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Purdue University Global Certificate of Deposit Essay

You, as a small business owner, are interested in buying a lot for $38,000. You have a CD (certificate of deposit) worth $40,000 now, which earns 4% compounded annually and will mature in 3 years. You are thinking about cashing in the CD to purchase the lot, but cashing in the CD now means you will have to pay a withdrawal penalty of $500. You project the value of the lot will be $45,000 in 3 years and you intend to use it for immediate equipment storage purposes for your business.

Your essay discussing what you, as a business owner, decide to do – buy or pass on purchasing the lot. In your essay you should address the following:

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  • Calculate how much your CD will be worth upon maturity.
  • Explain the differences (pros and cons) between these two investment options.
  • Prioritize and select the best option for your business and explain why that option is preferable.
  • Discuss the potential impact this choice will have on the future of your business.
  • Include at least one APA formatted reference supporting your decision.

Your essay should include an introduction, conclusion, at least 3 body paragraphs, and a highly developed purpose and viewpoint. It should also be written in Standard American English and demonstrate exceptional content, organization, style, grammar, and mechanics. There should be no evidence of plagiarism.

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