Developments aimed at increasing the number of tourists going to Miami Research Paper

Developments aimed at increasing the number of tourists going to Miami - Research Paper Example The city is known for its famous beaches, sunny weather, luxury hotels, its numerous nightclubs and a number of fun activities that tourists can enjoy. However, there is a lot that can be done to help boost the tourism industry in the city. This paper will focus on two potential developments for the area that will facilitate in tourism attraction. These developments will benefit both local and international tourism in that the developments are essential to the well being of human being. These developments include affordable vacation homes for hire/rent and medical facilities for medical tourism. 2. Affordable vacation homes Accommodation is one of the most expensive necessities when traveling. This is because most tourists have no choice but to stay in hotels during their visit. According to (Simpson 2012: 32), the number of beds in most hotel rooms is two. This is usually not suitable for families or large numbers of friends visiting an area. This results to a lot of money being spe nt on accommodation, money that could be spent on other fun activities during the visit. He goes on to say that, some disadvantages of staying in hotels like long lines at the reception when getting a room, the remoteness of some hotels and the noise from traffic or the city are some of the reasons why people dislike traveling. This is because people leave their homes to relax on their vacations, but they end up hustling. In the long term, this leads to less people traveling both locally and internationally due to the high cost of accommodation in these hotels per night and the process involved in checking in and out of hotels (Becker 2013:15). The development of affordable vacation housing in Miami will attract more tourists in the area because these will represent their homes away from home. The vacation houses will vary in cost depending on the number of bedrooms i.e. 1 to 4 bedrooms. Tourists will have an opportunity to live as they live back home with their own privacy and spac e at an affordable price. The housing development will resemble a normal neighborhood the only difference being that the houses will only be rented to tourists and not locals for residence. The cost of this development will be approximately $15 Million according to (Ogershok 2004: 35) for 10 vacation homes that are fully furnished. The homes will also be very close to the beach in a secure location away from other residential houses. This recommendation has been welcomed and criticized by the public. These were the findings from an interview conducted on the views of the public regarding this development. Most people think it is a good because the affordability of the homes will attract more tourists to Miami, and development will be unique in that the project has not been done before in Miami and that aspect will promote more tourists in the area. Other people said that the houses may remain vacant during the low season and that some tourists may not want to have a home setting whi le they are away from home on vacation. The sustainability of this development will be quite easy and cheap. This is because the houses will only need occasional checkups for plumbing, wiring, gardening and other things that would need to be checked. This will be cheap because what will be required are the occasional repairs, which will not be too many. The tourists hiring the houses will have to sign an agreement that makes them responsible for damages to the houses that they will cause during their stay. This will facilitate the houses durability in their new form for a long time. The houses will only

Time Value Essay Example for Free

Time Value Essay One of the most important concepts about saving and investing is the time value of money. It can be used to compare investment alternatives and to solve problems involving loans, mortgages, leases, savings, and annuities. This means money paid out or received in the future is not equivalent to money paid out or received today because inflation erodes money’s buying power. Basically, the power of time is on a person’s side and the premise that cash in hand today is more valuable than the same amount in the future due to its capability of earning interest. There are three factors affecting how much an investment will grow: time, money, and interest rate. Time Value of Money is a concept that is very important in financial management. It affects business, personal, and government finance (Harvey, 2012) Within this paper we will discuss the definition of Time Value of Money and identifies the importance of financial managers understanding the concept. Time, Money and Interest Rates Time has an important impact on the future value of money. Time is referred to as â€Å"N†, or â€Å"number,† and signifies the number of times something happens to your money. The earlier an individual invests, the more time their investment has to compound interest and increase in value. The effects of time on the value of money need to be taken into account when assessing investments. Investments (Money) with interest rates compounding frequently will yield higher returns. The higher the interest rate, the more money an individual will earn. However, and individual must understand an investment with a higher interest rate generally has a greater risk. Risk is the uncertainty the yield on an investment will deviate from what is expected. Generally, Present and Future Price of Money 2 having a savings or investment plan with a fixed interest rate guarantees a specific return but can provide a moderate risk. The last item to take into consideration with interest rates is ensuring the interest rate is higher than the rate of inflation. Inflation is the steady rise in the general level of prices of a market basket of goods. If the average interest rates rise, the amount a person earns from this type of investment will not increase. Another consideration with interest rates is ensuring the interest rate is higher than the rate of inflation. Need for Financial Managers Anyone who manages finances in a company setting , deals with consumer finance or running their own business is a financial manager and needs to understand the concept of Time Value of Money. A financial manager’s job it to compare the cost and benefits of alternatives that occur at different times. This is done by restating money values through time in Time Value of Money calculations. These calculations estimate what effect time will have on money. For these professionals to make decisions that will assist a client in taking advantages of low interest rates or investing wisely a comprehensive knowledge and understanding of the Time Value of Money is needed. Understanding this concept allows them to make better decisions. If they don’t understand the concept then they could make an unfavorable decision resulting in loss of money for the client or their business (Time Value of Money, 2013) Future Value and Present Value As an investor, you cannot control the rate of return on an investment. The actual yield is determined by the market as a whole, in the form of people buying and selling the investments at Present and Future Price of Money 3 a price that, coupled with the investment’s payouts, determines the yield. There are two fundamental formulas used to calculate the time value of money; the â€Å"future value† and the â€Å"present value† formulas. They’re basically the same formulas, but rearranged to solve for different values. The future value formula can answer the question, ‘how much money will I have if I invest a certain amount now, at a given rate of return†? The formula is FV=PV*(1+R)N, where FV is the future value (how much you’ll have later), PV is the present value (how much you’ll have now), R is the periodic rate of return or the percentage that your money will grow in each unit period of time. N is the number of unit periods of time in the overall time span. The following are examples of the calculation of future values: a) Solve for FV $150,537. 19 invested for seven years at an interest rate of 5% will yield a future value of $211,820. 94. FV = 150,537. 19 (1+ . 05)7 = 150,537. 19 (1. 05) 7 = 150,537. 19 (1. 40710042265625) = $211,820. 94 b) Solve for FV $237,891. 22 invested for eight years at an interest rate of 3% will yield a future value of $301. 353. 48. FV = 237,891. 22 (1 + . 03) 8 = 237,891. 22 (1. 03) 8 = 237,891. 22 (1. 266770081387616) = $301,353. 48 c) Solve for FV $320,891. 12 invested for 10 years at an interest rate of 11% will yield a future value of $911,144. 98. FV = 320,891. 12 (1 + . 11) 10 = 320,891. 12(1. 11) 10 = 320,891. 12 (2. 839420986069016) = $911,144.98 d) Solve for FV $520,520. 22 invested for 13 years at an interest rate of 13% will yield a future value of $2,549,513. 82. FV = 520,520. 22 (1 + . 13) 13 = 520,520. 22(1. 13) 13 = 520,520. 22(4. 898011103216606) = $2,549,513. 82 The present value formula is based on the same fundamental formula, but it’s â€Å"solved† for the PV term and assumes you will know the FV amount. The present value formula can Present and Future Price of Money 4 answer the question, ‘how much money would I have to invest now in order to have X dollars at a specific future date? ’. That formula is PV = FV/(1 + R) n where all the terms mean the same thing, except that R in this formula is typically referred to as the â€Å"discounted rate†, because its purpose is to lower a future amount of money to show what it is worth to you now (McCracken, 2014). The following are examples of the calculation of present value: a) If you receive a dividend of $562,126. 17 in 7 years at an interest rate of 5%. You initial investment would have been $399,492. 57. PV = 562,126. 17/(1 + . 05) 7 = 562,126. 17 / (1. 05) 7 = 562,126. 17/1. 40710042265625 = $299,492. 57 b) If you receive a dividend of $225,003. 21 in 6 years at an interest rate of 6%. Your initial investment would have been $158,618. 38. PV = 225,003. 21/(1 + . 06) 6 = 225,003. 21/(1. 06) 6 = 225,003. 21/1. 418519112256 = $158,618. 38 c) If you receive a dividend of $321,567. 35 in 5 years at an interest rate of 18%. Your initial investment would have been $140,560. 05. PV = 321,567. 35/(1 + . 18) 5 = $140,560. 05/(1. 18) 5 = 321,567. 35/2. 2877577568 = $140,560. 05 d) If your receive a dividend of $63,000. 05 in 12 years at an interest rate of 5%. Your initial investment would have been $35,080. 75. PV = 63,000. 05/(1 + . 05) 12 = 63,000. 05/ (1. 05) 12 = 63,000. 05/1. 795856326022129 = $35,080. 79 Annuity Present and Future Price of Money 5. An annuity is a series of identical payments occurring at equal time intervals. When the payments appear at the end of each time period, the annuity is said to be an ordinary annuity or an annuity in arrears. Present value calculations allow us to determine the amount of the recurring payments in an ordinary annuity if we know the other components: present value, interest rate, and the length of the annuity. Present value calculations involve the compounding of interest. This means that any interest earned is invested and will earn interest at the same rate as the principal. So, you earn interest on your interest. The compounding of interest can be very significant when the interest rate and the number of years are sizable. The present value of an annuity, represented by a series of equal payments, receipts or rents involve five components: (1) Present Value (2) Amount of each identical cash payments (3) Time between the identical cash payments (4) Number of periods that the payments will occur, length of the annuity and, (5) Interest rate or target rate used for discounting the series of payments. If you have any 4 of the 5 components, you have the information you need to calculate the unknown component. Calculations of Annuity. Suppose you are to receive a stream of annual payments of $325,891. 12 every year for 12 years starting at the end of this year. The interest rate is 6%. What is the present value of these 12 payments. PVA = PMT [( 1- (1 /(1 + r) n )) /r ] = 325,891. 22[(1- (1/(1 + . 06) 12))/. 06] = 325,891. 22[(1- (1/(1 . 06) 12))/. 06] Present and Future Price of Money 6 = 325,891. 22[(1 – (1/20121964718355))/. 06] = 325,891. 22[(1-. 496969363577001)/. 06] = 325,891. 22[. 503030636422999/. 06] = 325,891. 22 x 8. 383843940383317 = $2,732,221. 13 is the present value of the 12 payments. Suppose you are to receive a payment of $437,891. 24 at the end of each year for five years. You are depositing these payments in a bank account that pays 15% interest. Given these five payments and this interest rate, how much will be in your bank account in five years? FVA = PMT [((1 + r) n – 1) /r] = 437,891. 24 [((1 + . 15) 5 – 1)/. 15] = 437,891. 24 [((1. 15) 5 – 1)/. 15] = 437,891. 24 [(2. 0113571875 -1) /. 15] = 437,891. 24 [1. 0113571875/. 15] = 437,897. 24 x 6. 74238125 = $2,952,429. 69 will be in your bank account at the end of 5 years. Conclusion Present Value and Future calculations seem to be a simple way to compare money at different periods of time. Utilizing the future value calculation a person is able to determine the estimated future value of investments based on periodic, constant payments and constant interest rate. It ca also be used to calculate the future of loans payments. Time Value Money is a basic tool in finance that is used every day. Utilizing this concept can help individuals and companies weight all the options so the best decision can be made to Present and Future Price of Money 7 prosper in the future. Understanding and having the knowledge about saving and investing is very important to our generation, especially with the very bleak look of social security. References Biger, N. (2008). Explanation of present values and net present values. Harvey, C. R. (2012). Time Value of Money. Retrieved January 16, 2013, from The Free Dictionary: http://financial-dictionary. thefreedictionary. com/Time+value+of+money McCracken, M. , (n. d. ) The time value of money. Retrieved January 2014 from http://www. teachmefinance. com/timevalueofmoney. html Present and Future Price of Money 8 Time Value of Money Overview. (n. d. ) Retrieved January 17, 2013, from University of West Florida: http://uwf. edu/rconstand/fin4424web/T2-TimeValue/T2-TimeValuePO1. htm Present and Future Price of Money.

Aaron Kornylos Struggle In Crossbar :: essays research papers fc

The Toughest Bar to Cross   Ã‚  Ã‚  Ã‚  Ã‚  The protagonist of “Crossbar'; has had his life altered violently and is now trying to cope with the effects of this great change. Aaron Kornylo is a champion high jumper until a piece of farm machinery severs his right leg and changes his life forever Now Aaron lives in anger, bitterly denying the inevitable: he must learn to accept his loss.   Ã‚  Ã‚  Ã‚  Ã‚  Until a farm accident changed his life forever, the young man of this story enjoyed the life of a world-class athlete. Before he was injured, Aaron Kornylo was one of the best high jumpers in Canadian sports history. He enjoyed the attention his victories brought him. Aaron recalls, “standing proud on the dais... being vested with his Commonwealth Games gold by Prince Charles himself'; (Gault 61). To Aaron it was a perfect life, or “his personal vision of the best of all possible worlds'; (Gaul 62). He was an accomplished athlete, “the best... Willow Creek had ever produced'; (Gault 62). Then people revered Aaron, and he was completely satisfied with his life. All of this changes abruptly and violently when a farming accident almost kills Aaron and necessitates the amputation of his leg. With his leg severed by a harvester, driven by his father, Aaron is continually haunted. He relives the incident through a nightmare of his: “first the noi se- the machine’s noise- would have to come, closer and closer and... then the pain, so terrible that the brain in it’s mysterious wisdom shut down the system... just after the scream'; (Gault 60). Forced to have his leg amputated, “the surgeons in Saskatoon had done a fine job, very neat... but he didn’t feel like giving [any] thanks'; (Gault 62). Looking down at “the rounded stump that had once been his right leg'; (Gault 62) Aaron would have no choice but to “get used to... that hated wooden leg'; (Gaul 62). The physical part of Aaron’s injury is the only visible sign of his problem, for this young man is now struggling with the prospect of life as an amputee.   Ã‚  Ã‚  Ã‚  Ã‚  His life drastically altered by the loss of his right leg, Aaron will have to learn acceptance and place hope in his future. Aaron is presently having a difficult time coping- both physically and mentally. He does not and will not accept the loss of his leg. By thinking of his lost high jumping career Aaron is saddened: “wiping at his eyes, [he] opened them and returned to his room, to everything he had been and would never be again'; (Gault 61).

Bordean Hill Cottages Essay

WHAT IS THIS LETTER ABOUT? I am writing this letter to apply for the position of a Senior Prefect at Eggar’s School as I believe I would be an ideal representative for the school and a good role model to those younger than me. INTRO – APPLYING APPLICATION I am genuinely very happy at Eggar’s School and it would be a privilege to be part of the Senior Prefect team underpinning the good work that is done by the staff. I see this position as a central part of the school’s foundations, traditions, and effective communication between students, teachers and the local community. Being a senior prefect is one of the top roles a student can have at a school. They work with the teachers to create a better learning environment and provide opportunities for others to succeed. THE ROLE – WHY IS THE ROLE IMPORTANT? HOW WE VALUE PREFECTS? – GENERAL Personally, I believe that having Senior prefects are important as they act as a leading demonstration of the school’s ethos to the ‘outside world’, not only to the parents of current and prospective pupils but the people in the community surrounding our school. Senior prefects act as leaders; they do this with energy and enthusiasm and with a willingness to put others before themselves. Given their status as leaders and role models, Senior Prefects are a visible and active presence around the school. WHY I WANT TO BE A SENIOR PREFECT What school will get out of it – I believe that if I was to become Senior Prefect, I would be able to share my knowledge and advice about the school to suggest improvements from an experienced pupil’s perspective. I would also be able to provide on-going practical support such as parents evenings, sports days, helping out Eggar’s newspapers etc. My knowledge about the school and how it runs from a pupils perspective (experience gained over the last four years) On-going practical supports (eg. Events, parents evenings, sports days, newsletters, teacher etc†¦) Representing the school Being part of the student voice – giving ideas I have gained from being a senior prefect and applying them towards What I want to get out with it   I think as a person I would also widely benefit from becoming Senior Prefect. I would develop my personal skills and qualities including leadership, responsibility and a sense of service which would help me later in life when I have future careers. Being able to demonstrate high expectations of myself and others is very important to me and something I have always tried to maintain over my many years at Eggar’s School. Managing the extra responsibility with professionalism, integrity, sensitivity and good humour is something I wish to gain if I was to become senior prefect. Nevertheless, I believe that becoming a Senior prefect will push me further to continue my commitment to academic success as this has always been very important to me. Furthermore, to receive recognition from Senior staff and being identified to the student body as someone who has, through my actions and efforts, aspired to exemplify the expectations of Eggar’s school would make me very proud. Looking ahead, I know that the experience of being a prefect will bring added value to my further education and career prospects as it will provide positive evidence for collage and job references. Training from the school/staff particularly in relationship to the leadership role To extend CV Provide positive evidence for collage and job references Develop my ability to use my initiative Benefit from the many opportunities to develop personal skills and qualities, including leadership, responsibility, sense of service and trust Being able to demonstrate high expectations of myself and others Make significant contributions to the wider life of the school To have continued commitment to academic success To be able to manage the extra responsibility with professionalism, integrity, sensitivity and good humour. Be self-motivated, proactive and a reliable team member Receive recognition from Senior staff and being identified to the student body as someone who has, through my actions and efforts, aspired to exemplify the expectations of Eggar’s school. STRENGTHS/WEEKNESSES WHY I AM THE RIGHT PERSON FOR THE JOB (GIVE EXAMLES) PERSONALITY AND SKILLS I think I am the right person to take on a role of senior prefect as I am a trustworthy, reliable and responsible person. On numerous occasions I have devoted time to come into school and participate in school fetes, parent’s evenings and showing parents round the school. This is not something that I feel I have to do, but something that I put myself forward for as I enjoy being part of the Eggar’s community. Furthermore, I have proved to be a good ambassador and role model for the school as in year 8 I put myself forward for the role of helping out at the OAP Party which takes place once a year. During this experience I am also very willing to take on extra responsibility. An example of this is when I volunteered to participate in Eggar’s E-learning group. This is where I had the opportunity to help primary school children develop their ICT skills. In the process, my team were successful in winning the competition for the task that was set. I have had a number of opportunities to develop my communication skills. An example of this when I was asked to participate in the BBC School Report in year 8 with around 20 other students. I found this very useful to help develop my team building skills and I will be able to use this skill if I got the role of senior prefect to help motivate and encourage the prefect team. In terms of academic success, I have always given my full commitment and been very self-disciplined. Which has given me very credible results. I was included in the Eggar’s 21 Club which gave me a real sense of pride. I felt that all my hard work had paid off and I would like to, as a Senior Prefect, be able  to encourage other students to work towards this accolade. I have always realised that maintaining a consistently high attendance record (98.3%) will result in a higher level of academic achievement. My participation in many sports days has given me invaluable teamwork and leadership skills, as I have represented my house in a variety of events. This is valuable experience for the position of Senior prefect, as I feel I will be able to carry out a wide variety of tasks required in this demanding position. UNIFORM Not only is it essential that I represent the school by acting very responsibly, both in my manner and academically, it is equally important that I take a pride in my appearance and dress appropriately. WHAT IS MY VISON/ WHAT I CAN BRING TO THE JOB I feel that I can bring a lot to the role of senior prefect as I am very self-disciplined and this quality would help manage my prefect duties with my study commitments and outside school activities. SUMMARY Thank you for considering my application and taking the time out to read it. Yours sincerely, Eleanor Howard

Story About My Life

My name is Fajita Streaks. I was born and raised in the beautiful city of monkeys called â€Å"Loopier†, which located in Thailand and was part of the Asia. I was born on October 19, 1993. 1 am a senior at Palatability High School. I am a good student with a 3. 6 grade point average. I am so proud to say that I am a hard working and dedicated student. Eve always put my best In everything that l. Eve done academically. I am not the type of person who gets put up to a big challenge and backs down.When I look at this picture of myself, I realize how much I've grown and hanged, not only physically, but also mentally as a person In the last couple of years. I'm thinking about enrolling In Faculty of Liberal Arts at Clang-Mall university which Is my best university ever. It has a good reputation with very qualified Instructors. And I'm sure that If I were a Clang-Mall University student, It will prepare me to make It appoint to become a flight attendant. I believe a great amount of effort, patience, and practice to Clang-Mall university and myself can get what I want to be. The surface I think I am like most young and modern Tall women: I take school seriously, I have dreams and goals for the future that I am determined to make happen, and I don't expect anyone to do the hard work for me. But there is only one thing that I can tell you who I am and how different I am. I am not kind of person who giving up everything easily. I spend most of my time with lots of book. If I want something badly, I'll will do everything to get it. I can say that Some people have a natural ability to do anything and master it, So do l.I have proven that I am a good worker by putting my effort into everything I do and excel in my daily routine. In order to be a good student you must not let opportunities slip by. I plan to make my college education a well rounded and broadening one that hopefully will allow me to explore both my academic and liberal arts interests so that wherever t he future takes me I will have a solid foundation upon which to build my dream career. At last, I hope I am right for your Faculty of Liberal Arts and your university.