Welcome

Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Money Essay

Open Document

Below is an essay on "Money" from Anti Essays, your source for research papers, essays, and term paper examples.

Investing Your Money

Investment guidelines and restrictions for term deposits, savings accounts and share market (task 1 and task 2) are:

  1) The term of your investment is to be 2 years.

  2) The amount of money invested must be $6000

  3) You must provide calculations for:

        i) Westpac Bank Account,

      ii) Westpac Bank term account interest, and

      iii) Share investment growth, using National Australia Bank shares.

      iv) Westpac Bank loan interest rates and values.


Task 1:

1)

A - What is the Westpac reward saver bank account interest rate for a deposit of $6000 using the printout provided?

    - 4.60%

B – What is the current bank account using this website?

http://www.westpac.com.au/personal-banking/bank-accounts/

- 4.20%

2) How much would you have at the end of 2 years in a term deposit account offered by Westpac for a deposit of $6000?

- $6,502

http://www.westpac.com.au/personal-banking/bank-accounts/

  3) Using the graph provided estimate the value of the National Australia Bank (NAB) shares in;

  A- July 2007: $37.00

  B- July 2009: $23.70








Task 2:

  1. You deposit $6,000 into a Westpac reward saver account and don’t withdraw any money for two years. What will the balance of the account be after two years using simple interest?

    - 4.60 ÷ 100 x 6000 = $6276

  2. A) Using your answer from task 1 Q3a, how many NAB shares could you have bought for $6000 (round to the nearest share) in 2007?

      -   6000 ÷ 37 = 162 shares

      B) What was the total value of those shares at 13 July 2012 prices?

      - 23.60AUD

            3.     A) state fees associated with investment

|Fees for Reward Savers account                                                               |Amount                           |
|Online banking withdrawal                                                                     |$2.50                           |...

Show More


Citations

MLA Citation

"Money". Anti Essays. 12 Dec. 2018

<http://parimatchstavki7.com/free-essays/Money-507384.html>

APA Citation

Money. Anti Essays. Retrieved December 12, 2018, from the World Wide Web: http://parimatchstavki7.com/free-essays/Money-507384.html