Financial Analysis for Managers II Essay Example | Topics and Well Written Essays - 1000 words

Financial Analysis for Managers II - Essay Example It is a fixed amount paid on annual basis (Myers & Allen, 2005). This amount might be constant for a certain period of time or may have a steady trend for some time and may fluctuate otherwise. The annuities and the time value of money are related and affected by certain factors. These are as follows; Interest rates are the prevailing charges of availing the facility of the capital that might have been invested in an interest generating instrument or a bank account. The interest rates of advancing loans and paying on the deposits are different and that the difference is actually the monetary reward of utilizing that capital. However, the actual value of money, even when the principal amount is added up with the total interest amount received as an annuity, is normally different from what it was at the time of blocking that money into the respective reserve under question. This may have a different affect on the compounded interest approach. Since the interest is compound, therefore it yields a higher amount at each step and thus even the actual value of the total of that amount might be more than the amount actually invested depending on the terms, policies and interest rates. This introduces the concept of the present value of future payments and/or income(s) that are expected to be received (Myers Allen, 2005). This means that the present value always differs from the future value. The idea is also related to the fact about the future value of any of the long term and/or even short term investments that were made. They will seldom be equal in real terms, even when they seem to be equal as an annuity. The most commonly applied model of the time value of money is our same old compounded interest model. An amount of money 'C' for 't' years at a rate of interest of 'I'% (where interest of 15 percent" is expressed also as 0.15) compounded on annual basis, the present value of the receipt of C, t years in the future, is: Ct = C(1+i)-t = C/(1+i)t The expression (1 + i)t is a generic form of calculating almost al sorts of present value. Where the interest rate is deemed to be something which is not constant figure over the period of the investment(s), different values for 'I' may respectively be used; an investment over a two year period would then have PV (Present Value) of: PV = C(1+i1)-1.(1+i2)-1 Present value is additive. This means that the present value of a bundle of cash flows is the sum of each individual's present value. If there are no risks involved in the project i.e. the project is deemed to be risk free, the expected/forecasted rate of return from the project must equal or exceed this rate of return or else it would be better to rather invest the capital investment in these (potentially) risk free assets. If there are risks involved in any such investments or a project ventures this can be reflected through the use of a 'risk premium'. The risk premium that is required can easily be found by comparing the investment with the rate of return required from other similar projects with similar risks (Ross & Westerfield, 2007). Thus it is possible for almost all investors to take account of any uncertainty or risk factor

Analyze temples Essay Example | Topics and Well Written Essays - 750 words

Analyze temples - Essay Example The Belvedere Temple is the only remaining above ground Etruscan temple, since most Roman temples were built on top of the Etruscan temple’s ruins. The only remains of the Belvedere Temple are a partial stone wall and stone rubble. The wood roof is long gone. There is evidence of the two rows of pillars familiar to the Etruscan temples. The temple had three equal cells (Brenders). There is no evidence of what god or goddess this particular temple was built for. We can only imagine what type of religion the people who built the temple observed. Since the temple is so old, the architect is unknown. Etruscan temples like the Belvedere Temple were the inspiration for the latter Roman and Greek temples. One Roman temple built with an Etruscan influence was the Parthenon. The Parthenon was built on the Acropolis in Athens. The Parthenon was built to worship the goddess Athena. This temple was built of the Doric order. This temple was built from 447 to 432 B.C., under the leadership Of Pericles, by the architects Ictinus and Callicrates (Parthenon). The Pantheon was a rectangle building made of marble, with a central room separated by a wall (Parthenon). In one room was a statue of Athena. A walkway created a path around the center rooms. These walkways were in the shadows of the columns around the building. There were seventeen columns on the side, with eight columns on the end (Parthenon). Through out the years the Parthenon has been a temple to Athena, a Christian church dedicated to the Virgin Mary and a Mosque under Ottoman rule (Parthenon). Eventually the beautiful marble building was left in ruins after warfare in 1687. A Venetian general blew off the roof when the Ottoman sol diers used Acropolis as a garrison for their army (Parthenon). In the end, a variety of people worshiped at a temple built for Athena. The Greeks built their own temple for all of the