Business Funding Express

Ruth asks…

Do people check the facts before making a decision on who for in the Gov Election in MI?

Most people get the facts wrong or they are misrepresented in tv ads and people expressing their views. Most people believe that Amway and Quixtar are the same and is a pyramid (which pyramids are illegal), the truth is that they are sister companies, and that they are actually multilevel networking. Dick did not create Amway his father Rich DeVos and his friend Jay Van Andel did in 1959. Which if it was so bad why is it still around and many other companies back them? When it is good business to expand to over seas you have to follow that country’s laws. That is why jobs were created in China, but there was also jobs created here also because of the expandsion but does that get in the news?
Now about Granholm, schools have loss funding since she has taken office. She says that she puts education first, but why did she eliminated scholarships for college students that earned them?

admin answers:

I’m afraid most people don’t check the facts before ANY election. Either they are too busy, uneducated, or apathetic.

I imagine most people vote strictly on party lines.

Betty asks…

How to express gratitude to my mentors? (touching true story)?

My friends and I are college sophomores in our very early 20′s, starting a theatre company to launch in June. From Monday to Friday we share an office with my mentor, who happens to be an interior designer in business and my pastor’s wife. Her husband–my pastor–gives us complimentary leadership coaching sessions every Monday.

It all started in November when she invited our class for lunch at her office to get acquainted and arrange for us to perform for the neighbourhood Christmas party. It was a very rushed project–normally a full drama production would take at least 3 months to prepare, but we launched ours in 3 weeks. Initially we did not mean to go so far as to starting a company–but it went in that direction as soon as we realised the need for an identity separate from our campus’s, and the necessity of raising sponsorship funds in the process.

Well, we didn’t quite raise enough money for that performance–so my mentor ended up paying the bills… a grand total well around $2500. On one hand I do admit that it was our fault for not raising enough money, but on the other hand she should have known that the kids participating in this project were trained mostly for the performance side of it but barely on the organisational and financial side of it. We’re still about $400 in debt and she’s kinda broke right now.

In January, 2 weeks after the performance, three of us (me and two classmates) started meeting daily in her office to figure out how in the world could we pay her back. None of us have a job, so we figured the only way to do that is to produce some more and share the profit with her once we break even and beyond. Our next production is due June and we currently have a team of 40 (expanding rapidly).

My mentor has been very generous in providing us resources–office space, meeting hall, storage, internet wi-fi, drinking water, her business associates, advice, time to pray and counsel. Lately, every day I go to her office I’ve been thinking of ways to pay her back that we can do on a daily and weekly basis–simple things that get our love across, that don’t require us to wait for special occasions because they burn holes in our pockets.

- nice words? i tell her nice things and affirmations every day, but it doesn’t look like it’s her love language

- hugs? neither

- bring food to share at the office? she’s been fasting during office hours since God knows when till God knows when

- offer to run errands? her employees are much better trained at doing that than we are, and she has more than enough of them already. given that she likes it practical, i think she is happier to let her employees do what they are trained at.

- small gifts? she won’t have space or time for them. we bought her a coffee table book for her birthday on her husband’s advice but it’s still sitting on her desk and i never saw her read it.

- help pay the utilities? we barely have enough for production

- flowers? she hates to have to maintain them

- thank you cards? she hates clutter

- spend “quality time” with her? it’s a bit difficult when she’s the type that feels that every second has to be productive. she’s often multitasking, or allow other people to be around when I want to spend time “just being” with her

I tend to be a “quality time” and “physical touch” person but obviously she is neither. I can accommodate “words of affirmation” and “acts of service” when required, but am not sure which of these are her. I’m not very good with “gifts” unfortunately, but am willing to try.

All the nice things I remember doing for her is to organise a surprise party on her birthday, referring some people to do business with her (which I don’t have every day), and praying for her every day. It’s so embarrassing compared to what she and her husband always do for us.

To make things worse, I don’t think my colleagues and parents realize how much this couple have invested in us without knowing when or how it’s going to pay off. I just want to do something to thank them and show the love, because I don’t think it’s right to take our privilege of working together with them for granted.

Your ideas will be much appreciated. Thanks in advance :-)

admin answers:

I think the most important thing is to be respectful and make sure everyone in your company avoids having an entitlement mentality (the attitude that you are owed what she gives you). But it seems like you got that taken care of already. Beyond that, I suggest some of you get part-time jobs to pay her back. I’m not sure about the numbers but even if you owe $2900 it won’t take that long to earn. Plus, you can save up money for your next production. Additionally, you’re going to have to face the fact that your company may never break even. To show you’re gratitude, just remain respectful and try to show gratitude with the little things, like bringing in homemade cookies and helping clean up. If you owe her money, you shouldn’t be buying her junk; you should be paying her back.

Joseph asks…

Business and consumer math help!!!?

12.You own 150 shares of stock with no par value. The dividend is $0.85 quarterly per share. Your annual dividend is $

13.
You bought 60 shares of stock whose par value is $100 at . The brokerage fee is $96. The stock pays an annual dividend of 5% per share.

Your total investment was $

14.
You bought 60 shares of stock whose par value is $100 at . The brokerage fee is $96. The stock pays an annual dividend of 5% per share.
The annual dividends were $

15.
You bought 60 shares of stock whose par value is $100 at . The brokerage fee is $96. The stock pays an annual dividend of 5% per share.
The yield was _______%. (Express the final answer as a percent to the nearest tenths place.)

16. Victor bought 180 shares of stock for a total cost of $4,381. Three years later he sold the stock and received net proceeds of $4,524. During that time he received quarterly dividends of $0.60 a share.
Victor’s total gain from owning and selling the stock was $________.

a 925
b 467
c 1,296
d1,439

17.
Carol’s $800-per-year contribution over 35 years, invested in a Roth IRA, grows to $165,000.
If Carol’s regular income taxes are about 22% of her earnings, how much did her investment grow from what she actually paid in?

a$36,300
b$130,840
c$28,000
d$137,000

18.
Carol’s $800-per-year contribution over 35 years, invested in a Roth IRA, grows to $165,000.
If Carol would like to withdraw $1,775 per month from her Roth account, how long will her earnings last? (To the nearest year and month.)

a 6 years
b 7 years 2 months
c 6 years, 1 month
d 7 years, 9 months

19.
Carol’s $800-per-year contribution over 35 years, invested in a Roth IRA, grows to $165,000.
Carol is now 61 years old. How much will she pay in taxes when she goes to withdraw $25,000 of the $165,000?

a $0
b $458.3
c $5,500
d $6,600

20. Jay Bartell, whose yearly gross income is $26,720, has been contributing 5% of his gross monthly pay to his 401k retirement fund.
If his employer has a 50% matching fund on his contributions, how much have Jay and his employer contributed after 2 years? $

admin answers:

12.You own 150 shares of stock with no par value. The dividend is $0.85 quarterly per share. Your annual dividend is
150 x 0.85 x 4 = 510

13.
You bought 60 shares of stock whose par value is $100 at . The brokerage fee is $96. The stock pays an annual dividend of 5% per share.
Your total investment was
(60 x 100) + 96 = 6,096

14.
You bought 60 shares of stock whose par value is $100 at . The brokerage fee is $96. The stock pays an annual dividend of 5% per share.
The annual dividends were
60 x 100 x 0.05 = 300

15.
You bought 60 shares of stock whose par value is $100 at . The brokerage fee is $96. The stock pays an annual dividend of 5% per share.
The yield was
(60 x 100) + 96 = 6,096 purchase price
6,000 x 0.05 = 300 annual dividend
300 / 6,096 = 4.9%

16. Victor bought 180 shares of stock for a total cost of $4,381. Three years later he sold the stock and received net proceeds of $4,524. During that time he received quarterly dividends of $0.60 a share.
Victor’s total gain from owning and selling the stock was
180 x 0.60 x 4 x 3 = 1,296 dividends
4,525 – 4,381 = 144 profit from sale
1,296 + 143 = 1,439 total gain
d1,439

17.
Carol’s $800-per-year contribution over 35 years, invested in a Roth IRA, grows to $165,000.
If Carol’s regular income taxes are about 22% of her earnings, how much did her investment grow from what she actually paid in?
This is a trick question. Roth IRAs are not taxable. So her investment grew by:
165,000 – (800 x 35) = 137,000
d$137,000

18.
Carol’s $800-per-year contribution over 35 years, invested in a Roth IRA, grows to $165,000.
If Carol would like to withdraw $1,775 per month from her Roth account, how long will her earnings last? (To the nearest year and month.)
Since no interest rate is given:
165,000 / 1,775 = 92.96 months = 7.75 years
d 7 years, 9 months

19.
Carol’s $800-per-year contribution over 35 years, invested in a Roth IRA, grows to $165,000.
Carol is now 61 years old. How much will she pay in taxes when she goes to withdraw $25,000 of the $165,000?
Withdrawals are not taxable for Roth IRAs, if you are at least 59 1/2 years old.
A $0

20. Jay Bartell, whose yearly gross income is $26,720, has been contributing 5% of his gross monthly pay to his 401k retirement fund.
If his employer has a 50% matching fund on his contributions, how much have Jay and his employer contributed after 2 years?
26,720 x 5% x 2 = 2,675 Jay’s contribution
2,675 x 50% = 1,337.50 Employer’s contribution
2,675 + 1,337.50 = 4,012.50 Total

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