Commerce Assignment: Personal Finance
By Edmund Tan
Contents
Executive summary Page 3
Product 1 Page 4
Product 2 Page 5
Product 3 Page 6
Bibliography Page 7
Executive summary
Nature of the organisation: Kadi Bank is an organisation that provides financial services to the public. The financial services that Kadi Bank currently provides are savings accounts, home loans and superannuation. It was founded in 2014 by Edmund Tan. Kadi Bank works in the best interest of the customer meaning we won’t direct you to a product because of incentives or commission. Kadi Bank is registered with ASIC.
Ethical and/or legal obligations: Kadi Bank’s ethical and legal obligations are
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So we have decided to create a savings account with a high interest rate of 3.5%. However, you must have at least $5000 in your savings account to get the 3.5% interest rate.
Product’s target market: This product is targeted at adults aged 18 – 30 who are saving up for big and small purchases such as a house, clothing, car, entertainment or holiday. This product may also be targeted at adults aged 18 – 30 who need a secure place to store their money.
How does the product meet the needs of the target customers? This product meets the need of the targeted customers because it allows them to reach their savings goal faster and purchase the items they have been saving up for sooner. This high interest savings account is also a good place to store emergency money in case unexpected events occur such as medical bills or funeral costs.
Product 2: Low Interest Home Loan 5%
Description: A home loan is money borrowed from someone to buy a house. The borrower has possession of the property, but the lender owns the property until the loan is completely paid off. If the borrower is unable to pay off the loan, the lender will sell the property to get back the money owed. There are many different types of home loans such as standard variable rate loans, fixed rate loans, combination loans and more. Home loans may run for as long as 30 years. Home loans require a 10% deposit.
Here at Kadi Bank, we know that
v. Jessie has no spouse and can't be claimed as a dependent by someone else.
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
The process of transferring the cost of metal ores and other minerals removed from the earth to an
1. If you are borrowing money and paying interest, would you prefer an interest rate that compounds annually, quarterly, or daily? Why? (2-4 sentences. 1.0 points)
c. Smaller payments mean more time in debt. d. Your lower interest loans also get rolled into the deal so you end up with minimal savings.
My parents receive an earned income, meaning they work for it, unlike unearned income like child support and disability. My mom works as a Human Resources Director; she over sees all investigations in her facility and hires and fires people. My dad works as an Operations Sales Manager, so he over sees all of the different sales. They both have salary wages, so their income isn’t based on hours.
As I said, to make small segment by type. Like the robo-advisor is for mass market. The banks may can be the sponsor to sports or racing, it’s an effective way to be closer with the richer young consumer. The richer young consumers who I know are all love cars. None of them earns money by themselves, all are the second generation of the rich.
The CEO of Dynamic Manufacturing was at a conference and talked to a supplier about a new piece of equipment for its production process that she believes will produce ongoing cost savings. As the Operations Manager, your CEO has asked for your perspective on whether or not to purchase the machinery.
Second City Options (SCO) is a small firm that specializes in option trading. Employing 35 people, SCO is located on LaSalle Street in the Chicago financial district. It is a member firm of the Chicago Board Options Exchange (CBOE), where it trades options on stocks and stock indices. It is also a member firm of the Chicago Mercantile Exchange Group (CME Group), where it trades options on futures and the underlying futures contracts.
Brand Target Market; Women, aged in their 20-30s, Looking or achieving a healthy life style, they have an
(5 points) In a world with no frictions (i.e., taxes, etc.), having debt is always better because it increases the value of the firm/projet.
So many dreams of owning a home come to fruition because of the possibility of attaining a home loan. Home loans truly do make some beautiful dreams come true. Nothing like the joy of buying your own home, and living it up in it. It’s an achievement to be mightily proud of, in this day and age.
Baxter Video Product's sales are expected to increase by 20% from $5M in 2010 to $6M in 2011. Its assets totaled $3M at the end of 2010. Baxter is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2010, current liabilities were $1M, consisting of $250K of accounts payable, $500K of notes payable, and $250K of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 70%. Use the AFN equation to forecast Baxter's additional funds needed for the coming year.
2. Growth Potential: Our targets are youth and middle age. Today’s youth will be tomorrow’s middle age people; this is an ongoing process of life. If a teenager or young one likes our product, then whenever she will be thirty or forty, she will have a good intention about our product. So chosen segments have potential growth undoubtedly.
Declaration: I hereby declare that the submitted TMA is my own work and I have not copied any other person’s work or plagiarized in any other form as AOU instructions specify.