Business Plan on Bonds

A bond can be defined as a contractual promise to repay a principal sum of money together with the interest, also known as coupons, at given maturity dates. Bonds are debt instruments that are issued for a period usually more than a year with the intention of raising capital. When investors purchase bonds, they became creditors of the issuer. The fair value of a bond is determined by the present value of cash flows that are to be generated from the bond in future at a given discount rate. Hence, the price of a bond is calculated using the present value formula at a specified discount rate. Price of the bond is calculated by the formula: P = (C/†¹1+i†º + C/†¹1+i†º2 †¦ + C/†¹1+i†ºn) + M/†¹1+i†ºn Where; P is the price of the bond, C is the periodic interest payment or the coupon payments, if is the given discount/interest rate, n is the number of payments and M is the value of the bond at maturity (Faerber). Bonds are issued as a means of raising funds from external sources to invest in long term projects or investments that will take a relatively long period before the returns on the investment are realized (Banks). Bonds are issued by the federal government, cities, states, municipalities, public companies and credit institutions Both stocks and bonds are long term securities. The main difference between the two is that stockholders are the owners of the company with rights to attend annual general meetings and other general meetings of the company and vote in such meetings whereas bondholders are lenders of the company. Another variation is that all bonds, apart from consol bonds,  Ã‚   have a specified maturity date whereas stocks remain outstanding as long as the company is a going concern (Banks). Corporations may prefer to issue bonds other than stocks to minimize their tax liability because the interest paid is a tax allowable deduction on their income tax returns whereas dividends paid on stock is not tax allowable deduction on their income tax returns. Corporations may also want to avoid dilution of ownership interest since bonds do not vest ownership interest to the holders (Banks). Coupon is the periodic interest payments made to bond holders. Coupon value is computed by multiplying the stipulated interest rate with the par value of the bond (Faerber). Maturity date is the date which the bond issuer must repay the principal amount. After the maturity date, the bond issuer does not have any more obligations to bond holders provided that the issuer has paid the principal amount with any outstanding interest. Bonds normally have a maturity period of more than one year since they are a long-term source of finance (Faerber). Face value is the usually sum of money that must be repaid when the bond matures. However, some structured bonds have a different redemption value other than the face value. These are bonds that are linked to the performance of certain assets at the time of maturity such as commodity index, a stock, a fund or foreign exchange Face value is also the value that forms the basis of computation of coupon payments to be made by the issuer (Faerber). Bonds are also issued at a discount when it has a coupon yield that is less than the prevailing market interest rate. Bond issuers will therefore be forced to issue the bond at an amount less than the face value to make them attractive and equate the coupon yield with the prevailing market interest rates. For zero coupon bonds investors pay less than the face value of the bond. Zero coupon bonds are bonds that do not pay regular interest. They are issued at discount on the par value so that total interest is rolled up to when the bond matures as the bond holder will receive the face value amount in full (Banks).Bonds are also issued at a premium when it has a coupon yield that is more than the prevailing market interest rate. Bond issuers will therefore take advantage of the higher market interest rates to raise more funds by issuing the bond at an amount higher than the face value and equate the coupon yield with the prevailing market interest rates (Banks). Works Cited Banks, Erik. Finance: The Basics. 2, illustrated. New York: Taylor Francis, 2010. Faerber, Esmà ©. All about bonds and bond mutual funds: the easy way to get started. revised. New York: McGraw-Hill Professional, 2005.

Tlc Lab Report - 1670 Words

Separating Substances: Identifying Food Dyes with TLC Background The color of food is an integral part of our culture and enjoyment of life. Who would deny the mouth-watering appeal of a deep-pink strawberry ice cream on a hot summers day or a golden Thanksgiving turkey garnished with fresh green parsley? Even early civilizations such as the Romans recognized that people eat with their eyes as well as their palates. Saffron and other spices were often used to provide a rich yellow color to various foods. Butter has been colored yellow as far back as the 1300s. Food color additives are dyes, pigments or substances that impart color when applied to a food, drug, cosmetic, or the human body. The Food and Drug Administration†¦show more content†¦Place 5 candy pieces of the same color into a small beaker. Pour enough acetic acid solution into each tube to just cover all of the candy pieces, around 5 mL. 2. Agitate the beaker carefully for about 30-45 seconds, or until the color comes off of the candy. Be careful to dissolve as little as possible of the white layer (sugar) under the colored layer and do not dissolve any of the chocolate. Immediately decant the colored solution into a clean test tube, trying not to transfer any of the sediment. Repeat with the other colors for which you are responsible. 3. Now you need to extract the dye from the solution onto the strips of yarn. To do this, place one piece of yarn into each test tube of colored solution. Heat the tubes in a boiling water bath for 8-10 minutes. You can remove the tubes from the water when the solution is milky-white and the yarn is the color of the dye, in other words, when all of the dye has been extracted from the solution. 4. Remove the dyed yarn from the solution and rinse it with distilled water. If you wish you may cut ~2 cms off each piece of yarn as a souvenir. 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Airframe by Michael Crichton Essay Example For Students

Airframe by Michael Crichton Essay Airframe, a novel by Michael Crichton was a fairly good book that became very exciting towards the end. It is about the aviation industry and a fictional company named Norton Aircraft that manufactures planes. There is only one main character and the plot of the novel is about a secret plan to destroy the president of Norton. The book gets off to a slow start, but rapidly builds up pace in the last hundred pages. The main character of the novel is Casey Singleton. She is a divorced mother in her mid-forties. She is a vice president of the Quality Assurance Incident Review Team. Whenever anything goes wrong with a plane that was made by Norton, the Incident Review Team finds out what the problem was and fixes it. The whole book is based on her and her actions. If there had to be two more supporting characters, one would be John Marder. He is the chief operating officer of Norton Aircraft. In other words, he runs the factory. He has also been nice to Casey, but he turns out to be a very bad person and sly guy. The third important character in the novel Airframe is Jennifer Malone. She is a reporter for a news show called Newsline. From the descriptions in the book, this show sounds very much like the news program 20/20. She does a news story on the two latest events of the N-22 aircraft that has had unusual problems lately. She does not understand what the aviation industry is about so she has a very bad attitude. As a result, Casey ends up telling her off towards the end of the book. The plot of Airframe is a very complex and exciting plot. The book starts off with a bang with a suspenseful first chapter. An airplane encounters severe turbulence and many passengers are hurt. Eventually a team at Norton is put together to find out what the cause of the situation is. The problem puts Nortons airplane deal with China, for billions of dollars, in serious jeopardy. The team cannot find any leads, and soon the media catches on to Nortons problems. The reporters love a story that is bad and makes the viewers concerned about airline safety. A lot of people are already concerned about airline safety. When the media advertises a bad story about manufacturers, everyone will watch it. Casey finds herself in dangerous situations where people are following her and watching her. She knows something is wrong and there is some kind of secret plot. She figures it out in the last fourth of the novel but she does not tell the reader until she tells Jennifer Malone in the second chapter until the end. It turns out the whole incident was a pilots error. The experienced pilot let his own son fly the plane while he went to go get a cup of coffee. The son did not know what to do, so he almost crashed the plane. Before Casey Singleton came to the simple answer above, she investigated many possibilities. One was that the slats on the wing extended without a command. Another was that the plane had counterfeit parts that supposedly damaged the plane. She found absolutely nothing. It turns out that John Marder was supposed to ruin Nortons current president over this incident. He thought once a critical news story was shown on Newsline, that the president would be ruined as well as Casey Singleton since she was the one that handled the interview. He had been cooking up a deal with North Korea to sell even more planes than Norton was preparing to sell to China. But he must become president before the deal would go through. Once the Korean sell was accomplished, Norton stock would sky-rocket which would make John Marder rich since he owned tons of it. This was all part of his plan but it was all ruined since the story did not air because it turned out it had been the pilots fault. Obviously, it was not the manufacturers fault. No one wanted to hear about a young kid killing three people and injuring hundreds. .ue88e94b6f068bd201fdc214bfd7d9a42 , .ue88e94b6f068bd201fdc214bfd7d9a42 .postImageUrl , .ue88e94b6f068bd201fdc214bfd7d9a42 .centered-text-area { min-height: 80px; position: relative; } .ue88e94b6f068bd201fdc214bfd7d9a42 , .ue88e94b6f068bd201fdc214bfd7d9a42:hover , .ue88e94b6f068bd201fdc214bfd7d9a42:visited , .ue88e94b6f068bd201fdc214bfd7d9a42:active { border:0!important; } .ue88e94b6f068bd201fdc214bfd7d9a42 .clearfix:after { content: ""; display: table; clear: both; } .ue88e94b6f068bd201fdc214bfd7d9a42 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue88e94b6f068bd201fdc214bfd7d9a42:active , .ue88e94b6f068bd201fdc214bfd7d9a42:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue88e94b6f068bd201fdc214bfd7d9a42 .centered-text-area { width: 100%; position: relative ; } .ue88e94b6f068bd201fdc214bfd7d9a42 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue88e94b6f068bd201fdc214bfd7d9a42 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue88e94b6f068bd201fdc214bfd7d9a42 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue88e94b6f068bd201fdc214bfd7d9a42:hover .ctaButton { background-color: #34495E!important; } .ue88e94b6f068bd201fdc214bfd7d9a42 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue88e94b6f068bd201fdc214bfd7d9a42 .ue88e94b6f068bd201fdc214bfd7d9a42-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue88e94b6f068bd201fdc214bfd7d9a42:after { content: ""; display: block; clear: both; } READ: The play Oedipus The King begins with the king and queen of Thebes, Laius and Jocasta EssayIt is plain and simple: its not good news. Marder was fired once his plot was uncovered and Casey Singleton took his place. There were many conflicts in Airframe. So many, you could not dare counting them all. Some of the main conflicts were between Casey Singleton and her colleagues. They got into arguments and disagreements all the time because they each believed something different caused the accident of the flight. There was a conflict about the men suspiciously following Casey who turned out to be John Marder employees. The real main conflict in the novel was John Marders cover-up operation that could have easily destroyed Hal Edgarton, the president of Norton and Casey Singleton, the vice president of the QAR team. The theme or message of Airframe I personally think is that the media is way too powerful and greedy in this modern world. They can say anything they want anytime they want about anybody they want. The media is way too powerful. They dont always speak the truth! It was definitely man versus society. Michael Crichton, the author of Airframe, was born in Chicago in 1942 but grew up in a suburb of New York. Mr. Crichton attended Harvard Medical School to become a doctor. He always had an interest in writing and he wrote his first novel In Case of Need under a pseudonym of Jeffrey Hudson. He has also used John Lange as a pseudonym. Michael has written many novels and has won many awards. Michael Crichton also directs movies and is the author of the hit TV show ER. His major novels include: Airframe, The Lost World, Disclosure, Rising Sun, Jurassic Park, Sphere, The Eaters of the Dead, The Great Train Robbery, The Terminal Man, The Andromeda Strain, and In Case of Need. I would recommend this novel to people who enjoy airplanes and advanced technology. It is an exceptional novel for people of all ages and should definitely be read. I think men and women both would like it, because the main character is a woman but the book has many manly themes. Overall, Airframe, is a great novel by Michael Crichton. Although it is not his best work, it is not anything to be ashamed of, either. It is a great novel about interesting airplanes and a suspenseful plot to ruin a major airline manufacturer. This book is the perfect ingredient in a recipe for a rainy, cold, winters day.

Switched Networks Essays - Computing, Network Architecture

Switched Networks Switched Networks Networks are getting more and more popular, and because of this more people use them, which slows them down. Networks in the future will need to have enough bandwidth to support applications, like multimedia, witch require larger bandwidth. Switching will change the way networks are designed. These changes will maximize productivity. Switching technology is increasing the efficiency and speed of networks. This technology is making current systems more powerful. Many networks are experiencing bandwidth shortages. There are several reasons for this including: an increase in traffic, because networks have so many users, Amount of data between client/server applications, and the inefficient traffic patterns of most networks. Switching directs network traffic in a very efficient manner. It sends information directly from the port of origin directly to its destination port. Switching increases network performance, enhances flexibility and eases moves, add-ons and changes. One of the benefits of switching is that it maintains a direct line of communication between two ports, and maintains multiple simultaneous links between various ports. It reduces network traffic by reducing media sharing. This technology has some benefits over ethernet routed networks. First, a 10 Mbps or 100 Mbps shared media can be changed to 10 Mbps or 100 Mbps of dedicated bandwidth. Routers have many devices attached to their ports, sharing the bandwidth. Switches let you to connect either a shared segment of bandwidth (workgroup) or a dedicated one (server) to each port. Second, this can be done without changing any software or hardware already on the workstations Finally, a switch installation is less complex than a bridge/router configuration. A ethernet LAN runs at 10 Mbps. Stations attach through a hub or repeater. Every station can receive transmissions from all of the stations, but only in a half-duplex. This means that stations cannot send and receive data simultaneously. In a ethernet network only one packet can transmit at one time, this is what slows down networks. The bridge, the router and the switch, all attempt to reduce transmission time to increase performance. A two-port bridge splits a network into two physical segments and only lets a transmission cross if its destination is on the other side. It also will only move a packet to the other side if it is necessary. This reduces network traffic because traffic on one side stays local. Routers link multiple networks together. It maintains the flow of traffic and routes data to the network that it must go to. (Each port has a unique network number.) it also has a "firewall" function. Bridges and routers have similar bus architectures. Switches eliminate the bus architecture. Ethernet switches segment a LAN into many dedicated lines. A switch port may be configured in segments with many stations hooked to it or with a single station hooked to it. The rule is that only one conversation may originate from any port at a time, it doesn't matter if there is one or a lot of stations connected to that port. All ports have to listen before they transmit. When a single LAN station is connected to a switched port it is in full-duplex mode. This helps because there are no collisions of packets since they are all separate ports. Full-duplex switching means traffic can be sent and received at the same time. Ethernet networks go from 100 Mbps to 200 Mbps. (hubs between a workgroup and a switch will not run full-duplex, the workgroup is unswitched ethernet.). Switches are starting to be more popular than routers and bridges. Switches now do the segmentation once done by routers and bridges. Switches can do more than put a packet to one side or the other - they send traffic right to its destination. RISC (Reduced Instruction Set Computer) is a type of CPU to process in switches. It is used for general, or simple task, RISC switches are not as well at performing specific tasks. One of the advantages of RISC is that it is inexpensive compared to one with customized CPU. RISCs are already somewhat common in businesses and are off-the-shelf processors. This type of switch can perform some functions similar to a router. The downside of this type of RISC is that it is a store-and-forward processor that is not as fast as an ASIC switch. ASIC (Application Specific Integrated Circuit) This is the other design widely used in switches to process. They are custom designed to handle specific operations, all of the functions are in hardware. If any changes are needed, manufacturing must be done to rework hardware. No software upgrades are available. Another type of network architecture that is benefiting from switching is, token ring. One of