FINANCE FOR LAWYERS. LESSON TWO SUMMARY: TYPES OF CALCULATORS a. Simple b. Financial c. Scientific d. Reverse Polish Notation SYLLABUS
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1 FINANCE FOR LAWYERS CLASS ONE: LESSONS ONE AND TWO LESSON ONE PLAN: 1. Read LESSON ONE OBJECTIVES 2. Read COURSE INTRODUCTION (5 pages) 3. Read TEXT pages 1 to 2 4. Read NAVIGATION INSTRUCTIONS 5. Listen to LESSON ONE LECTURE and watch accompanying SLIDE PRESENTATION (104 slides; 16 minutes) LESSON ONE SUMMARY: WHY LAWYERS NEED TO KNOW FINANCE a. Tort Law b. Family Law c. Corporate Law d. Real estate and Property Law e. Retirement and Estate Planning f. Tax Law and Tax Planning g. Contracts h. Personal i. Buy a car or house ii. Save for a child s education iii. Pay off a student loan iv. Value a business v. Win the lottery LESSON TWO PLAN: 1. Read LESSON TWO OBJECTIVES and list of new terminology 3 to 4 3. Review NAVIGATION INSTRUCTIONS. 4. Examine GLOSSARY and review definitions of new terminology. 5. Listen to LESSON TWO LECTURE and watch accompanying SLIDE PRESENTATION (63 slides, 15 minutes) 6. Work LESSON TWO PROBLEMS. LESSON TWO SUMMARY: TYPES OF CALCULATORS a. Simple b. Financial c. Scientific d. Reverse Polish Notation Steven J. Willis All Rights Reserved. 1
2 CLASS TWO: LESSON THREE LESSON THREE PLAN: 1. Read LESSON THREE OBJECTIVES and list of new terminology 4 to Listen to LESSON THREE LECTURE and watch accompanying SLIDE PRESENTATION (289 slides, 60 minutes) 5. Work LESSON THREE PROBLEMS. LESSON THREE SUMMARY: TYPES OF CALCULATIONS a. Present Value of a Sum b. Future Value of a Sum c. Present Value of an Annuity d. Future Value of an Annuity e. Sinking Fund f. Amortization g. Interest Conversion CLASS THREE: LESSON FOUR AND 5A-1 LESSON FOUR PLAN: 1. Read LESSON FOUR OBJECTIVES and list of new terminology 15 to Listen to LESSON FOUR LECTURE and watch accompanying SLIDE PRESENTATION (109 slides, 28 minutes) 6. Work LESSON FOUR PROBLEMS. LESSON FOUR SUMMARY: CALCULATOR TERMINOLOGY h. Present Value (PV) i. Future Value (FV) j. Payment (Pmt) k. Nominal Annual Interest (I/yr) l. Number of Periods (N) m. Number of Periods per Year (P/yr) n. Mode (Begin or End) LESSON FIVE: INTEREST TERMINOLOGY: This LESSON divides into four subparts. SUBPART 1. LESSON FIVE A: INTEREST TERMINOLOGY Steven J. Willis All Rights Reserved. 2
3 LESSON FIVE A PLAN: 1. Read LESSON FIVE A OBJECTIVES and list of new terminology 15 to Listen to LESSON FIVE A LECTURE and watch accompanying SLIDE PRESENTATION (204 slides, 43 minutes) 6. Work LESSON FIVE A PROBLEMS. LESSON FIVE A SUMMARY: INTEREST TERMINOLOGY a. Simple Interest b. Nominal Annual Interest (NAI) c. Periodic Interest Rate d. Compound Interest e. Effective Interest Rate (EFF) CLASS FOUR: CONTINUE LESSON 5A-1; START 5B LESSON FIVE B PLAN: 1. Read LESSON FIVE B OBJECTIVES and list of new terminology 3. Examine APR STATUTE 4. Examine APR REGULATIONS 5. Examine GLOSSARY and review definitions of new terminology. 6. Examine ACRONYMS and review definitions of new terminology. 7. Listen to LESSON FIVE B LECTURE and watch accompanying SLIDE PRESENTATION (176 slides, 69 minutes) 8. Work LESSON FIVE B PROBLEMS. LESSON FIVE A SUMMARY: APR a. Annual Percentage Rate (APR) b. APR Federal statute c. APR Federal Regulations CLASS FIVE: CONTINUE LESSONS 5A-1 AND 5B; START LESSON 5B-1 LESSON FIVE B-1 PLAN: 1. Read LESSON FIVE B-1 OBJECTIVES and list of new terminology 3. Examine APY STATUTE 4. Examine APY REGULATIONS 5. Examine GLOSSARY and review definitions of new terminology. Steven J. Willis All Rights Reserved. 3
4 6. Examine ACRONYMS and review definitions of new terminology. 7. Listen to LESSON FIVE B-1 LECTURE and watch accompanying SLIDE PRESENTATION (1 slide) 8. Work LESSON FIVE B PROBLEMS. LESSON FIVE B-1 SUMMARY: APY a. Annual Percentage Yield (APY) b. APY Federal statute c. APY Federal Regulations CLASS SIX: LESSON FIVE C LESSON FIVE C PLAN: 1. Read LESSON FIVE C OBJECTIVES and list of new terminology 5. Listen to LESSON FIVE C LECTURE and watch accompanying SLIDE PRESENTATION (51 slides, 47 minutes) 6. Work LESSON FIVE C PROBLEMS. LESSON FIVE C SUMMARY: YIELD Simple yield a. Yield b. Yield to maturity c. Internal rate of return CLASS SEVEN: COMPLETE LESSON FIVE SERIES AND LESSON FIFTEEN LESSON FIFTEEN PLAN: 1. Read LESSON FIFTEEN OBJECTIVES and list of new terminology 5. Listen to LESSON FIFTEEN LECTURE and watch accompanying SLIDE PRESENTATION (159 slides, 45 minutes) 6. Work LESSON FIFTEEN PROBLEMS. LESSON FIFTEEN SUMMARY: INTEREST RATE CONVERSION i. Nominal to Effective Rate and Periodic Rate. ii. Effective Rate to Nominal Rate and Periodic Rate. Steven J. Willis All Rights Reserved. 4
5 iii. Periodic Rate to Nominal Rate and Effective Rate. CLASS EIGHT: LESSON SIX LESSON SIX PLAN: 1. Read LESSON SIX OBJECTIVES and list of new terminology 5. Listen to LESSON SIX LECTURE and watch accompanying SLIDE PRESENTATION (124 slides, 78 minutes) 6. Work LESSON SIX PROBLEMS. LESSON SIX SUMMARY: WHY PEOPLE CHARGE INTEREST a. Expected Inflation (or Deflation) b. Risk (Market and Individual) c. Liquidity CLASS NINE: CONTINUE LESSON SIX; LESSON SEVEN LESSON SEVEN PLAN: 1. Read LESSON SEVEN OBJECTIVES and list of new terminology 5. Listen to LESSON SEVEN LECTURE and watch accompanying SLIDE PRESENTATION (98 slides, 45 minutes) 6. Work LESSON SEVEN PROBLEMS. LESSON SEVEN SUMMARY: CHOICE OF AN INTEREST RATE d. Buying a House or Car e. Personal Injury Litigation f. Family Law Matters g. Business Valuations h. Retirement or Education Savings CLASS TEN: LESSONS EIGHT AND NINE LESSON EIGHT PLAN: 1. Read LESSON EIGHT OBJECTIVES and list of new terminology Steven J. Willis All Rights Reserved. 5
6 5. Listen to LESSON EIGHT LECTURE and watch accompanying SLIDE PRESENTATION (68 slides, 17 minutes) 6. Work LESSON EIGHT PROBLEMS. LESSON EIGHT SUMMARY: AFTER-TAX INTEREST RATE i. Why is it important? j. How to compute it. k. Examples LESSON NINE PLAN: 1. Read LESSON NINE OBJECTIVES and list of new terminology 5. Listen to LESSON NINE LECTURE and watch accompanying SLIDE PRESENTATION (180 slides, 43 minutes) 6. Work LESSON NINE PROBLEMS. LESSON NINE SUMMARY: PRESENT VALUE OF A SUM CLASS TEN: LESSON TEN LESSON TEN PLAN: 1. Read LESSON TEN OBJECTIVES and list of new terminology 5. Listen to LESSON TEN LECTURE and watch accompanying SLIDE PRESENTATION (176 slides, 33 minutes) 6. Work LESSON TEN PROBLEMS. LESSON TEN SUMMARY: FUTURE VALUE OF A SUM Steven J. Willis All Rights Reserved. 6
7 CLASS ELEVEN: LESSONS ELEVEN AND TWELVE LESSON ELEVEN PLAN: 1. Read LESSON ELEVEN OBJECTIVES and list of new terminology 5. Listen to LESSON ELEVEN LECTURE and watch accompanying SLIDE PRESENTATION (202 slides, 45 minutes) 6. Work LESSON ELEVEN PROBLEMS. LESSON ELEVEN SUMMARY: PRESENT VALUE OF AN ANNUITY LESSON TWELVE PLAN: 1. Read LESSON TWELVE OBJECTIVES and list of new terminology 5. Listen to LESSON TWELVE LECTURE and watch accompanying SLIDE PRESENTATION (192 slides, 50 minutes) 6. Work LESSON TWELVE PROBLEMS. LESSON TWELVE SUMMARY: FUTURE VALUE OF AN ANNUITY CLASS TWELVE: Continue LESSON TWELVE AND START LESSON THIRTEEN LESSON THIRTEEN PLAN: 1. Read LESSON THIRTEEN OBJECTIVES and list of new terminology 5. Listen to LESSON THIRTEEN LECTURE and watch accompanying SLIDE PRESENTATION (158 slides, 45 minutes) 6. Work LESSON THIRTEEN PROBLEMS. Steven J. Willis All Rights Reserved. 7
8 LESSON THIRTEEN SUMMARY: AMORTIZATION CLASS THIRTEEN: Continue LESSON THIRTEEN AND START LESSON FOURTEEN LESSON FOURTEEN PLAN: 1. Read LESSON FOURTEEN OBJECTIVES and list of new terminology 5. Listen to LESSON FOURTEEN LECTURE and watch accompanying SLIDE PRESENTATION (252 slides, 55 minutes) 6. Work LESSON FOURTEEN PROBLEMS. LESSON FOURTEEN SUMMARY: SINKING FUNDS CLASS FOURTEEN: LESSON SIXTEEN LESSON SIXTEEN PLAN: 1. Read LESSON SIXTEEN OBJECTIVES and list of new terminology 5. Listen to LESSON SIXTEEN LECTURE and watch accompanying SLIDE PRESENTATION 6. Work LESSON SIXTEEN PROBLEMS. LESSON SIXTEEN SUMMARY: SOLVING FOR AN INTEREST RATE Steven J. Willis All Rights Reserved. 8
A Textual Explanation
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