Experimental in science Essay Example for Free

Experimental in science Essay Experiment One: A researcher wanted to test the effect of caffeine on sleep. Fifty students volunteered to participate in the study and signed up for one of two nights. Thirty-three students participated on Tuesday night. They each were given two cups of regular coffee to drink one hour before going to sleep. Seventeen students participated on Wednesday night. They each were given two cups of decaffeinated coffee to drink one hour before going to sleep. Each student was monitored with an EEG (a test that looks at brain function) to record exactly when they fell asleep. Students in the caffeine group took significantly longer to fall asleep. The researcher concluded that caffeine interferes with the ability to fall asleep. 1. What was the independent variable for Experiment One? 2. What was the dependent variable for Experiment One? 3. What components of the experiment were set up properly? 4. How could Experiment One be improved? Experiment Two: A researcher wanted to determine if a new anti-anxiety drug decreased anxiety levels. Three hundred patients were given the new drug and three hundred patients were given a placebo (also known as a â€Å"sugar pill† that does not contain any medicine). All of the patients were told they were receiving the new drug and were monitored for six months. At the end of the six months, all of the patient information was analyzed and the researcher concluded that because the patients given the placebo indicated the same reduction in anxiety as the patients given the new drug, the new drug was ineffective in decreasing anxiety levels. 5. What was the independent variable for Experiment Two? 6. What was the dependent variable for Experiment Two? 7. What components of the experiment were set up properly? 8. How could Experiment Two be improved? 9. Describe how a variable was NOT controlled in one of the two experiments. How might this have impacted the results?

Complete Communities and Indulgent Diversities Essays -- Campus Life

Rebekah Nathan’s â€Å"Community and Diversity† focuses on the changing definition of the word community on college campuses and how that change affects the way students spend their free time and interact with other students. While campus directors set up and promote campus life community with good intentions of providing every student with interesting activities and helping first-time students make the jump from home-life to college-life, big communities usually only take away from the little free time left in the day and make students feel more isolated and alone. The demand on students to participate in every campus activity in order to form a healthy campus life community pushes students further away from organized groups and makes forming small, exclusive social networks even more desirable. At the beginning of her essay â€Å"Community and Diversity,† Nathan notes most students only feel a sense of togetherness in three areas: â€Å"age, pop culture, and a handful of (recent) historical events† (Nathan 101)—areas that do not exactly function as ties that bind. Even as campuses pour more resources and energy into trying to involve students and to create a functioning community, many students instead opt to reserve time for themselves and small groups of friends, forsaking the large, time-restrictive group for networks of â€Å"individualism, spontaneity, freedom, and choice† (Nathan 105). While these egocentric groups often overlap, they rarely have identical matches, as each student creates his or her own network on a basis of proximity and similar interests. Many of the groups are also either entirely comprised of a single ethnicity or include only one or two persons of different races. Although the large, organized form of campus... ...s purpose and motivation—to provide social structure, to educate, or to merely retain the majority of the freshman class? While a large-scale community can provide students with multiple activities with which to fill their days, it simply cannot offer each student much needed personal care and attention. Although Nathan conducts brilliant observational research in her essay, â€Å"Community and Diversity,† she merely scratches the surface of the situation, reporting on the evidence around her, but not reaching the heart of problem. Students today require a deeper understanding from other students—an understanding they cannot have in a large community. Instead of waiting for small-scale university programming to come along, students have to take matters, and their best interests, into their own hands and create small, private networks that cater to their individual needs.

Lai Bahadur Shastri Essay

Childhood is the most innocent phase in human life. It is that stage of life when the human foundations are laid for a successful adult life. Many children, instead of spending it in a carefree and fun-loving manner while learning and playing, are scarred and tormented. They hate their childhood and would do anything to get out of the dungeons of being children and controlled and tortured by others. They would love to break-free from this world, but continue to be where they are, not out of choice, but force. This is the true story of child labor. Innocent children are employed by industries and individuals who put them to work under grueling circumstances. They are made to work for long hours in dangerous factory units and sometimes made to carry load even heavier than their own body weight. Then there are individual households that hire children as domestic help and beat and physically torture them when they make a mistake. The children are at times made to starve and are given wor n out clothes to wear. Such is the story of millions of children in India painful and yet true. The two primary reasons for the ever-growing social malice of child labor are poverty and lack of education. Poor parents give birth to children thinking them as money-making machines. They carry infants to earn more on the streets from begging. Then as they grow they make them beggars, and eventually sell them to employers. This malady is rampant across the length and breadth of India. The status of the girl child is the key to achieving women’s equality and dignity which is, in many ways, a litmus test of the maturity of a society. Girls are to be the future mothers besides future policy makers and leaders. The importance of women hardly needs emphasis. Woman is the mother of race and is the liaison between the generations. Our culture attaches much importance to women, therefore, India has been symbolized as ‘MOTHER INDIA’. Jawaharlal Nehru once said, â€Å"To awaken the people it is the women who must bye awakened. Once she is on the move the family moves, the village moves, the nation moves.† But we see girls facing discrimination everywhere, in each corner of the world. Now-a-days corruption can be seen everywhere. It is like cancer in public life, which has not become so rampant and perpetuated overnight, but in course of time. A country where leaders like Mahatma Gandhi, Sardar Patel, Lai Bahadur Shastri and Kamraj have taken birth and led a value-based is now facing the problem of corruption. When we talk of corruption in public life, it covers  corruption in politics, state governments, central governments, â€Å"business, industry and so on. Public dealing counters in most all government offices are the places where corruption most evident. If anybody does not pay for the work it is sure work won’t be done. People have grown insatiable appetite for money in them and they can go to any extent to get money. Undoubtedly they talk of morality and the importance of value-based life but that is for outer show. Their inner voice is something else. It is always crying for money. It has been seen the officers who are deputed to look into the matters of corruption turn out to be corrupt. Our leaders too are not less corrupt. Thus the network of corruption goes on as usual and remains undeterred. Corruption is seen even in the recruitment department where appointments are ensured through reliable middle agencies. Nexus between politicians and bureaucrats works in a very sophisticated manner. Nexus does also exist between criminals and police. A total war against these and a few other evils like drinking and smoking is of utmost necessity. There is legislation against these evils but they can be effectively checked only if the people decide to check them.

The Defination Of The Fiance Market Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3586 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Introduction Accounting ratio (finance ratio) is related to two numeric values which is taken from financial statement. This ratio is mainly use for accounting; it can be use in many ratios. With this, we can evaluate overall financial conditions. Don’t waste time! Our writers will create an original "The Defination Of The Fiance Market Finance Essay" essay for you Create order Accounting ratio is used by managers, current and potential shareholders and creditors. The strength and weakness of a company can be comparing by using accounting ratio through security analysts. If a company are transact in financial market, the market price of the share is used in some financial statement. Accounting ratio can be express in decimal value and also in value of percent. For an example, 0.10 and 0.1%.Accounting ratio can specify much kind of aspects of a business and it is the whole part of the financial statement. Accounting ratio have its own categories according to the financial aspect of a business which the ratio measure. Here are the five different categories for measuring five various aspect of business performance. First is the profitability of company, which is to measure by accounting ratio. There is various type of calculation in profitability of company. The seven types are Gross profit markup, Gross profit margin, and Operating profit margin on sales, Pro fit margin on sales, basic earning power, return on total assets and return on common equity. (a) Gross profit markup (%) = x100 Where cost of goods sold = opening stock + purchases closing stock (b) Gross profit margin (%) = x100 Where net sales = sales return inwards (c) Operating profit margin (%) = x100 (d) Profit margin on sales (%) = x100 (e) Basic earning power BEP) = x100 Where total assets = fixed assets + current assets (f) Return on total assets (ROA) = x 100 =ÃÆ'Æ’-100 (g) Return of common equity (ROE) = x100 ==ÃÆ'Æ’-100 Second aspect is the liquidity of company. There are two types in this aspect. Both types are current ratio/working capital ratio and liquid ratio/quick ratio/acid-test ratio. (a) Current ratio/ working capital ratio = (b) Liquid ratio/ quick ratio/ acid-test ratio = Third aspect is asset management of company, there is six types of calculation measurement. The six are Asset management of company, fixed assets turnover, total assets turnover, debtor ratio, debtor payment period and day sales outstanding. (a) Inventory turnover or stock turnover = or (b) Fixed assets turnover = _______Net sales________ Fixed assets net book value Where net sales = sales return inwards (c) Total assets turnover = Where net sales = sales return inwards And total assets = fixed assets + current assets (d) Debtor ratio = (e) Debtor payment period = Debtor ratio ÃÆ'Æ’- 365 days / 52 weeks / 12 weeks (f) Days sales outstanding (DSO) = Fourth is debts management and capital gearing company. The types are debts ratio, capital gearing ratio, debts equity ratio, times interest earned, creditor ratio and creditor payment period. (a) Debts ratio / total debts to total assets ratio = (b) Capital gearing ratio = Prior charge debts capital Total capital = preference share capital + debenture + loan stock + loan (Ordinary share capital + preference share capital + reserves + long-term liabilities) Or (fixed assets + current assets current liabilities) (c) Debts equity ratio = (d) Times interest earned / interest cover = (e) Creditor ratio =____Creditor___ Credit purchase (f) Creditor payment period = creditor ratio ÃÆ'Æ’- 365 days / 52 weeks / 12 months (in days / week / months) =(In days/weeks/months) =ÃÆ'Æ’- 365 days / 52 weeks/12 months The last aspect is market value of investment to ordinary shareholders. The types of these aspects are earning per share, earning ratio, dividend over, earning yield, dividend yield, cash flow ratio and book value ratio (a) Earning per share = = (b) Price / Earning ratio = Market price per ordinary share Earnings per share (c) Dividend cover = _______Earning per share______ Net ordinary dividend per share Or = Profit after interest, after taxation, after preference dividend after minority interest Net ordinary dividend (d) Earning yield = = (e) Dividend yield = (f) Price / cash flow ratio = (g) Market price / book value ratio = == Accounting ratio even allows comparing between companies and industries. Generally, ratio has no meaning but the ratio of the firm is different and dissimilar industries and which is also facing different risk and competitions. We can also compare accounting ratio for business measurement with using inter-temporal and inter-firm. Inter-temporal can show the changes of price which can make comparison difficult unless if the adjustments are made. Impacts of changes in technology on the amount of assets, like the return and the future market. Impacts of a changing environment base on result which refers in accounting information. Potential effects of differences in accounting policies on reported resulted. Problems come with establishing with a ordinary base to equate other years. Inter-firm can elaborate the selection of industry norms and the benefits. Various firms having various financial and business risk profile and of the analysis. Various firms utilize various accounting polic ies. Inter-firm shows the impacts the size of the business and its comparators is unsafe, structure and returns. Impact of various environments on result, such as various countries / home-based versus multination multinational firms. GAMUDA BERHAD Gamuda berhad is one of the Malaysias major investments holding group and company which related to civil engineerings construction. This company is operating of three kinds of sectors: 1) Engineering and constructions which is related of buildings and constructions, such as buildings, railways, dams, highways and other constructions which is engaged to constructions. 2) Property development and club operations- which is related to the development of commercial properties, residential and club operations. 3) Water and expressway concessions- which related to the management and tolling of the highway operations and of the management of water supply. Gamuda is operates mainly in Malaysia and also operates in other countries such as Vietnam, Bahrain, Taiwan, Qatar and more. Gamudas headquater is located at Selangor Darul Ehsan and its about 1232 are employed by the management to work. Gamudas milestone 1976- The company of named Gamuda Berhad was created. 1992- 10/8/1992 Gamuda Berhad was list into the main board of the Kuala Lumpur stock exchange 1993- Gamuda was having partnership with Kesas sdn bhd, with a signed of conssesion agreement to undertake the management, construction, maintenance and operations of the Shah Alam Expressway for the period of nine months and twenty eight years. 1994- Gamuda own its very first land bank by buying the land of Ladang Bukit Kemuning located in Shah Alam. This shows that Gamuda has made an entry into property development. 1996- Gamuda signed a new concessions agreement with the Federal government through Lingkaran Trans Kota Holdings Berhad to make Lebuhraya Damansara Puchong as a private ownership. 2000- Gamuda was voted as the Best Asian Construction Company by the Euromoney magazine 2001- During November, Gamuda signed with National Highways Authority of India a concessions agreement to undertake the highways projects i n West Bengal, India 2002- During October, gamuda has signed with New Asia Construction Development Corporation of Taiwan and Kaohsiung Rapit Transit Corporation a joint agreement to undertake Kaohsiung Rapit Transit project in Taiwan 2004- The government of Malaysia has sent a letter to MMC-Gamuda to inform that joint venture that the government of Malaysia has made a decision that to postpone the implementation of the 2T to a day to be informed. 2006- Gamuda has won the award for new Sitra Causeway Bridges project in the country of Bahrain. 2010- During march, Gamuda Berhad acquires 60% of stake in Sai Gon Thuong Tin Tan Tang to bring up Celadon city in the city of Ho Chi Minh, Vietnam. WCT WCT is one of the Malaysias companies which are famous and related to the provision of engineering services. This company is operating of three kinds of sectors: 1) Civil engineering work: its specialized in highway constructions, earthworks and also related infrastructure works. 2) Property development: Development of commercial properties and of residential 3) Property investments: Holding the assets for the rental income and capital appreciations. WCT Milestone 1981- This company was found and named as WCT Earthwork and Buildings Contractors Sdn Bhd 1993- WCT has completed the first successful project of infrastructure- Selangor Turf Club, Sungai Besi, Malaysia 1997- Launched of very first property sales- Integrate Township Bandar Bukit Tinggi, Klang, Malaysia 2001- Receive award of Malaysia Construction Industries Excellence Award for special projects categories- Sepang F1 Circuit 2002- Awarded for builder of the year 2005- WCT has achieved very good property sales for RM 2.0 Billion 2008- WCT Land Berhad had been privatized for 100% owned subsidiary All the information has gather via internet. Ratio with formula (Profitability of Company) WCT Berhad Gamuda Berhad Gross Profit markup (%) = ÃÆ'Æ’- 100 x100 =8.23% Gross profit = 2455143000 1580125000 363348000 8595000 19973000 19260000 40866000 =422976000 Cost of the good sales = 1580125000 + 363348000 + 8595000 + 19973000 + 19260000 + 40866000 =2032167000 ÃÆ'Æ’- 100 = 20.81% Gross profit margin (%) = ÃÆ'Æ’- 100 x100 = 7.60% Gross profit = 2455143000 1580125000 363348000 8595000 19973000 19260000 40866000 =422976000 Net sales value = 2455143000 0 =2455143000 ÃÆ'Æ’- 100 = 17.23% Operating profit margin on sales (%) = ÃÆ'Æ’-100 x100 =5.23% ÃÆ'Æ’- 100 = 10.58% Profit margin on sales (%) = ÃÆ'Æ’-100 x100 =3.15% ÃÆ'Æ’- 100 = 11.43% Basic earning power(BEP)= ÃÆ'Æ’- 100 1 925 297 000+2 553 187 000= 4 478 484 000 x100 =5.45% Total assets = 2347737000 + 4203173000 =6550910000 ÃÆ'Æ’- 100 = 3.97% Return on Total assets= ÃÆ'Ɔ™- 100 x100 =3.28% Total assets = 2347737000 + 4203173000 =6550910000 ÃÆ'Æ’- 100 = 4.28% Return on common equity= ÃÆ'Æ’-100 388,856+369,256+492,134=1,250,246 x100 =11.77% ÃÆ'Æ’- 100 = 8.62% Ratio with Formula (Liquidity of Company) WCT Berhad Gamuda Berhad Current Ratio= =1.41:1 = 2.18 : 1 Acid-test ratio= 2,553,187-113,709=2,439,478 =1.36:1 = 2.14 : 1 Ratio with Formula ( Assets Management of Company) WCT Berhad Gamuda Berhad Inventory Turnover = or =37.92times Cost of sales = 1580125000 + 363348000 + 8595000 + 19973000 + 19260000 + 40866000 =2032167000 = 25.49 times Total Assets Turnover= =1.04times = 0.37 times Debtor Ratio= x100 =0.32:1 = 0.65 : 1 Days sales outstanding= =116.8 OR 0.65365days =237.25days Ratio with Formula (Debts management of company) WCT Berhad Gamuda Berhad Debts ratio= 1,183,958+1,807,550=2,991,508 =0.67:1 Total assets = 2347737000 + 4203173000 =6550910000 Debts equity ratio= =2.39:1 =1:1 Times interest earned or Interest cover= 4.85times =5.93 times Ratio with Formula (Market value of investment to stockholder of company) WCT Berhad Gamuda Berhad Earnings per share= = 388856/0.5=777 712 =RM0.19pershare =RM0.14 Price earnings ratio= OR =13.68times =22.86 times Earnings yield= = x100 =9.74% =5.83% Market price per book value ratio= = x100 =1.61:1 = = 1.99 : 1 Profitability of company Gross profit markup and gross profit margin The highest Gross profit markup and gross profit margin has been earned by Gamuda company compare to WCT for Gamuda has earned more gross profit. Operating profit margin on sales and profit margin on sales Gamuda has earned more than WCT in the operating profit on sales but in profit margin on sales gamuda has more sales than WCT. Basic earning power return on total assets and return on common equity Gamuda has more earning power than WCT, but WCT has more return on total assets and of return on common equity than Gamuda. Liquidity of company Current Ratio Gamuda has more high current ratio than WCT, if the current ratio increase than the average of the industry, large amount of current asset can be used to finance its current liabilities. Acid test ratio Gamuda has the higher acid test ratio than WCT. Asset management of company Inventory turnover of company WCT has higher inventory turnover of company compare to Gamuda. The higher invertory turnover indicates a fast stock turnover whereas the the lower inventory turnover where the goods purchased keep in store are slowly take out. Total asset turnover WCT has higher total asset turnover compare to Gamuda. The higher asset turnover indicates higher sales generate from the asset. Whereas the lower asset turnover indicates lower sales generate from the asset. Debtor ratio day sales outstanding Gamuda has higher debtor ratio day sales outstanding compare to WCT. The higher debtor ratio indicate that company bringing to shortage of money for paying back liabilities and facing short-term finance problem. Whereas the lower debtor ratio that company fast to collect money from the debtors. Debtor ratio Gamuda has more debtor ratio compare to WCT. The higher debts ratio indicate that company has a heavy debts burden with a large amount of debts and bearing high interest cost. Debts equity ratio WCT has higher debts equity ratio than gamuda. Debts equity ratio is used to measure the proportion of company debts in relation to its common equity. Times interst earned Gamuda has higher time interest earned than WCT. High capital gearing ratio of ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ º 0.5:1, high debts ratio and high debts equity ratio. Market value of investment to ordinary shareholder Earnings per share WCT has higher market value of investment of ordinary shareholder then Gamuda. Higher earnings per share indicates high rate of growth to high profit. Price earnings ratio Gamuda has higher price earnings ratio than WCT. Higher earnings ratio indicates that earnings per share are very low in relation to the share market. Earning yield WCT has higher earning yield compare to gamuda. Indicating high net income return to common stockholders. Market price per book value Gamuda has higher market price per book value than WCT. Market price indicating the share market price rises too high above its real assets value. Conclusion Accounting ratio is used by managers, current and potential shareholders and creditors. The strength and weakness of a company can be comparing by using accounting ratio through security analysts. If a company are transact in financial market, the market price of the share is used in some financial statement. Accounting ratio can be express in decimal value and also in value of percent. For an example, 0.10 and 0.1%.Accounting ratio can specify much kind of aspects of a business and it is the whole part of the financial statement. Question 2 2.1 Definition Todays world it is full about economics. In this economic, especially, the name and term of market which is mean the aggregate of buyers and sellers of some service and transaction between them. There are various dissimilar financial markets. Every single financial market make out with a various types of financial instrument in conditions of its assets backing it. Various financial markets serve various kinds of clients and function in various parts of the country. Financial market also disagree or to say differ from physical assets markets. The reason is because physical asset markets are also called as real asset markets or can be also called as tangible assets to deal with real, tangible and physical asset, for example machinery, food, furniture, computer and other physical assets. Financial markets are set to deal with various kind of financial instrument such as mortgages, bonds, share, notes and other which can claim on real assets as well. Financial markets can also claim on derivative securities or commodities whose values are derived from the changes in the value of the assets. Both physical asset market and financial market can also be run as the future market and spot market. Future market sort to the deal which being purchase and trade for the future delivery at the future day such as three months or eight months into the future whereas spot markets sort to the deal which is being purchase and trade for a spot or immediate delivery within a few days. There are few major financial markets. Money markets Financial markets dealing short-term debt securities, such as certificate of deposits, commercial papers, treasury bills and others which funds are loaned or borrowed for a short period or short-term. Generally the securities of money markets are very safe and this can ensure that the investment is very safe. This also returns a relatively low interest rate that is, most appropriate for a short-term time. Capital markets This is the financial markets which is dealing with shares or stocks and long-term debts which the cash are loaned and borrowed for a very long periods of a year or more. Mortgage markets This is the financial markets which are deal with loans on commercial, farmland, residential and others. Consumer credit markets This financial marketing which is dealing with loan on educations and vacations as well as loans for autos and appliances. Primary markets Primary market is called as the new issue market for it is the market that issuing securities. Many company, have enter the primary market to raise funds and money from the public to expand their business. The securities can be buy from the shareholders directly. Secondary markets This financial markets in which already have outstanding securities or the financial assets and stocks are traded among the investors after the issued corporations. Initial public offering (IPO) markets This financial market which in firm or corporation on go public by some offering securities or to say share to the public for the earliest time. Private market This financial market which is privately working out on financial transaction and directly between the two parties without going to consumers and public which the transaction may structure in any manner which appeals between the two parties. 2.2 Three different ways for transferring capital or fund from savers to borrowers in the financial markets There are three types of ways which the capital or fund can be transact between savers and borrowers. a) Direct transfer from savers to borrowers: When a corporations issues and bonds directly to the savers without getting through of any financial institution so that the borrower delivers its securities to the saver who in return give back money. With this, capital is transferred from savers to borrowers. b) Indirect transfer from savers to borrowers through investment banking house: It happens when theres an investment bank notes the issuance of the securities of corporations where the investment bank will serve as a centre man to facilitate the issuance of the securities of corporations by buying the securities of corporation then later on resell it back to the savers so that the fund who paid by the savers for buying of corporation which took the role as borrowers. Then , the securities of the corporations and the money of the savers pass would pass through the investment banking house from savers to the corporations. As the diagram below. c) Indirect transfer from savers to borrowers through a financial intermediary: It would happen when financial intermediaries such as mutual fund have money from the saver by issuing of its own securities or savers get issued of certificate of deposit. Later, the financial intermediate utilizes the fund which is collected from the savers to buy and hold of the other corporations securities as investment. As in this case, the fund is transferred to financial intermediary from the savers when the saver settles his/her money to financial intermediary in exchange for securities issued by the financial intermediary. Later, financial intermediary will move on forward about transferring this fund to the other corporation by paying cash out of the fund to buy securities of other corporations. Most of the saver will like to hold the certificate of deposit and the financial intermediarys securities, the reason why is, the certificate of deposit are very safe and more liquid than loans and mortgages. With this, financial intermediaries will increase greatly of the effici ency of money and capital markets. This has shown in the diagram below. 2.3 Investment banking house and various financial intermediaries which pay role in the fund transfer from savers to borrowers: 2.3.1 Investment banking house This is an organization which is form to distribute the new and latest issues of business Corporations securities to help corporation have fund for financing. 2.3.2 Financial intermediaries These specialized financial facilitate the transaction of funds from the savers to borrowers. Generally the financial intermediaries are very large, they will gain economies of scale in analyzing the worthiness and value of potential borrowers, even in processing and collecting loans or even helping individual savers to alter their fund investments. Here are the following major financial intermediaries. a) Commercial banks Historically, commercial banks were the big institution that managed and handled checking accounts. Federal Reserve System is one which expanded or contracted the money supply, but for nowadays commercial banks are providing a more ever-widening range of service including insurance. Commercial bank are very dissimilar from investment bank, the reason is because commercial banks borrowed out money to lenders whereas investment banks helps Business Corporation to extend capitals. b) Savings and loan associations They have served the individual savers and commercial mortgage lenders where they receive money from the small savers and then borrowed it out to the house buyers and also to the other type of lenders. The most significant economic process of saving is to make liquidity in capital market. c) Mutual saving funds These all are same for saving and for the loan associations which receive savings from individuals and then borrowed out money for a long-term basis to house buyers and consumers. d) Credit unions These are very cooperative organizations whose member to be having a similar bond so that unions collect savings from members and then lend it to other members who really needs the fund to finance their purchase, house mortgage and others. Credit unions would be the cheapest source of funds available to individual lenders. e) Pension funds Pension funds are retirements plan which is funded by the corporations or government for their workers is rewarded by the trust department of commercial banks or it can be done by some life insurance companies. Pension funds invest in mortgages, real estate and others. f) Life insurance companies These companies collect savings through annual premiums and then invest all these funds in physical assets and make payments to the beneficiaries of the insured parties. Life insurance companies have offered various types of tax-deferred saving plans specially created to give benefits to participant when they come at the age of retirement. g) Mutual funds For these, the funds should collected from the savers and then utilities the funds to buy stocks, short-term debt instrument and other issued by the business units. They achieve economics of scale in analyzing of securities, buying and selling of securities. Various mutual funds are made to meet the objectives of various kinds of savers. Still, there are bond fund for who those desire of safety, stock funds for those who are really willing to accept the risk in the hope for large and higher returns and other funds to be used as interest bearing checking accounts. There are various mutual funds with various purposes.