Introduction
Chapter five will describe single payments, ordinary annuities, annuities due, perpetuities, and uneven cash flow streams. You will use time lines to show when cash flows occur; and complete time value problems.
Readings and Materials
Textbook Readings
Brigham: Chapter 5 – Time Value of Money
Websites
Money.msn.com/retirement (Links to an external site.) http://www.msn.com/en-us/money/retirement
Ssa.gov (Links to an external site.) https://www.ssa.gov/
Choosetosave.org/calculators (Links to an external site.) http://choosetosave.org/calculators/
PowerPoint Presentation
Brigham Chapter 5Preview the document (attached)
Unit 3: Current Event Article
Go online to search for a current event or article that exemplifies or applies the chapter concept(s).
Step 1 Post your response as an initial post.
Include the URL to the article
Identify the concept referenced in the article
Explain how the concept is applied in the article
All postings should contain appropriate grammar, correct spelling and citations,and be relevant to the discussion topic.
Each initial response should be 100-150 words.
Respond to at least two fellow students’ posts.
Reinforce their work, add additional information, or ask for clarification in regards to their answer.
Each response should be 100-150 words.
Step 2 Students post needing response
Patricia F.
Current Event Article:
Mortgage Rates Will Rise in 2021, According to 5 Experts, Here’s What That Means for You: https://time.com/nextadvisor/mortgages/mortgage-predictions-2021/ (Links to an external site.)
Published Date: January 20, 2021 by Jason Stauffer
In this article written by Jason Stauffer, it explains why five different experts believe mortgage rates will rise this year, 2021. Interest rate is the percentage that a lender will charge you for lending you money. APR reflects the interest rate in addition to the feed you pay directly to the lender, broker, or both. These may include origination charges, discount point, etc. These fees are added into the loan, and APR takes these into account. This is why APR is higher than interest rate. Logan Mohtashami, Housing Data Analyst at HousingWire, stated, “The COVID-19 crisis was a deflationary event that sent bond yields and mortgage rates lower than they traditionally would have gone in a normal recession.” His stance involves the health of the economy and how we handle COVID-19 will determine how high mortgage rates will increase. If there is steady growth in the economy, then mortgage rates will rise throughout the year. On the other coin, Lawrence Yun who is a chief economist with the national association of realtor believes mortgage rates will stay stable throughout the upcoming year.
Stauffer, Jason. “Mortgage Rate Predictions for 2021.” Time, Time, 20 Jan. 2021, time.com/nextadvisor/mortgages/mortgage-predictions-2021/.
Kalvin N.
What Every Retirement Saver Needs to Know about 2021.
AARP
URL – Changes Retirement Savers Need to Know About 2021 (aarp.org) (Links to an external site.)
The first page of Chapter 5 discussed how important the time value of money is for those planning their retirement. The textbook referenced that most people rely upon Social Security as “an important source of their retirement” (Brigham, 139).
The current events article that I selected deals with changes in a number of retirement venues, including Social Security. In 2021 the Social Security Administration (SSA) announced a 1.3% COLA (cost of living adjustment) for Social Security and Supplementary Security Income (SSI) beneficiaries starting in January 2021. This is important as we learned by doing PV and FV calculations, the cost of inflation can really impact the value of the Future benefit. Had SSI not approved the annual COLA, the value of the SSI would be much less for recipients in 2021. The great thing about SSA is that they tend to provide an annual COLA which over time protects the beneficiaries cost of living.
Reference:Brigham, E. F. (1989). Fundamentals of financial management. Chicago: Dryden Press. Chicago (14th ed.) Brigham, Eugene F. 1989.
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