The Math of Simple Debt Amortization

Incurring debt and making a series of payments to reduce this debt to nil is something you are very likely to do in your lifetime. Most people make purchases, such as a home or auto, that would only be feasible if we are given sufficient time to pay down the amount of the transaction. This is referred to as amortizing a debt, a term that takes its root from the French term amortir, which is the act of providing death to something. Amortizing a Debt The basic definitions required for someone to understand the concept are:1. Principal: The initial amount of the debt, usually the price of the item purchased.2. Interest Rate: The amount one will pay for the use of someone elses money. Usually expressed as a percentage so that this amount can be expressed for any period of time.3. Time: Essentially the amount of time that will be taken to pay down (eliminate) the debt. Usually expressed in years, but best understood as the number of an interval of payments, i.e., 36 monthly payments.Simple interest calculation follows the formula:​  I PRT, where I InterestP PrincipalR Interest RateT Time. Example of Amortizing a Debt John decides to buy a car. The dealer gives him a price and tells him he can pay on time as long as he makes 36 installments and agrees to pay six percent interest. (6%). The facts are: Agreed price 18,000 for the car, taxes included.3 years or 36 equal payments to pay out the debt.Interest rate of 6%.The first payment will occur 30 days after receiving the loan To simplify the problem, we know the following: 1. The monthly payment will include at least 1/36th of the principal so we can pay off the original debt.2. The monthly payment will also include an interest component that is equal to 1/36 of the total interest.3. Total interest is calculated by looking at a series of varying amounts at a fixed interest rate. Take a look at this chart reflecting our loan scenario. Payment Number Principle Outstanding Interest 0 18000.00 90.00 1 18090.00 90.45 2 17587.50 87.94 3 17085.00 85.43 4 16582.50 82.91 5 16080.00 80.40 6 15577.50 77.89 7 15075.00 75.38 8 14572.50 72.86 9 14070.00 70.35 10 13567.50 67.84 11 13065.00 65.33 12 12562.50 62.81 13 12060.00 60.30 14 11557.50 57.79 15 11055.00 55.28 16 10552.50 52.76 17 10050.00 50.25 18 9547.50 47.74 19 9045.00 45.23 20 8542.50 42.71 21 8040.00 40.20 22 7537.50 37.69 23 7035.00 35.18 24 6532.50 32.66 This table shows the calculation of interest for each month, reflecting the declining balance outstanding due to the principal pay down each month  (1/36 of the balance outstanding at the time of the first payment. In our example 18,090/36 502.50) By totaling the amount of interest and calculating the average, you can arrive at a simple estimation of the payment required to amortize this debt. Averaging will differ from exact because you are paying less than the actual calculated amount of interest for the early payments, which would change the amount of the outstanding balance and therefore the amount of interest calculated for the next period.Understanding the simple effect of interest on an amount in terms of a given time period and realizing that amortization is nothing more then a progressive summary of a series of simple monthly debt calculations should provide a person with a better understanding of loans and mortgages. The math is both simple and complex; calculating the periodic interest is simple but finding the exact periodic payment to amortize the debt is complex.

Should Marijuana Be Legalized Essay - 1887 Words

Due to the elevated desire of marijuana in the United States, â€Å"advocates think legalization reduces crime, raises tax revenue, lowers criminal justice expenditures, improves public health, bolsters traffic safety, and stimulates the economy† (Dills, et al.). Twenty-eight states have now been legalized for medicinal use of marijuana; of those twenty-eight states, six states have also legalized recreational marijuana. Marijuana is described as â€Å"The dried leaves and female flowers of the hemp plant, used in cigarette form as a narcotic or hallucinogen† (â€Å"Definition of Marijuana†). The overall effects of marijuana on the brain and body, the difference between recreational and medicinal marijuana and how marijuana has stimulated the economy and the role of government in the legalization of marijuana are all reasons why marijuana should be legalized in the United States. Marijuana can be used as both a medicine and recreational drug, classifying these di fferences is what can be difficult. Medical marijuana is â€Å"when THC enters the body it attaches to and stimulates cannabinoid receptors in the brain. The stimulation of these receptors affects the body in various ways. Among its effects are reduced pain and increased appetite† (DePietro). Medical marijuana is used to treat chronic pain, nausea, and muscle spasms, but it also has many other uses. Twenty-eight states have legalized marijuana for medical use, where a doctor must dispute the prescription of the drug. Many marijuanaShow MoreRelatedShould Marijuana Be Legalized?849 Words   |  4 Pageswhether marijuana should be legalized. Around 23 states have legalized marijuana for medical and recreational use. In the state of Illinois, medicinal use of marijuana has been passed on April 17, 2013. Since January 2014, patients are able to obtain marijuana with a doctor s recommendation. The new debate is whether marijuana should be legalized for the general public as a recr eational drug. Although some believe that marijuana is harmless, and that it has beneficial medicinal uses, marijuana shouldRead MoreShould Marijuana Be Legalized?1715 Words   |  7 PagesMarijuana in Society Cannabis, formally known as marijuana is a drug obtained from the tops, stems and leaves of the hemp plant cannabis. The drug is one of the most commonly used drugs in the world. Only substances like caffeine, nicotine and alcohol are used more (â€Å"Marijuana† 1). In the U. S. where some use it to feel â€Å"high† or get an escape from reality. The drug is referred to in many ways; weed, grass, pot, and or reefer are some common names used to describe the drug (â€Å"Marijuana† 1). Like mostRead MoreShould Marijuana Be Legalized?1489 Words   |  6 Pagescannabis plant or marijuana is intended for use of a psychoactive drug or medicine. It is used for recreational or medical uses. In some religions, marijuana is predominantly used for spiritual purposes. Cannabis is indigenous to central and south Asia. Cannabis has been scientifically proven that you can not die from smoking marijuana. Marijuana should be legalized to help people with medical benefits, econo mic benefits, and criminal benefits. In eight states, marijuana was legalized for recreationalRead MoreShould Marijuana Be Legalized?1245 Words   |  5 PagesMarijuana is a highly debatable topic that is rapidly gaining attention in society today.   Legalizing marijuana can benefit the economy of this nation through the creation of jobs, increased tax revenue, and a decrease in taxpayer money spent on law enforcement.   Ã‚  Many people would outlaw alcohol, cigarettes, fast food, gambling, and tanning beds because of the harmful effects they have on members of a society, but this is the United States of America; the land of the free and we should give peopleRead MoreShould Marijuana Be Legalized?1010 Words   |  5 PagesThe legalization of marijuana became a heated political subject in the last few years. Twenty-one states in America have legalized medical marijuana. Colorado and Washington are the only states where marijuana can be purchased recreationally. Marijuana is the high THC level part of the cannabis plant, which gives users the â€Å"high† feeling. There is ample evidence that supports the argument that marijuana is beneficial. The government should legalize marijuana recreationally for three main reasonsRead MoreShould Marijuana Be Legalized?1231 Words   |  5 Pagesshows the positive benefits of marijuana, it remains illegal under federal law. In recent years, numerous states have defied federal law and legalized marijuana for both recreational and medicinal use. Arizona has legalized marijuana for medical use, but it still remains illegal to use recreationally. This is absurd, as the evidence gathered over the last few decades strongly supports the notion that it is safer than alcohol, a widely available substance. Marijuana being listed as a Schedule I drugRead MoreShould Marijuana Be Legalized?1350 Words   |  6 Pagespolitics in the past decade would have to be the legalization of marijuana. The sale and production of marijuana have been legalized for medicinal uses in over twenty states and has been legalized for recreational uses in seven states. Despite the ongoing support for marijuana, it has yet to be fully legalized in the federal level due to cultural bias against â€Å"pot† smoking and the focus over its negative effects. However, legalizing marijuana has been proven to decrease the rate of incrimination in AmericaRead MoreShould Marijuana Be Legalized?1145 Words   |  5 PagesLegalizing Marijuana Marijuana is a drug that has been actively used for centuries. This drug can be traced back to 2737 BC by the Chinese emperor Shen Nung. He spoke about the euphoric effects of Cannabis and even referred to it as the â€Å"Liberator of Sin.† Since early on, marijuana was seen as a medicinal plant that was recommended for medical uses. Marijuana is currently in schedule I, which means that physicians are not allowed to prescribe it in the United States (Hart, Ksir 2013). This drugRead MoreShould Marijuana Be Legalized?997 Words   |  4 PagesLegalize It: The Benefits of Legalizing Marijuana Should marijuana be legalized? Many Americans have been asked this question or have heard some type of news about the issue. Marijuana is commonly known as cannabis which refers to the dried up hemp plant cannabis sativa, even though marijuana is a plant and has no chemical additives it has been a tropic of controversy for many years but nowadays it is in the spotlight more than ever. For centuries, marijuana has been used by people throughout theRead MoreShould Marijuana Be Legalized? Essay1457 Words   |  6 PagesSHOULD MARIJUANA BE LEGALIZED? Marijuana is a drug that has sparked much controversy over the past decade as to whether or not it should be legalized. People once thought of marijuana as a bad, mind-altering drug which changes a person’s personality which can lead to crime and violence through selling and buying it. In the past, the majority of citizens believed that marijuana is a harmful drug that should be kept off the market and out of the hands of the public. However, a recent study conducted

Traffic and Transportation Free samples †Myassignmenthelp.Com

Question: Write an essay about the Traffic and Transportation. Answer: Arterial roads may be known as high-capacity roads which connect the urban areas with the cities. The arterial roads deliver traffic from the collector roads to the expressways. Thus these roads in a way provide service between the urban areas and expressways. As stated by Vasconcellos (2014), many arterial roads are limited-access roads for the private access. It has been observed that the modern motorways are dealing with heavy incrising road traffic and high demand for mobility of frequent congestion, accidents, dangerous road sections and air pollution. It has been found that controlled-access highway has been designed for high speed vehicle traffic and also so to maintain the traffic flow (Tolley and Turton 2014). It has been observed that the arterial road connects the urban areas and the cities. As argued by Garber and Hoel (2014), such types of the arterial roads change from country to country or city to city. The designs of the arterial roads are also different and include patterns like concentric circulars or grid. As stated by Barfield and Dingus (2014), the arterial roads have been built as a bypass lane for the high speed and high-mobility motorway. These arterial roads create opportunity to connect the urban areas with the city. As argued by Schmieg et al. (2014), the arterial roads provide useful features and facilities to vehicles. Social benefits: As stated by Pan et al. (2014), everyday more than 10 to 15 small and medium road accidents have been reported at different roads of Australia. The majority of the accidents are responsible in creating slow traffic in different highways. According to Greguric et al. (2014), more than 1.5 million people have died in road accidents last year. Due to slow traffic and traffic jam, more than 70% of the injured people die every year. Therefore, road accidents may create traffic jam on the highway. The new arterial roads have created a bypass for ambulances and other emergency vehicles such as fire truck or lifting truck so that they may reach the accident spot easily. It has been observed that the Prince highway covers the major areas in Australia from Sydney to Port Augusta. It has been observed that more than 10 bypass roads have been attached with this highway such as Oak Flats to Dunmore, North Kiama Bypass, Kiama On and Off Ramps. It has been observed that the length of the bypass roads is mot more than 11.5 km (Garber and Hoel 2014). Moreover, 5 bypass roads are under construction (Pan et al. 2014). As stated by Greguric et al. (2014), more than 50% traffic jams have decreased in this high ways. Therefore, an additional 3-6 bypasses ways will be required for decreasing the traffic jam by 30%. Quality of the roads: The road construction process will be more technology based. The asphalt or concrete roads are suitable for bypass roads. It is cost effective and durable. It has been observed that some areas are susceptible to landslides due to heavy rain. Therefore the road construction companies need to inspect the area of roads. Additionally, post this inspection, the road construction company will begin its road construction procedure and make arrangement for requirements such as rocks and stones. It has been observed that some bypass roads have been built using cobblestone and granite stones. Those roads are non slippery but they absorb large amount of rain. As a result, the longevity of the cobblestone coating is low (not more than 6 -8 years). On the other hand the cobblestone coating cannot carry heavy weight vehicles such as trucks and trawlers. Therefore, the asphalt coating roads will be better for the bypass roads because it is durable and has good gripping ability. Therefore, this will be of lower risk for the cars in the rain. As stated by Ouma et at. (2014), asphalt road making process is more expensive and time consuming than the cobblestone roads. As stated by Garber and Hoel (2014), the bypass road should have 2 lanes and they should specially connect the rural areas with the highways. Therefore, the asphalt roads provide better roads for the emergency vehicles such as ambulance, fire truck and others. The new bypass roads will be covered by thick asphalt to increase its durability. As stated by Pan et al. (2014), asphalt roads are well suited for carrying loaded trucks. Most asphalt roads have a gravel based surface. Portland cement or lime would be used to stabilize the mixture of the gravels. Technology implementation: It has been observed that the old road building process was manual. Therefore, the construction process has been a time consuming process. The road construction department has spent a large amount of capital on the construction of these roads. Therefore the new technological implementation will be more time and cost efficient for the new bypass roads (Ouma et at. 2014). There are some new building machines like air-track drill, chip spreader, cold planer, compactor, concrete mixture machines and carriage and curb machines will be used in the new road construction. Those innovative machineries will reduce the human effort and building time. As a result the roads will open for vehicles after a short time. Lighting system: It has been observed that there are no street lights in the highways. Therefore, relief operation has faced challenge at night. However, the bypass road must have street lights because it connects the rural areas with the highways. There will be street light in the bypass lanes. The gap between two street lights will be almost 100 to 150 meters. Power Companies have taken the responsibility of setting up LED street lights for the new bypass. As stated by by Barfield and Dingus (2014), the LED light 80% power saving capacity than the florescent lights and sodium vapor lamps or halogen lamps. On the other hand, the LED light delivers better candela than the sodium vapor lamp. There will be automated signaling system in the new bypass road. The signaling system will be bright LED based so that the driver is able to observe the signals from far (Ouma et at. 2014). The arterial roads are necessary for supporting the highways in emergency purposes. The bypass roads must be built by materials that are strong and heavy such as asphalt so that maintenance cost may be reduced. The new bypass roads must have bright and energy efficient lighting and signaling system to avoid accidents. Therefore, the bypass roads would be the perfect support for the highways. Reference list: Barfield, W. and Dingus, T.A., 2014. Human factors in intelligent transportation systems. Psychology Press. Garber, N. and Hoel, L., 2014. Traffic and highway engineering. Cengage Learning. Greguric, M., Ivanjko, E. and Mandzuka, S., 2014, Cooperative ramp metering simulation. In Information and Communication Technology, Electronics and Microelectronics (MIPRO), 2014 37th International Convention on (pp. 970-975). IEEE. Greguri, M., Ivanjko, E. and Manduka, S., 2014. New Concepts for Urban Highways Control. REAL CORP, pp.423-431. Ouma, Y.O., Yabann, C.E., Kirichu, M. and Tateishi, R., 2014. Optimization of urban highway bypass horizontal alignment: a methodological overview of intelligent spatial MCDA approach using fuzzy AHP and GIS. Advances in Civil Engineering, 2014. Pan, J., Chen, C., Li, Y., Wang, L., Tan, L., Li, G., Tang, X., Xiao, L., Lu, J. and Zhuang, L., 2014. Constructing ionic highway in alkaline polymer electrolytes. Energy Environmental Science, 7(1), pp.354-360. Schmieg, N., Menendez, G., Schiavo, G. and Terenzio, M., 2014,. Signalling endosomes in axonal transport: travel updates on the molecular highway. In Seminars in cell developmental biology (Vol. 27, pp. 32-43). Academic Press. Tolley, R. and Turton, B.J., 2014. Transport systems, policy and planning: a geographical approach. Routledge. Vasconcellos, E.A., 2014. Urban Transport Environment and Equity: The case for developing countries. Routledge.

Summary of Confessions of a Miseducated Man Essay Example

Summary of Confessions of a Miseducated Man Essay Norman Cousins’ Confessions of a Miseducated Man is simply saying that society has the wrong notion in thinking that respecting each other is based on acceptance of our unique individuality because he believes that true respect can be achieved in realizing how similar we actually really are to each other. Good formal education has led us to see the differences of our cultures, beliefs, skin color and preferences.   However, accepting the uniqueness of another leads to â€Å"tribalism† which puts a distance between every human being.   Cousins realized that true respect can be gained by finding the similarities we have.   We all have the same basic needs to live and these could be instruments in helping us comprehend the thoughts and actions of another.   Fully understanding our similarities can lead us to better understand and respect each other.   Cousins explains it well when he said, â€Å"What counts is not the thoughts of men lead them in different direc tions but that all men possess the capacity to think; not that they pursue different faiths but they are capable of spiritual belief; not that they write and read different books but they are capable   of creating print and communicating in it across time and space; not that they enjoy different art and music but that something in them enables them to respond deeply to forms and colors and ordered vibrations of sounds.†Ã‚   Respecting each other’s individuality in the light that we see ourselves in one another is a better way to recognize each other’s dignity. This is what true respect and education is all about.