Business Homework

My goal in life for the past few years has been to become financially independent . This is not always an easy goal to achieve . The big goals in life are often challenging and it can be very rewarding to reach those sorts of goals , even more rewarding for me is the path to those goals . My largest challenge has been in discovering what really motivates me Often these challenges are very difficult to be achieved but the desire and hope in a person helps in fulfilling the challenges When I first started out

I thought it was money that was my motivation Money is a part of my goal . When I ask myself the right questions I start to build a clearer picture of what I need to succeed

A person needs to invest a sufficient amount in order to get the savings in return after a specific period of time and going through specific calculations and applying different percentages on it annually or in specific periods of time . Interest is paid annually on loans and profit or dividend is earned annually on the savings of the person . the exact amount to to kept aside for getting a lumpsum amount after several years should be decided and then it should be saved applying a certain percentage in order to get the desired amount

Ans 1 : The current age is 24 and the expected age when he will withdraw the savings is 62 . The annual income of the person is 1...