Quantitative Information for Decision Making in Business and Management - Report Writing Management Assignment Help

Assignment Task:

COURSE OBJECTIVES: 

CO1. Understand the basis and role of quantitative information for decision making in business and management. 

CO2. Perform basic mathematical calculations and manipulations, apply descriptive statistical methods and interpret the results. 

CO3. Use Excel to carry out calculations and produce diagrams for decision making in business. 

Part 1.

Matt is saving for the 2021 Santos Tour Down Under in Adelaide. The trip is estimated to cost $3,500, inclusive of all tickets and accommodation. 

(a) Matt will set aside his birthday gift of $1,250 in a simple interest account, earning 3% at a local bank. What will be the accumulated amount after 9 months? (Hint: Round final answer to nearest cents) 

(b) Matt also has saved $1,300 which earned over the summer break. He would like to invest his savings in an interest-bearing account that earns interest at a rate of 3.1% per year compounded quarterly. What will be the accumulated amount of savings from summer break and birthday gift after 9 months? (Hint: Round final answer to nearest cents). 

(c) Alternatively, Matt’s bank manager thinks, Matt should immediately pool his money and invest the all amount in an account for the same time which pays interest at a rate of 2.8% per annum, compounded monthly. Matt is worried that 2.8% p.a. is a lower interest rate compared to the current arrangement and he will not have enough for his trip. What will be the accumulated amount after 9 months in this alternative? (Hint: Round final answer to nearest cents) 

(d) Write a short paragraph (Use Text Box) advising Matt of his investment outcomes comparing both options, including any advice for a successful trip to Adelaide. 

Part 2.

Mary would like to purchase a touring bike. After extensive research online and visiting at a few local bike shops, she decided to purchase the newly released carbon adventure bike for $4,000. 

(a) The first bike shop is currently offering a deal of 12 equal monthly repayments with no interest charges. What cash amount should the shop be willing to accept instead of the no-interest plan? By considering the current saving interest as 3% per year which compounded monthly. 

(b) Alternatively, another bike store (the second bike shop) offers the same no-interest plan but require a 4% deposit and an establishment fee of $20 both of which are payable immediately (at the time of purchase). The second store also charges an account keeping fee of $2.90 per month due with each payment. What cash amount should the second store be willing to accept with its no-interest plan on the same bike which ticketed at $4,000? In this case, you can assume the second store value money at 6% per year compounded monthly. 

(c) Which shop offers a better deal for Mary? Explain briefly (2-3 sentences).

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