,492 - would be interesting to see how they reach these results and if they are willing to guaruntee them! Do they use a sneaky calculation that they have hidden in their T&C? I used Bank of Queensland for my example and found their interest rate calculation in their T&C..
Hi Chris, thanks for the response. hmm I couldnt find it in the T&C so I guess you just have to wait and see. :-)
I also sent the question through to the office and the answer they were looking for was the 6 months. The banks would probably use the exact number of days in the term. nearly done with my assessment, yaay!! cheers Michelle
Wow, what a buzz that was. I can happily say that with hard work comes relief, a massive relief. Module 1 assessment complete and emailed. If anyone is experiencing problems with any questions my true font of knowledge was Forums, Google, and more research. This should without a doubt be Year 10 School sylibus, looking forward to seeing that happen. What an impact it would have on the Australian community then.
Working my way through Module 1 part 1... and I have hit a couple of brick walls, luckily I am not alone as i can see others have had similar frustrations on the questions I am scratching me head about. The feedback here is great and reading through your comments is really assisting me.
Hi Can anyone clarify the last part of question 5 in module 1 assignment.$1000 per month for 25 years @ 12 % compounding monthly. I am assuming the interest is per annum but if it is $1000 per month surely after the first month of compounding it is no longer 1000 but 1010. Is the interest being added in or taken out? Is it just 1000 initial investment then compounded for the time?
Am I reading this wrong? I have almost completed the assignment now but keep going back to this one. Thanks Tam
I found this one tricky too. It is 1,000 that goes in every month, not just the original 1,000 - that wasn't clear to me from the question, but it was sent back to me for correction! You are right you would get 1010 after the first month and with the next 1000 for that month, it would be 2010 - at least that's how I did it. I used excel spreadsheet, which was brain strain I can tell you - but less brain strain than working it out manually! Because once you set up the columns and work out the right formula for each item, the spreadsheet will automatically do the calculations. So I hope you are a gun with excel, I think we will be getting more of it as we progress, and of course it is essential if we are goign to run numbers for property investing I guess. I was almost illiterate when it came to excel, but now after consulting my neighbour, my daughte and havign a brainstorming session with her, and asking the internet some pretty basic questions in google, I finally, eventually got there - after some very long breaks between attempts, as it got pretty frustrating as well as frying my brain.But it was a great sense of accomplishment when I finally learned enough excel to produce the answers and knowing it wil l have learned a useful skill.
Hey guys I am struggling to find any interest rate term deposits for 6 months in any of the papers! Can any one point me in the right direction with what paper they used to find one.
The early bird catches the worm, but the second mouse gets the cheese.
When I used http://www.infochoice.com.au to check the competitiveness of the rate of interest I again copied the table in to the assessment and highlighted in word with the drawing tool the comparative rates.
This assessment component is more around your research capabilities.
Hi Michelle,
I spoke to Steve yesterday and he confirmed that it was meant to read Businesses rather than Shares.
Hello,
When showing calculations (on a spreadsheet) to reach totals in the senarios given, must we go through the process manually or can we use formulas?
I too was uncertain how to do the answer for that question - I am struggling to figure out how to get excel to do the calculation and it seems that when I get it done, there will be 300 lines of calculations. I am going to send a query to the email address for queries to try and find out if that is what I am supposed to be doing.
Regards, beth
Hello everyone, my question relates to question 12. I understand what liquidity is, but I am clueless as to how it is of varying relevance to aged pensioners and negatively geared investors. We need to include calculations for this too, but I don't know where to begin with it. Can anyone offer some guidance? It will be much appreiciated. Thank you.
Scott
Hi Redcake, I'm no expert and I had to re read this a couple of times also. However I think what the question is trying to highlight is something like this;
Pensioners may be relying on a pension fund or the likes that only releases funds in limited amounts and there may be penalties for extra withdrawals. They may have large reserves in their saving but unable to access them.
Negatively geared investors give up some of their liquid funds by contributing themselves from their own pocket. If they do this several times they run out of cashflow and may ultimately have to convert a property into cash.
I just spoke to Renee about question 12. I like you understand what liquidity is. I was also confused as what calculations they wanted. Renee said that no calculations were needed if you have a good explanation. I had a different idea to Jamie about the answer. However, I ran both what I thought and what Jamie said and she said we were both on the right track. My idea was that an aged pensioner would be more interested in money in the bank or a term deposit as there is a stable and reliable income. That they were more likely to want to access their cash fairly quickly, compared to an investment that would take time to sell.
Hi Redcake and Jamie,
I get the impression there are many different opinions and aspects that could be taken into consideration for this question - I thought pensioners would need more liquidity because they have such a small income and might need some extra cash readily available. I thought a negative geared investor would have enough income and lots of ready cash – but then, they might need readily available cash for covering the shortfall - it would depend on the financial circumstances of the particular investor – they might need arrangements in place to provide a cash buffer. So really, I ended up wondering but wrote some comments to that effect.
I overlooked that it said “include calculations” and I don’t see what they would be needed for. I guess I think that if my answer is hopelessly wrong, the person marking my paper will let me know.
Beth
Anyone out there got any insights on how to do and present the calculations for Q5? Do we have to manually or by spreadsheet/calculator write and provide 300 lines of added on compound interest?
Hi Jamie, thanks for your advice, though I did not know where you meant for me to search - it came up with no results in google. In the meantime, I persisted with brushing up my very rusty and rudimentary excel skills and worked out the formula and set up a table. Then I asked my daughter if she knew how to make a formula repeat in the cells below, so together we worked it out - so it was a lot easier than I thought, once I sat down a couple of times and devoted myself to persisting with excel. Hope everyone else is enjoying the same success and pleasure in learning and mastering something.
All the best
Beth
Not sure why, as it came back with 803,000 results when I did it in GOOGLE ;-)
Thanks Jamie, I had another go and found some - not sure how good my maths skills are going to be at doing them though, but will give it a go sometime, just so I can understand and learn something new. Thanks
Hi guys,
If you're still stuck on this question and trying to do it via Excel, there is a formula for calculating interest that compounds more than once a year.
Check out the link to this website. I found it most useful.
http://www.viacorp.com/compound_interest.html
Cheers,
Evan
Are we to assume the interest rates are per annum? Clarification would be great. Thanks
Ann
Email Renee whi works with Steve at: renee@propertyinvesting.com
I have been emailing her questions and i am getting what i need to carry on the homework.
Mind you the homework - meaning Module 1 homework to be sent in - does take a while to do, so allow a good wekend to churn through it.
Regards,
Chrissy
:-)
Hi All,
I am chugging my way thru our assignment and was wondering if anyone could help with Q1B - I'm not really sure how to go about why a NFP charity providing community housing would benefit from the course.....other than understanding the market and the competitiion when buying property but I am not sure that is what the question is asking. Any ideas????
OMG i thought exactly the same!!!! i was gonna ring renee and have a chat to her about it. Theres a couple of questions which ive found abit vague.
Hi Everyone. Well I was a late enroller and have spent the last 2 weeks catching up. It was all a bit overwhelming at first, but now Im on a roll. I too was stuck with the question on the relevance of liquidity to the aged pensioer. I answered much the same as 'bethp'.
Arent we learning a lot. Spreadsheet, learning formulas, research, (wouldnt we be lost without Google). Anything I dont quite understand, I just google and read, google and read. The only thing Im stuck with at the moment is Part2 with the research on an add from a paper. I bought the last 3 papers every day and cant find one. Its holding me up a bit.
Well, that was my weekly post.
Hope your feeling better Steve. It couldve been worse suppose.
Hi Jenny,
I seem to remember reading somewhere on these forum boards a few weeks ago - someone asking Steve if they could find an "ad" from the net or some other method, as they don't read papers, and my recall is that Steve okayed that.
I have no recall of noticing any such ads in the papers I read of late, so I used the method of asking at my local bank, because in real life that is what I would do if I was looking for a term deposit. I went on the bank's website and picked out the matching term deposit, and then did the research project using that as my "ad". I haven't got my assignment back yet, but am assuming it will be okay.
Beth P
I used infochoice which was fine. Don't forget to untick sponsored ad's!! It will skew the result of your search
Hello, this is my first post. I am a late starter and am desperately trying to catch up to everybody else.
I am having trouble understanding Q10. Can somebody please explain this question to me in laymans terms?
Hey tweak,
I read question 10 as being, Discuss how a difference in purchase price of +/- $50,000 affects the deposit size and buying capabilites of a first home buyer. I picked a pricetag, then showed calculations to show what deposit would be required in each scenario. (eg) $250000, $300000 and $350000) and then discussed the implications of the differences of the figures. I havnt actually submitted it yet though so i havnt had any feed back on it. Hope this helps ! xx natalie
Hey tweak,
I read question 10 as being, Discuss how a difference in purchase price of +/- $50,000 affects the deposit size and buying capabilites of a first home buyer. I picked a pricetag, then showed calculations to show what deposit would be required in each scenario. (eg) $250000, $300000 and $350000) and then discussed the implications of the differences of the figures. I havnt actually submitted it yet though so i havnt had any feed back on it. Hope this helps ! xx natalie
Thanks Natalie
After reading the question 20-30 times I was starting to get the same idea as you, even down to the same amounts (great minds think alike?)
Thanks again
Tweak, I am with you. I only have Q10 left and I have been sitting on this question all week.
I get the difference in $50,000 but I do not understand how it changes the buying power. 20% is 20% no matter how much the price changes. Now if the question said how does the $14,000 First home buyers grant changes as the price goes up and down then that makes sense and I can explain that, but the question says 20% buying power not a fixed amount. I dont see how that changes as simply the buying power increases and decreases as prices change.
Am I missing something here?
Any advice or help would be great so I can get this assignment off the desk.
Thanks all.
Dean
:-)
Hi all,
Here's how I understand the question. I think the question is asking if you have 20% deposit and if the value of the property went up or down by $50,000 what effect would it have on the purchasing power as a percentage of the total price.
Say, the property you're interested in is $300,000 when you had your $60,000 deposit ($60,000 divided by 20% = $300,000). For some reason you procrastinate and don't buy the property right away and buy it in 6 months time the following can happen:
1. The property INCREASES by $50,000, which means it's now worth $350,000 then your deposit of $60,000 will be (60,000/350,000=17.14%). That means your WORST off than when you had started 6 months ago.
2. The property DECREASES by $50,000, which means it's now worth $250,000 then your deposit of $60,000 will be (60,000/250,000=24.00%). That means your BETTER off than when you had started 6 months ago.
Hope this helps and makes sense.
Cheers,
Evan
Thanks Evan , still finishing mod 1(late starter ) but your advise is much appreciated.
Libby
Assignment 1 - finished! It took 3 school days to complete but happy to have it in the post today.
well done ! Im about to tackle part 2 of the assignment. This juggling motherhood, working and studying is harder than i thought it would be ! i wish there were more hours in the day!! I havnt gone on to module 2 yet. im using it as my reward for finishing the assignment, but its killing me !!!!! good luck and happy studying !!!xx
I agree with you that the juggling is difficult. I have also had trouble finding the right words in answer to the questions even though I understand what needs to be said!
I guess it's just a matter of getting back into school mode again after more than 20 years!! I have only the assignments to complete in Unit 1 but have gone onto Unit 2 to keep up with the webinars. What I have found very useful, is to complete the assignment questions as I go along so it is fresh in my mind and I'm not having to look back through my notes so much. It also consolidates for me what I have just learnt. I am finding this way much easier. I am hoping to complete Unit 1 next week - I have had a lot of trouble getting my head around excell which has made things a bit slower and more frustrating but I am getting there! It is amazing though how much I feel I have learnt already and I can clearly see how a passive income can become achievable. Thanks so much Steve for putting all your experience together for us - even though I do feel you are a hard task master!!
Good luck everyone!!
Kelly
Hi everyone
Like many of us, I have been frantically catching up on the course so unfortunately only did the assignment for module 1 (as a refresher a few years down the track, I could go back and do each of the assignments at the end of each session..). After doing the assignment for module 1, I found that while I assumed I knew bits and pieces, when it came to putting it into practice, I realised I was a little rustier than I thought!
Just a few fiddly bits to finish assignment 1.
Cheers,
Hi everyone
A question I am having difficulty with is step 9 and 10 of the research questions. Step 9 ask us for the annual CPI rate. For the December quarter I found 3.0% (and on another website I found 179.4 points which I thought may be useful).
My difficulty is with Q10 for the aftere-tax and after-inflation return and % return. My calcualtions are:
After tax return of $1,463.36 = $1,024.35 (based on 30% tax rate).
After inflation return on $1,463.36 = $1,419.47 (inflation takes out $43.89)
I feel that I am on the wrong track here as I can't work out the % returns!!
Many thanks ,
Hello Chris,
I contacted the office as per page 1-12 in the course material and found very friendly, helpful people there. They will gladly help you with your queries.
Good luck,
Ann
$ 1,467.12
http://secure1.ubank.com.au/ub/web/term-deposits/term-deposits-overview
And I htought I was pretty "up" on this stuff !!! ;-)
To Your Prosperity
Michelle
blog: www.michellethemoneycoach.com
eBook: http://financialfreedomonyourcurrentincome.com
Hi Michelle
I was interested by your calculations so went through the bank's website and entered $50,000 on their simple calculator, getting a same result as you - $51,492 - would be interesting to see how they reach these results and if they are willing to guaruntee them! Do they use a sneaky calculation that they have hidden in their T&C? I used Bank of Queensland for my example and found their interest rate calculation in their T&C..
Cheers
Chris
Hi Chris,
thanks for the response.
hmm I couldnt find it in the T&C so I guess you just have to wait and see. :-)
I also sent the question through to the office and the answer they were looking for was the 6 months.
The banks would probably use the exact number of days in the term.
nearly done with my assessment, yaay!!
cheers
Michelle
To Your Prosperity
Michelle
blog: www.michellethemoneycoach.com
eBook: http://financialfreedomonyourcurrentincome.com
Module One = POSTED !!!!
Module One = POSTED !!!!
I finally did it! I have completed the first assessment today.
Does any body know how long it takes for it to be assessed!
Cheers
Jamie
Wow, what a buzz that was. I can happily say that with hard work comes relief, a massive relief. Module 1 assessment complete and emailed.
If anyone is experiencing problems with any questions my true font of knowledge was Forums, Google, and more research.
This should without a doubt be Year 10 School sylibus, looking forward to seeing that happen. What an impact it would have on the Australian community then.
I just sent in my module 1 assessment. Not time to relax as need to get stuck into Module 2.
Justin
Working my way through Module 1 part 1... and I have hit a couple of brick walls, luckily I am not alone as i can see others have had similar frustrations on the questions I am scratching me head about. The feedback here is great and reading through your comments is really assisting me.
Great work.
Cheers
C
Hi
Can anyone clarify the last part of question 5 in module 1 assignment.$1000 per month for 25 years @ 12 % compounding monthly. I am assuming the interest is per annum but if it is $1000 per month surely after the first month of compounding it is no longer 1000 but 1010. Is the interest being added in or taken out? Is it just 1000 initial investment then compounded for the time?
Am I reading this wrong?
I have almost completed the assignment now but keep going back to this one.
Thanks
Tam
I found this one tricky too. It is 1,000 that goes in every month, not just the original 1,000 - that wasn't clear to me from the question, but it was sent back to me for correction!
You are right you would get 1010 after the first month and with the next 1000 for that month, it would be 2010 - at least that's how I did it. I used excel spreadsheet, which was brain strain I can tell you - but less brain strain than working it out manually! Because once you set up the columns and work out the right formula for each item, the spreadsheet will automatically do the calculations.
So I hope you are a gun with excel, I think we will be getting more of it as we progress, and of course it is essential if we are goign to run numbers for property investing I guess.
I was almost illiterate when it came to excel, but now after consulting my neighbour, my daughte and havign a brainstorming session with her, and asking the internet some pretty basic questions in google, I finally, eventually got there - after some very long breaks between attempts, as it got pretty frustrating as well as frying my brain.But it was a great sense of accomplishment when I finally learned enough excel to produce the answers and knowing it wil l have learned a useful skill.
Hey;
I had to clear this up too. some the excel spreadsheet was the best option. So $1000 x 1% = $10. Then add $1000 for next month = $2010 x 1%= $20.10
Hey guys I am struggling to find any interest rate term deposits for 6 months in any of the papers! Can any one point me in the right direction with what paper they used to find one.
The early bird catches the worm, but the second mouse gets the cheese.
Hi Munmun5 ,
I am having the same problem, with not being able to find them either. I just want to get this thing finished. !!
Hey Munmun5;
I bought the sunday papers last weekend & found the same thing; smart investor or one of these magazines should help.....
Hello Munmun5, Simky, Glen,
As Bethp mentions, use the net for this as there is limited printed ads nowadays.
I did this for my assignment and submitted using the Commonwealth Bank (see http://www.commbank.com.au/personal/accounts/term-deposits/rates-fees.aspx) noting this was from online and copied the various tables in to my assessment and submitted the relevant supporting pdf’s from their site.
When I used http://www.infochoice.com.au to check the competitiveness of the rate of interest I again copied the table in to the assessment and highlighted in word with the drawing tool the comparative rates.
This assessment component is more around your research capabilities.
Regards
Dave
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