5 Things to Do to Ensure a High LSAT Score

The LSAT is a big deal. Don’t believe me? Check out this post with the top LSAT scores from the top 100 law schools. While GPA and LSAT score are the most important part of your law school application, LSAT takes the cake. It’s really the only way law schools have of objectively analyzing a bunch of applications with a bunch of different students. So, here are five tips to help you get the best LSAT score possible. 1. Study the Logical Reasoning section twice as much as every other section. I’ve written at length on this topic over at Magoosh. Here’s the cliffsnotes version. Most people won’t tell you this, but the LSAT is actually weighted. 50 percent of the exam is taken up by the Logical reasoning section. That’s big news if you know what to do with it. There are officially four sections on the LSAT: 1.  Reading Comprehension; 2. Logical Reasoning; 3.  Analytical Reasoning; and 4.  Logical Reasoning. In case you missed it, there are two logical reasoning sections. That means if you can increase your average score in the logical reasoning portion, it will have double the impact of an equivalent increase in your average score in the other two sections. In other words, you’re looking at a 2 for 1 deal. Who could say no to that? 2. Take official tests, but don’t do it all at once. The LSAT is great in that it gives you the chance to study actual test questions, answers, and explanations from the test creators. The point of taking these tests is to figure out what your strengths and weaknesses on the LSAT are. If you just start taking these tests in rapid succession, you may pick up some stuff, but you’ll be wasting your time. You’re better off taking 2 or 3 of them, figuring out what section you need to work on the most, and then going from there. 3. Give yourself at least 2 months to study. The LSAT isn’t one of those exams you can just take. Lots of people have done just that. Unfortunately for them, you would be hard pressed to find a single person who actually liked their resulting score. The LSAT it tough. It tests your ability to think logically, read carefully, and infer a bunch of stuff, all at the speed of light. There are a few habits you’re going to need to get in that head of yours before you take the test, and the only way that will happen is if you give yourself plenty of time to study. I hesitate at recommending only two months, but hey, it’s what I did, and it turned out alright for me in the end. 4. Time your practice tests. You have exactly 35 minutes to complete each section. That means you have roughly 1.45 minutes to complete every question. Your LSAT score doesn’t care if you mark an answer or not, and finishing early might not be the best thing for you. However, one thing is for sure, if you don’t finish the test, you’re missing out on potential points, especially since you don’t get docked points for incorrect answers. 5. Don’t study the night before the LSAT. This last tip might not seem like a big deal, but it is. You might not believe this, but chances are, if you’ve been studying for a few months, you’re not going to learn anything groundbreaking the night before that you didn’t already know. Nope. Do yourself a favor, and eat a nice early dinner, get to bed at a reasonable time, and get to the test center with plenty of time to spare in the morning. Your head will be clearer, and you’ll probably get a better score because you did. Randall Floyd earned his JD from the University of Denver in 2013. He received his BA in Communications and Social Science from the University of Washington in 2010. Check out more of Randall’s articles and LSAT tips on the Magoosh LSAT blog. Related Resources: †¢Ã‚  Time Management Tips to Make the Most of Your Test Prep †¢Ã‚  Should You Explain Your LSAT Score or Grades? 5 Things to Consider †¢Ã‚  Help! My LSAT is Low – Should I Still Apply to Law School?

Essay about segregation - 1571 Words

Race is an ambiguous concept possessed by individuals, and according to sociologists Michael Omi and Howard Winant, it is socially constructed; it also signifies differences and structure inequalities. Race divides people through categories which led to cultural and social tensions. It also determined inclusion, exclusion, and segregation in U.S society. Both inclusion and exclusion tie together to create the overall process of segregation — one notion cannot occur without resulting in the others. Segregation is a form of separation in terms of race that includes the processes of inclusion and exclusion. Race was the main factor that caused conflicts among people in society in the realms of culture, education, and residential. Historians,†¦show more content†¦Whites, or Anglos referred to by Menchaca and Valencia, viewed themselves as racially and intellectually superior to Mexicans. Therefore, Anglo and Mexican students were not allowed to mix even in an educational environment. Anglos controlled who were able to attend school with them and excluded those who were not considered smart based on their inclusive beliefs of a superior race. Tests and I.Q scores were used to justify segregation of these students and that led to unequal educational opportunities for Chicano students. (223) Exclusion of young students started out at an early period of time which affected their interactions - Anglos formulated barriers to divide themselves and include only their own people. As more students were segregated in schools based on Anglos belief in racial superiority, that led to Francis Galtons movement of eugenics to not only exclude minorities who were considered inferior, but to exterminate them to form the perfect breed. Segregation was believed to be the only method to maintain the pure white race; Anglos considered themselves to be exclusive because they were Gods chosen people.† They used the argument of what God would have wanted and that was to ban the intermingling of the superior and inferior races to exclude Mexicans from churches. (226) Another justification Anglos used to argue thatShow MoreRelatedRacial Segregation : Segregation And Segregation Essay1142 Words   |  5 PagesRacial Segregation â€Å"Segregation is that which is forced upon an inferior by a superior. Separation is done voluntarily by two equals.† This is an important and powerful quote said by the late Malcolm X. From 1849-1950 segregation took place for a little over a century. Just 4 years after that, in Brown v. Board of Education the supreme court outlawed segregation in public schools. This was the starting point in putting an end to segregation nationwide. However, is segregation really abolished? OrRead MoreRacial Segregation And Racial Residential Segregation3452 Words   |  14 Pages The United States has come a long way since the 1960s civil rights movement, yet many large, metropolitan areas within its borders still experience vast amounts of racism and segregation- especially in the area of residential living. The topic of this research draws attention to the issue of racial residential segregation, particularly in the city of St. Louis. Even though there are official laws against discr imination in jobs, housing, school, etc., much of this prejudice is still very prevalentRead MoreSegregation in the 1970s855 Words   |  4 Pagesorganized by color. The reality is this hypothetical world did in fact exist in the United States prior to the 1970s. Racial segregation is one of the most recognized branches of social stratification in American history. Jeannette Walls was a witness of the effects of segregation. She was born on April 21, 1960 in Phoenix, Arizona. 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Charles R. Tittle s Control Balance Theory - 954 Words

The aim of this paper is to present a more comprehensive understanding of Charles R. Tittle’s control balance theory. Introduced are the assumptions about human nature and criminal behavior, hypotheses, methods for testing, empirical support, limitations, and implications. This research presents the benefits of identifying similar concepts in theories and merging them to create a broader theory. Moreover, the focus of this theory is on the claim that Tittle developed a theory that can explain both conventional criminal behavior as well as elite crime. Though more research is needed, the goal of this research is to show the positive impacts of integrating theories to create a utopian general theory. Observations, conclusions, and recommendations are described in the conclusions. Introduction The purpose of this research shall be to understand Tittle’s control balance theory and how it can be used as a sole general theory of crime and deviance. This research will focus on the understanding of the theory; and the use of concepts with similar meanings, and the fusion of them to form one common theme. Tittle’s theory can be used to explain a vast amount of deviant behavior ranging from white-collar crime, to street crime and states that the main problem is finding the balance of control. This theory is an ideal theory with massive potential because it makes sense, it is intuitive, and it is parsimonious (Akers Sellers, 2013). Findings Origins In 1995, Charles R TittleShow MoreRelatedIntegrated Theories of Criminal Justice Essay example3632 Words   |  15 PagesIntegrated Theories of Criminal Justice Abstract Two theorist and theories that have been recognized by many involved in the criminal justice field are Ross L. Matsuedas Theory of Differential Social Control, and, Charles R. Tittles Control Balance Theory. Matsuedas theory, (1) identifies a broader range of individual-level mechanisms of social control, (2) specifying group and organizational processes for controlling delinquency, (3) conceptualizing classical criminological theories as specialRead MoreSocial Controls Essay2969 Words   |  12 PagesCritically evaluate the claim that it is social controls that prevent us all from committing crime. This essay will thoroughly examine and evaluate the claim that it is social controls that prevent us from committing crimes by looking at different social control theories. Firstly we must determine what a social control theory consists of, according to Hopkins (2009) ‘social control theory is fundamentally derived from a conception of human nature that proposes that there are no natural limitsRead More Differential Association Essay3062 Words   |  13 Pagesstudies completed he began work at the University of Minnesota from 1926 to 1929 where his reputation as a leading criminologist was enhanced. At this time, his focus became sociology as a scientific enterprise whose goal was the understanding and control of social problems, including crime. (Gaylord, 1988:13) After his time at Minnesota he moved to Indiana University and founded the Bloomington School of Criminology at Indiana University. While at Indiana, he published 3 books, including Twenty ThousandRead MoreEssay on Criminological Theories13456 Words   |  54 PagesStudent Study Guide for Ronald L. Akers and Christine S. Sellers’ Criminological Theories: Introduction, Evaluation, and Applications Fourth Edition Prepared by Eric See Youngstown State University Roxbury Publishing Company Los Angeles, California 1 Student Study Guide by Eric See for Criminological Theories: Introduction, Evaluation, and Application , 4th Edition by Ronald L. Akers and Christine S. Sellers Copyright  © 2004 Roxbury Publishing Company, Los Angeles, California

Effects of Capital Structure on Profitability of a Firm

Question: Discuss the Effects of Capital Structure on Profitability of a Firm. Answer: Introduction Capital structure is the combination of debt and equity finance that a company utilizes in its operations that involves a mixture of various securities. Generally, companies can opt for alternative ways of raising capital. Some of the methods of raising capital include warrants, issue convertible bonds, or swapping trading bonds. In addition, firms can choose numerous types in order to maximize its market value (Abor, 2005). According to Azhagaiah and Gavoury (2011), the firms best choice is a mix of equity and debt finance to fund its capital operations. In situations where interest is not taxable, firms would be undecided as to whether to seek equity or debt financing whereas when interest is taxable company owners would seek maximization of the companys value by fully utilizing debt finance. Agency costs arise from use of debt financing. An agency cost is the association between the shareholders and the managers of the firm and that between the owners of debt and the shareholders (Jensen and Meckling, 1976). According to the pecking order theory, companies may opt to sell equity when there is an over-valuation in the market. This is based on the hypothesis that the managers will opt for the current shareholders concerns (Myers, 1984; Chittenden et al., 1996). Accordingly, they deny issuing under-valued shares unless the transfer value from the initial shareholders to the new ones covers the NPV of the prospect of growth. Abor (2005) concludes that new shares are issued only when the price is high than that of the real market value of the shares. Consequently, investors infer equity issuance as a sign of overpricing. In situations where external funding is indispensable, the firm will choose secured debt as opposed to debt that is risky and as such, firms issue ordinary share as a last option (Ibid). 2005) Settling on an erroneous combination of capital structure serious affects the firms performance and its survival is thereby threatened. Therefore, a companys decision to choose financing options involves a variety of policy decisions that may be beyond the control of the board of directors. Such decisions may jumpstart stock securities growth, determination of share prices as well as price regulation and interest rate. The decisions made affect capital structure, corporate governance and firm growth at the grass root level (Green et al ,2002). Booth et al. (2001) and Bas et al.(2009) postulate that awareness of capital structure strategies have relied on developed economies since they possess similar institutions. Distinct social and cultural aspects need to be investigated since levels of economic advancement contribute to how a firm chooses its capital structure. As such, this study will endeavor to establish the effects of capital structure on profitability by examining the factors that influence capital structure decisions for firms in Australias such this paper attempted to determine the effect of profitability, firm size and liquidity on capital structure... Literature review: The idea of capital structure and its relationship with profitability and firm value has always been a subject of debate among scholars. Various researchers affirm that there exists a good combination of capital structure to a firms unique needs while others argue that the degree of debt finance is not important to determine the profitability of a company. Hence, the concept of capital structure is arguably debatable. According to Brealey and Myers (2003) the selction of capital structure is fundamentally a problem associated with marketing. They argue that a firm may issue various mixtures of capital strategies but should also try to seek specific capital mix that maximizes the value of shares. Wald and Brigham (1992) add that the optimal capital structure is one that will maximize the value of shares. The capital structure concept provided an opportunity for various theories to be formulated (Modigliani Miller, 1958). In situations where a firm is new or is a going concern, it needs funds for its daily operations to achieve success. The funds sought are for the daily operations of the firm and or expansion of the company. This indicates the importance of capital in the life cycle of a company (Azhagaiah Gavoury, 2011). When capital is acquired especially from external sources, it becomes a concern to the business because it is other parties funds that are utilized that need to be compensated while the company derives full benefit from those funds. In such a case, such finances become a liability to the firm in their books of accounts (Ibid). Myers (2001) notes that there is no universally accepted theory on the choice of a firm choosing between debt and equity finance but notes that some theories have endeavored to expound on capital structure combination. He cites the trade-off theory that states, Firms seek debt levels that balance the tax advantages of additional debt against the costs of possible financial distress. The way a company funds its operations is determined by its capital structure. This can be between a choice of debt finance or equity finance (David, 1979). The theory of capital structure is attributable to Modigliani and Miller who concluded that the way a firm finances its operations has no effect on its value and that the value is not connected to the firms funding strategy. Other theories have been suggested to explain capital structure. Notably the pecking order theory, life cycle theory and the trade-off theory that have continuously been the bone of contention among critics. Interest rates are costs associated with borrowing for a specific period of time. Interest rates are normally pegged on the prevailing inflation of an economy hence a major issue for a firm when choosing capital structure strategy. Research suggests that interest rates have an effect on the firms choice of capital. According Jalilvand and Harris study of 1984 in the United States results obtained suggested that firms funding decisions are intertwined and that the size of the firm, interest rate situations and levels of stock price affect the rate of adjustment to capital structure suggesting that they are manipulated by it. According to Singh (1993), an interest rates increase, investment reduces and as interest reduces, investment activities are revamped. This may mean utilizing more debt finance. Singh concluded therefore, that there is an association between investment, utilization of debt finance and interest rate. In his study of the relationship between capital structure and profitability of listed non-financial firms in Kenya, Kinyua (2014) using regression analysis revealed that a firms profitability (using return on equity ROE as an independent variable) had a positive relationship with short-term debt. In another study, Githire and Muturi, (2015) found the short-term debt had a significant negative correlation with performance of the firm. They used the explanatory non-experimental research model using multiple regression to test and test the hypotheses. Accordingly, the empirical studies cited above found conflicting results of the relationship between capital structure and profitability based on different economies (developing or developed) and or methodologies used. For instance Kebwars study of 2014 on the effect of debt on corporate profitability using the French service sector, examined the influence of debt on profitability by using Generalized Method of Moments (GMM) on an unequal panel consisting of 2,240 French firms for the period 1999 to 2006. His analysis involved examining the linear and non-linear effect by approximating a quadratic model that considers the square of debt variable in the regression equation. The results of the study showed that there neither a linear nor a non-linear relationship between debt and profitability. This further evidenced Baum et al, (2007) study on American firms. However, Nima et al (2012) had found a significant relationship between profitability as the dependent variable replaced by ret urn of equity (ROE) and total debt. They studied Tehran Stock Exchange firms between 2006 and 2011 by measuring performance using gross profit margin, return on assets (ROA) and Tobins Q and three-capital structure ratios that included total debt ratios as independent variables. Similarly, Arbabiyan and Safari, (2009) investigated the effect of capital structure on profitability by using 100 Iranian listed firms from 2001 to 2007 and found that total debt is positively related to profitability proxied by ROE. These differing results and others not cited have prompted the researcher investigate further the effects of capital structure on the profitability of a firm. In addition, no current study has been done in Australia on the effects of capital structure on profitability therefore prompting the researcher to undertake this study. Research questions The study will be guided by the following research questions; What is the effect of long-term debt on profitability of firms listed at Australian Securities Exchange (ASX)? What is the effect of short-term debt on profitability of firms listed at Australian Securities Exchange (ASX)? What is the effect of total debt on profitability of firms listed at Australian Securities Exchange (ASX)? Research Hypotheses H0: There is no significant effect of long-term debt and profitability of firms listed at Australian Securities Exchange (ASX). H0: There is no significant effect of short-term debt on profitability of firms listed at Australian Securities Exchange (ASX). H0: There is no significant effect of total debt on profitability of firms listed at Australian Securities Exchange (ASX). Description of the Research Process Methodology As opined by Flick (2015) while conducting a research, it is important for the researcher to select the right methodology of research. It can be identified as one of the major prerequisites of successful achievement of the declared research outcome. This study will utilize data derived from the Australian Securities Exchange (ASX) website and published financial statements of joint stock companies listed on the Australian Securities Exchange (ASX) 2011-2015. Financial sector including banks and insurance companies will be excluded from this study as they differ from non- financial firms as Diamond and Rajan (2000a) point out, bank assets and functions are not the same as those of industrial firms. In reality, banks and insurance companies are controlled by regulations such as rules of depositing minimum capital. The researcher will use the following variables listed in the table below adopted from Madah et al (n.d). 1 ROE Return on Equity Dependent Variable 2 LDA Long Term Debt Independent Variable 3 SDA Short Term Debt 4 TD Total Debt 5 FIRM SIZE Log of Sales Control Variable 6 SG Sales Growth Table 1: Research Dependent, Independent, and Extraneous Variables Source: Adopted from Madah et al. Project Plan Figure 1 below shows the project plan with the various timelines with milestones for each process that will take place. Figure 1: Gantt chart Research process Figure 2 below depicts the entire research process. Figure 2: The Research Process Source: Developed by the Researcher (2016) Data collection and analysis Sample The sample size will be from all the firms listed in Australian Securities Exchange excluding banks and insurance firms. Technique: The study will be carried out using a longitudinal research design, utilizing secondary quantitative data. This type of research design involves a researcher conducting numerous observations of the same cases over a period normally for several years. It is a study that involves examining data for a long period (Cooper Schindler, 2003). The study will rely purely on accounting data of firms listed at Australian Securities Exchange (ASX). Analysis: Descriptive statistics will be carried out on the quantitative data by measuring the mean, median, mode and the standard deviation. Inferential statistics will be used to determine the cause and effect between the independent variables (Long-term debt, short-term debt and total debt) and the dependent variable (profitability). Analysis of variance (ANOVA) will be used for the extraneous variables which is this case will be sales growth and firm size. ANOVA will assist the researcher determine whether there is an association between the variables and if so, whether it is significant. This will be done by observing the p-value and where it is less than alpha level of 0.05 we will reject the null hypotheses. The researcher will also adapt the Madah et al two models One will determine the association between all the variables while the other will be a regression model. Multiple regression analysis will be used to determine the relationship between the independent variables and the dependent variable and whether the relationship is significant to reject or retain the null hypotheses. This type of analysis will be chosen since it will also reveal the degree of variability between the dependent and independent variables. An alpha or significance level of 5% (0.05) will be preferred throughout the analysis. The results of regression analysis 1203 observations of 201 firms .The regression formula adapted from Madah et al for the analysis will be: ROE it = 0 + 1 (LDA it) + 2 (SIZE it) + 3 (SG it) + ROE it = 0 + 1 (SDA it) + 2 (SIZE it) + 3 (SG it) + ROE it = 0 + 1 (DA it) + 2 (SIZE it) + 3 (SG it) + Where: ROE i,t is EBIT divided by equity for firm i in time t; LDA i,t is long term debt divided by the total capital for firm i in time t; SDA i,t is short term debt divided by the total capital for firm i in time t; TD i,t is total debt divided by the total capital for firm i in time t; SIZE i,t is total debt divided by the total capital for firm i in time t; SG i,t is total debt divided by the total capital for firm i in time t; and is the error term. Expected outcome: As the literature review shows, there are different outcomes of results on the effect of capital structure on profitability. The results of the current study are expected to shed more light in inconclusive debate of effects of capital structure on profitability of firms. The results will be beneficial to different stakeholders key among them the firm owners, stockholders, lending institutions and various government institutions. It will also provide a reference point for other researchers to explore further the effects of capital structure on profitability. As studied from the literature review it can be expected that a sheer impact of the advertisements on the customers buying decision will be established. The first hypotheses can be expected to be supported by the research outcomes. The result will provide a light on the factors those can be manipulated by the advertisements and it can be surly utilized by the entrepreneurs and future studies. References and Bibliography Arbabiyan, Ali-Akbar Safari, Mehdi, (2009). The effect of capital structure on profitability in the listed firms in Tehran Stock Exchange. Journal of Management Perspective, 33: 159-175. Azhagaiah, Ramachandran and Gavoury, C., (2011). The Impact of Capital Structure on Profitability with Special Reference to IT Industry in India Managing Global Transitions 9 (4), pp. 371392. Baum, C.F., Schafer, D. and Talavera, O., (2007). The Effect of Short-Term Liabilities on Profitability: The Case of Germany, Money Macro and Finance (MMF) Research Group Conference 2006, 61. Brealey, R. A., Myers, S. C. (2003). Principles of Corporate Finance. Boston: Mc Graw Hill. Brigham, E., and Gapenski, L., (1996). Financial Management. Dallas, Dryden Press. Cooper Schindler, D.R., (2003). Business Research Methods, (8th Edition). New York, NY. McGraw-Hill. Diamond, D. W. and Rajan, R. (2000): A theory of bank capital, Journal of Finance, 55, pp. 243 2465. Fischer, E.O., Heinkel, R. Zechner, J., (1989). Dynamic capital structure choice: Theory and tests. The Journal of Finance, 44(1), 19-40. Flick, U. (2015) Introducing research methodology: A beginners guide to doing a research project. London, United Kingdom: SAGE Publications. Githire, C. Muturi, W., (2015). Effects Of Capital Structure On Financial Performance Of Firms In Kenya: Evidence From Firms Listed At The Nairobi Securities Exchange. Available online from https://ijecm.co.uk/wp-content/uploads/2015/04/3427.pdf Jalilvand, A., Harris, R.S., (1984). Corporate behavior in adjusting to capital structure and dividend targets: An econometric study. The Journal of Finance, 39(1), 127-145. Kinyua, N.K.G., (2014). The Relationship Between Capital Structure And Profitability Of Listed Non-Financial Firms In Kenya. Kodongo, Mokoaleli-Mokoteli and Maina, (2014). Capital structure, profitability and firm value: Panel evidence of listed firms in Kenya. Modigliani, F., Miller, M. (1958). The cost of capital,corporate finance and the theory of investment. American Economic Review , 261-97. Myers, S.C., (2001). Capital structure. Journal of Economic perspectives, 81-102. Nima, S.S., Mohammad, M.L., Saeed, S. Zeinab, T.A., (2012). Debt Policy and Corporate Performance:Empirical Evidence from Tehran Stock Exchange Companies.International Journal of Economics and Finance, 4 (11), 217-24. Singh, A., (1997). Financial liberalisation, stock markets and economic development. The Economic Journal, 107(442), 771-782. Wald, J. F., Brigham, E. F. (1992). Essentials of Managerial Finance. Hinsdale,IL: The Dryden Press.

Two Kinds by Amy Tan free essay sample

The story takes place around 1960’s, where the narrator talks about her childhood and 1980’s towards the end when she had grown up to be an adult about thirty years old. In the sixties, many Chinese immigrants came to America to persuade their American Dreams. â€Å"American dream† was first attributed in James Truslow Adams’s 1931 book The Epic of America, where he refers the dream as â€Å"a dream of a land in which life should be better and richer and fuller for everyone, with opportunities according to ability or achievement. † Another key aspect of the dream is freedom, the freedom to pursue happiness in life in this new world. The conflict between Jing Mei and her mother represents the conflict of the two generation of Chinese immigrants in pursuing their American Dream. The first generation, Jing Mei’s mother, who suffered hard life in China before coming to America, emphasized more on survival in her dreams, such as to open a restaurant, to buy a big house, to be rich and famous, whereas, the daughter, who was born in the new land, never go through the hardship of life like her mother, believes in her dream of being happy, free, and most of all, being just the way she is. We will write a custom essay sample on Two Kinds by Amy Tan or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Jing Mei’s mother lost everything in China including her twin daughters before she came to America. She believes in the American dream of success and tried her very best to turn Jing Mei into a famous prodigy. She works hard to provide her daughter ways to success. She took her to beauty training school to have her hair styled, took dozens of magazines from the houses she cleans so that Jing Mei could be knowledgeable and even provides free house cleaning for her piano teacher in exchange for her piano lessons. Her strong and willful character is well represented the first generation Chinese immigrants. Instead of lamenting over the hardship she had in China, she moves on to create happiness and success in the new land. She was confident that her daughter can be a prodigy if only they can locate her talent and nurture it well. Unfortunately, her effort leads to a deep resentment in Jing Mei. The protagonist and narrator, Jing Mei is the American-born daughter who struggles with the burden of failing to meet her mother’s expectations. She tells the story of her childhood under the pressure of her mother who kept trying to make her a famous prodigy. Although Jing Mei was excited about her mother’s plan at first, as time goes on, when the tasks got harder and harder, she failed to achieve them. Many times, after seeing her mother’s disappointed face she felt â€Å"something inside her began to die†. This shows that in she loves her mother and was afraid to see disappointment in her mother’s attempt to find her talent. Jing Mei lost her confidence and decided not to response to her mother’s effort in nurturing her. Jing Mei’s mother holds on strongly to her Chinese culture. She always uses Chinese language when she speaks to her daughter. She said, â€Å"Ni kan,†¦Ã¢â‚¬ ¦. † But she did not realize that in her way of pursuing her American dreams, she sacrificed her own culture. She forced her child to read Western magazines, she sent her to church and made her memorized the bible. By doing so, she created a culture difference between the two of them which leads to many misunderstanding. Being born in America, Jing Mei had a very independent behavior but her mother thinks that she is disobedient. This shows the difference perceptions of the two generations and they do not share the same views on things. Jing Mei struggles to find her own sense of identity against her mother’s wishes and feels that she can be successful through her own effort and determination. She felt that her mother was trying to control her and decided to do things her own way. The situation worsened when both of them failed to communicate with each other. They never listened to each other, and ended up being further apart. She was determined and tried many ways to annoy and displease her mother to end her domination and control, but her mother continued to push on. At last her mother gave up on her when she hurt her by saying that she wished she was dead like the twins she left behind in China. At the end of the story, Jing Mei realized her mistakes after her mother passed away and gave her the piano as a memory. Jing Mei thinks that her mother’s criticism are signs of lack of affection, but the fact is, her mother’s severity and high expectation are the results of her love and faith in her daughter. The mother’s traditional Chinese values of filial obedience, criticism-enveloped expressions of love, and concealment of excessive emotions clash with the daughter’s American ideas about autonomy, free and open speech, and self-esteem. However, as Jing Mei grown up as an adult, she ultimately reconciles some of these cultural and generation differences. Like all mothers, Jing Mei’s mother forgave her hurtful words and offered her the piano on her thirtieth birthday. When Jing Mei played the piano for the first time since childhood, she noticed the piece on the page opposite from the â€Å"Pleading Child† is called â€Å"Perfectly Contented†. She gets to realize that â€Å"they were two halves of the same song†. The names of the two- parts song are very ironic. Despite the differences of Jing Mei and her mother, they were like the songs, they may disagree but they made one stunning song. The song symbolized Jing Mei’s life. During her childhood, she had felt dissatisfied with her life and with the choices she was forced to make. As an adult, when she was offered the piano, she knew that her mother had forgiven her. Therefore she had found her inner peace. She had reconciled the issues of her failures and knew that her mother never considered them failures. It was just the love from a mother that she had for her daughter. Although Amy Tan tells the story of an American Chinese experience, the issues in Two Kinds are universal because the story explores themes of family, their relationship as well as the conflicts of culture which are applicable to all people disregard with their nationality, religion or race. Such themes actually apply to Asian families as well, as love and affection is universal. References: 1. TAN. A, The Joy Luck Club, New York: Ivy Books. 1989, pg 132-148 2. Huntley, E. D. Amy Tan: A Critical Companion. Westport, Connecticut: Greenwood Press, 1998. 3. James Truslow Adams, The Epic of America, New York, 1931. 4. dialnet. unirioja. es/descarga/articulo/69045. pdf 5. http://salempress. com/Store/pdfs/joy_critical_insights. pdf

Time Value of Money and Present Value Essays

Time Value of Money and Present Value Essays Time Value of Money and Present Value Paper Time Value of Money and Present Value Paper Date: 14/11/2012 52. Annuities: You are saving for the college education of your two children. They are two years apart in age; one will begin college 15 years from today and the other will begin 17 years from today. You estimate your children’s college expenses to be $23,000 per year per child, payable at the beginning of each school year. The annual interest rate is 5. 5 percent. How much money must you deposit in account each year to fund your children’s education? Your deposits begin one year from today. You will make your last deposit when your oldest child enters college. Assume four years of college Solution: Cost of 1 year at university = 23,000 N=4 I=5. 5% PMT=23,000 CPT PV = 80,618. 45 For the first child the PV = 80,618. 45/ (1. 055) ^14 = $38,097. 81 For the second child the PV = 80,618. 45/ (1. 055) ^16 = $34,229. 07 Therefore the total cost today of your children’s college expense will be the addition of the 2 = $72,326. 88 This is the present value of my annual savings, which are an annuity, so to get the amount I am supposed to save each year would be: PV=72,326. 88 N=15 I=5. 5 CPT PMT = 7,205. 6 57. Calculating Annuity Values: Bilbo Baggins wants to save money to meet three objectives. First, he would like to be able to retire 30 years from now with retirement income of $25,000 per month for 20 years, with the first payment received 30 years and 1 month from now. Second, he would like to purchase a cabin in Rivendell in 10 years at an estimated cost of $350,000. Third, after he passes on at the end of the 20 years of withdrawals, he would like to leave an inheritance of $750,000 to his nephew Frodo. He can afford to save $2,100 per month for the next 10 years. If he can earn an 11 percent EAR before he retires and an 8 percent EAR after he retires, how much will he have to save each month in years 11 through 30? Solution: First we get the FV of the 2,100 savings over 10 years Bilbo Baggins can afford to save $2,100 dollars per month for the next 10 years therefore at 10 years he would have saved: PMT = 2,100 I = 10. 48 / 12 = 0. 873 N = 10 x 12 = 120 CPT FV = $442,201. 15 So after 10 years he would be able to purchase his yacht at the price of $350,000, and he would be left with a balance of $92,201. 15 This $92,201. 15 will be our current PV at year 10. At year 30, the year when Bilbo retires, the $92,201. 15 would become 92,201. 15*(1. 11) ^20 = $620,283. 23 Second we have to find out how much the inheritance of 750,000 would be at year 30: 750,000/1. 8^20= $160,911. 16 Third In order for him to be able to withdraw a sum of 25,000 per month for the next 20 years after his retirement, we should now calculate this annuity’s present value: N= 20 x 12 = 240 I= 7. 72 / 12 = 0. 643 PMT= 25,000 CPT PV = $3,052,135. 26 Adding up the PV’s of the $750,000 and the annuity, we will get $3,213,046. 32 We will subtract the future value at year 30 of the $92,201. 15 ($620,283. 23) which we saved at year 10 from $3,213,046. 32 to get $2,592,763. 09 We are now left with an annuity that pays $2,592,763. 09 at year 30, and a time period of 20 years (yr11-30) To calculate the yearly PMT, we have FV= $2,592,763. 09 I= 10. 48 / 12 = 0. 873 N= 20 x 12 = 240 CPT PMT = 3,207. 33 Therefore the monthly PMT Bilbo would have to save each month through years 11-30 would be = $3,207. 33 34. Valuing bonds: Mallory Corporation has two different bonds, currently outstanding. Bond M has a face value of $20,000 and matures in twenty years. The bond makes no payments for the first six years, then pays $1,200 every 6 months over the subsequent eight years, and finally pays $1,500 every 6 months over the last years. Bond N also has a face value of $20,000 and a maturity of 20 years; it makes n coupon payments over the life of the bond. If the required return on both these bonds is 10% compounded semiannually, what is the current price of bond M? Of bond N? Solution: The price of a bond is equal to PV of expected future cash flows Bond M: Face value 20,000 Present value of 20,000 = 20,000/ (1. 05) ^40 = $2,840. 91 First we need to get the present value of the annuity for the 1,500 semiannual PMTs at year 14 Present Value of Annuity = $13,295 $13,295 becomes $3,391 at year 0 We then get the annuity of the 1,200 semiannual PMTs at year 6, and then at Present Value $13,005 at year 6 with a PV of $7,242 at year 0 The sum of the 3 PV’s gives us the value of the bond ,841 + 3,391 + 7,242 = $13,474 Bond N Face value 20,000 Present value of 20,000 = 20,000/ (1. 05) ^40 = $2,840. 91 38. Non-constant growth: Storico Co. just paid a dividend of aud 3. 5 per share. The company will increase its dividend by 20% next year, and will then reduce its dividend growth rate by 5% per year, until it reaches the industry average o f 5% industry average growth, after which the company will keep a constant growth rate forever. If the required return on Storico stock is 13%, what will a share of stock sell for today? Solution  : D0 = $3. 5 D1= 3. 5*1. 2= $4. 2 D2= 4. 2*1. 15= $4. 3 D3=4. 83*1. 1= $5. 31 D4=5. 31*1. 05= $5. 58 Since the first 4 periods are different we get the PV of each one alone, then as of the 4th year we get the perpetuity of the rest, and sum them up to get the final NPV We now get the PV of each Dividend PV D1 = 4. 2/ (1. 13) = $3. 72 PV D2 = 4. 83/ (1. 13) ^2 = $3. 78 PV D3 = 5. 31/ (1. 13) ^3 = $3. 68 So the PVs of D1+D2+D3 = $11. 18 NPV of perpetuity at constant growth = 5. 58(0. 08) / (1. 13) ^3 = 69. 75 / (1. 13) ^3 = $48. 34 NPV perpetuity + NPV dividends = NPV price of stock today 48. 34 + 11. 18 = $59. 52

Domestic Violence Against Women in Malaysia Essay

Domestic Violence Against Women in Malaysia - Essay Example A domestic partner can be a married partner or unmarried partner staying together. After the introduction, the statement of the problem related to domestic violence is provided along with the research and scope of the study. In the second chapter, the Historical background of Malaysia has been mentioned. This section would help to understand the culture and values that exist in the country. Furthermore, it will allow the readers to gain an interest about the topic after knowing the historical values of the country. In this section different issue related to Malaysian society has also been discussed. Domestic Violence in Malaysia has been discussed in this section along with the regulations and support system that protect women from the abuses. In the third chapter some regulations that protect the women have been discussed thoroughly. In the fourth chapter the gaps in the regulations have been mentioned. The fourth chapter provides information about the limitations of the laws and regulations that have been incorporated in Malaysia against domestic violence. The fifth chapter is very important because it provides the literature review of the essay. In the fifth chapter the rights and positions of the Muslim women residing in Malaysia has been discussed. This section also mentions about the preaching of Islamic culture and information about the Sharia Law. In this chapter some theories about the causes of domestic violence has been provided along with the conceptual framework of domestic violence in Malaysia. The gaps in the literature has also been mentioned in the section due to which the issues related to domestic violence in Malaysia has not been in regular discussion by other nations. The sixth chapter provides inform ation about the different type of disturbances and injuries that females of Malaysia had to experience. Finally, some recommendations have been provided in the