Problem: Write an article based on this summary: Delay discussion of salary. Let the employer offer the first number. Make a counter-offer. Justify your counter-offer. Don't make demands. Negotiate more than just salary. Do not take negotiations personally. Ask for time to consider a final offer. Get the offer in writing.

Answer: If you are interviewing for a job, then postpone for as long as you can any discussion of salary. The key is to make sure that prospective employers fall in love with you before you begin to discuss money. If the employer asks you what your salary requirements are, try to re-direct the conversation. Say, "Before getting into that, I'd like to hear a little more about" You should certainly wait until you have a job offer before discussing salary. However, the employer may require that applicants put their required salary in a cover letter. If required to do so, then follow the directions. But be sure to list your preferred salary as a range, e.g., $40,000-50,000. If you subsequently discover that the salary you listed on your cover letter is too low, then you can adjust it during the negotiations by stating that you didn't realize the full job responsibilities when you wrote your cover letter. By saying this, you can give yourself a reason for increasing the amount you want. By following this strategy, you can avoid naming a number that is too low. If the employer asks you to give a number, you can counter in several ways: ask what the typical range is for employees in this position at the company ask how much has been budgeted for the position say you'll consider any reasonable offer say that they have better information as to what would be a reasonable offer Once an initial offer is made, you should not accept it. Employers expect negotiation, so their initial offer typically includes some room for them to move up. Instead of accepting the first offer, counter-offer by asking for your ideal amount. If your ideal is $48,000 but the initial offer is for $35,000, then ask for $48,000. The employer is not going to move up to $48,000 on his or her own. You need to be prepared to ask for it. You can benefit by offering a few quick reasons why you think you are justified in asking for the salary. For example, you may have led your prior company to record growth in the previous year. You can say, "I appreciate the offer and am really excited to work for you. But given my drive and history of performance, I was expecting something in the $50,000 range." Also be direct. If you want more money, then say that. Do not try to convey that you want more money by talking about your expenses. For example, don't state, "Well I just bought a new car, so my expenses are really high." Instead, say, "I need more than that" or "I need a higher salary." You should negotiate with confidence, sure of your worth. If the employer cannot meet at least your minimum, then you should be willing to walk away. However, you do not need to boast of that fact or issue ultimatums. Don't say, "Forty thousand is my final offer!" Instead, say, "I need at least $40,000 to make switching jobs worthwhile." Always negotiate with professionalism and respect. Often, salary negotiations are initiated after an informal offer has been made but before a formal offer has been extended. You don't want anything you do in the salary negotiations to cast doubt on the employer hiring you for the job. Remember that base pay is only one topic of negotiation. After you have taken care of it, move on to the following: minimum severance pay performance expectations perquisites and benefits the schedule for future salary increases To effectively negotiate, you need to mentally separate yourself from the process. Remember that you don't know everything about the business's financial health, so perhaps the company is constrained in what it can offer you. Also, companies are under pressure to reduce overhead, and salaries are a big part of expenses. A salary offer that is lowering than what you would hope for is not a judgment on you personally. Always remember that negotiating a salary is a business transaction. You would not be terribly offended if someone offered you less than you wanted for vegetables that you grew in your garden or a craft that you made in your spare time. Similarly, don't be offended if the employer is resistant to offering you the salary that you want. Once you receive a final offer, you should ask for a couple of days to review. You want the time to clear your mind and look at the offer objectively. Most employers should give you a few days to a week to consider the offer. Even if your first instinct is to decline because the salary is too low, you should take the time to review the offer. Maybe an increase in benefits will help offset the low salary. Only by giving yourself time to review the whole offer can you make a sound decision as to whether to accept or reject the offer. Once you have agreed to a salary and a benefits package, ask for everything in writing. Your employer should have no problem memorializing the offer in writing. If the employer does resist, then you should reconsider working for this company. It is standard business practice to reduce contract offers to writing.

Problem: Write an article based on this summary: Wear cool outfits for spring and summer weddings. Wear warmer outfits for fall and winter weddings. Plan for inclement weather.

Answer: Selecting an outfit that you won't sweat through is key. However, be sure to keep your choice classy and suitable for the occasion. You can often wear sleeveless, strapless, and halter wedding dresses for an outdoor summer wedding, and may choose to wear a matching jacket at night when the sun goes down. You should, on the other hand, feel appropriately formal in dress pants and a button-down shirt with a suit jacket over it. Dress shoes that can be comfortably danced in are a must. Opt for a tuxedo if the wedding is very formal, or if you are a member of the wedding party. A long-sleeved dress or a suit made of warmer material may be more appropriate for a wedding during a cooler part of the year. If you plan on dancing, perhaps you can wear a jacket, sweater, or shawl that you can then take off while you dance. Go for comfort over style, as the more comfortable you are, the more confident you will appear. If there is a chance of rain, for instance, you will want to be prepared with a rain jacket and umbrella. Wear shoes that are waterproof, and bring a secure bag to stow any extra things that you may need, such as deodorant or makeup. If wearing a dress, be sure that it won't drag on the ground in order to prevent it from getting dirty.

Problem: Write an article based on this summary: Learn the details of the bond being offered. Understand the present-value formula. Revise the formula to account for annuity payments. Determine the variables to use in the formula. Calculate the bond's current value. Understand the meaning of the bond price.

Answer:
Generally, if you are pricing a bond, it is because you are considering buying or selling it. In either case, there are certain terms of the bond that you will know. For example, a bond might be offered as a $1,000 bond, to be paid in ten years, with a coupon rate of 10% and a required yield of 12%. You will use these data to calculate the present value of the bond, incorporating all future payments. Working with the example given above, the face value of the bond is $1,000. The term is ten years. The coupon rate is given as 10%, and the yield is provided as 12%. If the seller of the bond does not provide all this information, then you should ask for it. A basic present-value formula will account for today's value of money that is to be paid in the future. Because of interest rates, the money that you could hold today is generally considered more valuable than money that will be paid in the future. The present-value formula accounts for this difference. The basic present-value formula is Price=C/(1+i)+C/(1+i)2{\displaystyle Price=C/(1+i)+C/(1+i)^{2}} + C/(1+i)n+M/(1+i)n{\displaystyle C/(1+i)^{n}+M/(1+i)^{n}}. In this formula, the variables are assigned as follows: C{\displaystyle C} is the amount of each coupon payment that you expect to receive. i{\displaystyle i} is the interest rate M{\displaystyle M} is the face value of the bond at maturity. n{\displaystyle n} is the number of payment periods over the life of the bond. If you will expect two payments per year, which is standard, then a bond that matures in ten years will have 20 payment periods. Most bonds make coupon payments on a regular basis. This allows you to simplify the formula, to avoid an ambiguous added series. The revised formula may look slightly more complicated but is actually easier to apply. The revised annuity formula is: Price=C(1(1/(1+i)n)/i+M/(1+i)n{\displaystyle Price=C*(1-(1/(1+i)^{n})/i+M/(1+i)^{n}}. You need to apply the information that you know about the bond correctly in order for the formula to work. Use the example given above, of a $1,000 bond, to be paid in ten years, with a coupon rate of 10% and a required yield of 12%. With this information, the variables for the formula are as follows: C{\displaystyle C} is the amount paid on each coupon. The coupon rate given of 10% is for the year, meaning that you will receive 10% of the face value of the bond, or $100. This is commonly paid semi-annually, so the value for C is half that, or 50. i{\displaystyle i} is the interest rate given as the required yield of the bond. In this case, that is 12%. However, the interest rate given is for the year, but you will be calculating based on semi-annual payments, so use half that figure. The value of i{\displaystyle i} for your calculations should be 6%, which you will write as a decimal of 0.06. n{\displaystyle n} is the number of payment periods over the life of the bond. If you are basing your calculation on semi-annual payments, for ten years, n{\displaystyle n} will be 20. Insert the values into the formula and find the value of the bond. In this example, applying the values to the formula results in the following: Price=50*(1-1/(1.06)^20)/0.06)+1000/(1.06)^20. Performing the calculations results in a bond price of $885.30. The calculated value of $885.30 is less than the face value of $1,000. This means that the bond should sell at a discount in order to attract investors. This discount is due to the fact that the coupon payments are only 10% while the required, advertised yield of the bond is 12%. You would expect to receive less in coupon payments than the promised yield of the bond. If the interest rate were to decrease, then the value of the bond would increase. Interest rates and bond values operate in an inverse manner.