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Financial mathematics personal statement example 1.
In the financial sector, decisions must be made in split seconds that can result in either vast profits or significant losses. The collapse of Lehman Brothers, demonstrated to me the vulnerability of all businesses as the size and level of profit does not matter as poor decisions can still create loss.
Making financial decisions is intriguing to me as I ultimately would like to apply my mathematical ability into a career in finance. The concept of investment is interesting to me as it involves calculated risks which depend on an array of mathematical equations to ensure that companies make well informed decisions on how they invest their money.
When studying mathematics and finance at university I am keen to understand how to make viable financial decisions and calculate these risks in the context of different business models.
I enjoy the challenge of studying Mathematics as I am able to apply mathematical skills to solving real life problems. An example of this is using trigonometric identities to model scenarios that allow informed predictions to be made.
Studying business has allowed me to apply financial calculations to various organizational case-studies. Learning how to identify an organisation's cash flow and the breakeven point of a business has helped me to understand the importance of financial reporting to create a successful business.
In both business and ICT I have developed an ability to plan a project effectively using critical path analysis, PERT charts and a Gantt chart which are powerful tools to illustrate complex project schedules. Whilst studying Economics, it developed my ability to think logically by studying the topics of microeconomics and macroeconomics.
Understanding markets and the reasons for market failure was particularly interesting as I was able to learn about a wide range of factors that have an impact on micro and macroeconomics.
I have taken every opportunity to learn about the financial sector by taking part in the Student Investor Challenge. I carried out various analyses on share data developing my analytical skills.
Regular communication was required to the team of my ideas with mathematical reasoning to identify industries to invest in and the long term benefits of doing this.
I have applied my passion of mathematics by tutoring pupils GCSE mathematics on a weekly basis. In addition I also worked on a mathematics leadership team to deliver a day of Olympic themed maths challenges for 200 pupils in year 7.
As a member of the school council, I represent my fellow students and discuss ways to improve the student experience at my school. Furthermore I have regularly worked as an ambassador for my school working at parents evenings and open days.
Taking on this additional responsibility demonstrates my dedication and organisation skills that would be vital to apply to degree level study.
I am a hardworking and committed student and have managed complicated situations in handling finance and customer service through setting up my own family clothing business, working in McDonalds and in Boots. I continue to develop my confidence and leadership skills through taking part in stage performances and volunteering in my cultural society where I have been involved in dancing, hosting parties and singing.
I also have a strong interest in music which has expanded my mathematical ability, comprehensive and reading skills by playing instruments such as the piano and guitar. I am an active individual; I have been awarded Community Sports Leadership Award and I enjoy participating in taekwondo, basketball, yoga and dance.
I am excited by the vast career opportunities a degree in financial mathematics provides. In particular I am interested in applying my degree to predicting and forecasting financial opportunities and decisions. I am a highly motivated, organised and committed student that possesses the passion to become a successful mathematics and finance graduate at your university.
Profile info
This personal statement was written by Samiksha for application in 2013.
Samiksha's university choices Queen Mary, University of London Royal Holloway Brunel University University of Hertfordshire University of Greenwich
Green : offer made Red : no offer made
Samiksha's Comments
Firstly, good luck on UCAS process. Don't over complicate things, Do as much as you can and get as much help as you can from your teachers/ elders who have past experience.
Related Personal Statements
Wed, 08/05/2013 - 10:17
Your writing skills is amazing , well done for getting all your offers :) Good work
what were your AS results
Fri, 27/09/2013 - 17:20
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Financial Mathematics
What should i include in my personal statement.
Use your Personal Statement to help guide our review of the application materials. For example, if you had a low grade with an extremely difficult teacher, let us know. If you think you might need to cover some pre-requisite material by starting in the summer, let us know. You can also briefly explain your motivation to study Financial Math.
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Mathematics Personal Statement Examples
Hopefully, these examples of Mathematics Personal Statements will help you create a unique statement for your UCAS application .
I have always been fascinated by the world of mathematics and its ability to explain and understand complex phenomena in the world around us. From a young age, I have been drawn to the beauty and elegance of mathematical concepts and their ability to provide answers to some of the most challenging questions we face.
At school, I have excelled in mathematics, consistently achieving top grades in my exams and regularly participating in extra-curricular math competitions. I have particularly enjoyed studying topics such as calculus, algebra, and geometry, and I have found that my natural aptitude for problem-solving has allowed me to excel in these areas.
In addition to my passion for mathematics, I have also developed a strong interest in computer science. I have taught myself several programming languages and have enjoyed using these skills to create my computer programmes and simulations. I believe that the combination of my mathematical knowledge and computer programming skills would make me an ideal candidate for a degree in mathematical sciences.
As a university student, I am eager to continue exploring the fascinating world of mathematics and to push myself to the limits of my abilities. I am confident that a degree in mathematical sciences would provide me with the knowledge and skills necessary to pursue a successful career in this exciting and rewarding field.
I am applying to your university because I believe that it offers an outstanding programme in mathematical sciences, with a strong emphasis on both theoretical and practical applications. I am particularly impressed by the diverse range of research opportunities available, and I am eager to participate in cutting-edge research projects that will challenge and inspire me.
As a student with a passion for mathematics, I am excited at the prospect of studying at such a prestigious institution and I am confident that your programme would provide me with the knowledge and skills necessary to pursue a successful career in this field.
At school, I have consistently achieved top grades in my mathematics exams, and I have regularly participated in extra-curricular math competitions. I have a particular interest in topics such as calculus, algebra, and geometry, and I have found that my natural aptitude for problem-solving has allowed me to excel in these areas.
In addition to my passion for mathematics, I have also developed an interest in computer science. I have taught myself several programming languages and have enjoyed using these skills to create my computer programmes and simulations. I believe that the combination of my mathematical knowledge and computer programming skills would make me an ideal candidate for your degree programme.
As a university student, I am eager to continue exploring the fascinating world of mathematics and to push myself to the limits of my abilities. I am confident that a degree from the University of Cambridge would provide me with the knowledge and skills necessary to pursue a successful career in this exciting and rewarding field.
I am particularly impressed by the wide range of research opportunities available at your university, and I am eager to participate in cutting-edge research projects that will challenge and inspire me. I am also excited by the opportunity to study at such a historic and prestigious institution, and I believe that the intellectual environment at Cambridge would be the perfect place for me to grow and develop as a student.
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Financial Mathematics and Statistics Personal Statement (Sofiah Sidqi)
Sofiah Sidqi is currently studying BSc Financial Mathematics and Statistics at the London School of Economics and Political Science. She completed her A-Levels in Oxford International College and will be graduating in 2022. This personal statement was part of her successful application to LSE, UCL and King’s College London for Financial Maths and Stats.
The number system embedded in nature is so orderly yet wears a mask of mystique. From the infinite Golden Spiral seed pattern in sunflowers, to the fractal perspective of our universe, mathematics never fails to enthrall me. As a fashion enthusiast, seeing the application of William Thurston’s low dimensional topological concept collide with the Japanese fashion brand, Issey Miyake’s 2010 collection was a eureka moment. I combine my passion for mathematics with art as I attempt to understand the evolving definition of mainstream aesthetics, driven by proportion, patterns and shapes. The struggle for an answer brought me to statistics which taught me the importance of data interpretation in retrieving insights from human decisions. Enticed by the endless possibilities that Mathematics and Statistics brings, I am determined to explore further the applications of mathematics in our everyday life.
To grasp a deeper understanding about big data, I researched work conducted by WGSN – a trend forecasting powerhouse that advises growing businesses. Their approach of taking into account a broad range of factors in predicting trends serves as a powerful tool in both understanding and influencing people’s perspective of the world. Fascinated by the potential applications of data, I chose to complete an introductory course on data science and machine learning to understand their respective roles in deciphering patterns and trends. I learned that besides statistics, linear algebra and matrices are two vital components in making inferential techniques and discovering characteristics in a data set. I also yearn to learn about stochastic processes which are the back bone in evaluating probability and determining a propitious investment strategy and asset pricing theory. Venturing deeper into asset pricing, I was drawn towards the Fokker-Planck equation which deals with the probability distribution of the price of an asset in the future. The emergence of statistics and financial instruments has undeniably played a crucial role in not only driving the innovation of financial markets but also in aiding firm’s decision-making. This realisation echoed what I have learned in school where Bayes Theorem and Hypothesis Testing came into life. I am excited to explore further the concepts of Bayesian statistics and stochastic processes at university level to understand the science behind deducing probability.
Attending the Young Investment Banker programme at UCL provided me an opportunity to explore the role of finance as I pitched business strategies to Pepsi’s executives. During my internship at Maybank, I gained insight into the basics of securities analysis and financial reporting, while I took the initiative to learn about the application of stochastic processes on price fluctuations over time. At the national finals of the ICAEW BASE Competition, I needed to deal with data sets where I led my teamto interpret both accounting and market data in producing an actionable strategy to optimise the growth of a wearable technology company. Our efforts were rewarded when we received the ‘most commercially aware’ award.
As a Queens Guide and the recipient of the Oxford Scholar’s Award, I learned to manage my timebetween school work and extracurricular activities and persevere when the going gets tough while my experience as Vice President of the Student Council enhanced my communication skills. I discovered that challenging problems excited me while competing in the Singapore and Asian schools Math Olympiad, which pushed me to solve mathematical problems beyond my school syllabus.
Seeing the diverse possibilities of mathematics in unexpected places such as fashion design, it is evident to me that mathematics and statistics will continue to play a vital role in shaping our society. By learning the underlying language of mathematics, I wish to be a part of the boundless potential of mathematics and uncover new, and exciting applications of it.
DISCLAIMER: The personal statements on this site are strictly meant as a starting point to give an idea of how successful personal statements look like. There is no surefire formula to writing good personal statements. COLLEGELAH IS STRICTLY AGAINST PLAGIARISM OF ANY KIND . UCAS employs a plagiarism check system that checks applicants’ work against other published writing so please DO NOT PLAGIARISE.
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General Information on Graduate Admission at USC
Application Deadline:
FALL March 30
SPRING October 15
Please visit the Graduate Admission page to apply online . A complete application package must contain:
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- Official copies of academic transcripts (for international students, transcripts in both original language and English translation)
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- Personal statement
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- TOEFL or IELTS Scores (see the Graduate Admission English Proficiency website for more information)
IMPORTANT: If you are submitting transcripts, please do not send them until after you have submitted your online application and received your 10-digit USC ID number. Please mail official transcripts to:
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- What is the time value of money?
The mathematics of TVM
Applications of tvm, how to calculate tvm.
- TVM in personal finance
- Challenges and considerations
Understanding the Time Value of Money
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- The time value of money (TVM) is the concept that a dollar today is worth more than a dollar tomorrow.
- Understanding TVM allows you to evaluate financial opportunities and risks.
- The principle underlies almost every financial and investing decision you make.
The time value of money (TVM) is the concept that the money you have in your pocket today is worth more than the same amount would be if you received it in the future because of the profit it can earn during the interim. For example, let's say you can either receive a $100,000 payout today or $10,000 per year for the next ten years totalling $100,000. Ignoring taxes, the $100,000 payout today is worth more, according to the TVM principle, because you can put your money to work. For example, you can invest in stocks, buy real estate, or put it in a certificate of deposit (CD) .
Understanding the time value of money can help you in making decisions ranging from which job has better salary terms, what's a good rate for a loan, or whether the investment you're considering has good growth potential.
What is the time value of money?
Definition and basic principles .
The time value of money is an important concept to keep in mind because your money, once invested, can grow over time. Even if you were to just put it into a CD or savings account, the money can earn compound interest , and the impact of compounding on investment growth can be significant.
On the flip side, money that is not invested will lose value over time. Just think about what you could buy for $1 when you were a child compared to what that same $1 would get you today. This is because inflation and loss of potential earnings erode the value of your dollars. If you keep your money under your mattress for 10 years, not only will it be worth less because of inflation, but you'll also miss out on the interest it can earn when invested.
"So many young people are so busy juggling life, they are missing out on the compounding returns of investing smaller amounts of money," says Jeff Rose, founder of GoodFinancialCents.com . "Say, for example, a 25-year-old were to invest $50 per month today. They would have to invest 3-4 times that to make up the difference if they procrastinated until they were 35."
TMV is a fundamental concept that provides the foundation for virtually every financial and investing decision. From taking out a loan to negotiating a salary or making a purchase decision, use the time value of money to evaluate the best financial course of action.
To calculate TVM, you need a handful of variables.
Present value (PV)
Present value (PV) is the value that a future sum of money (or combination of income streams) has right now. For example, the present value of $1,050 that you will earn one year from today with an interest rate of 5% is $1,000.
Future value (FV)
Future value (FV) is the value that a current sum of money (or asset) will have at a predetermined future date based on an expected return (or rate of growth). For example, the future value of $1,000 one year from today based on a 5% annual growth rate is $1,050.
Discount rate
The discount rate is the rate of return used to determine the present value of an asset or investment. Another way of putting this is that the discount rate is the return an investor would miss out on by accepting an amount in the future as opposed to accepting it immediately.
Compounding frequency
The compounding frequency, or how often interest is assessed, can have a significant impact on future value. If an investor puts their money into an interest-bearing asset, this interest can be assessed on a monthly or quarterly basis, for example.
Investment analysis
The TVM can be harnessed when evaluating different investments. For example, interested parties can use TVM when valuing bonds , as these securities have a par value, meaning a price that issuers have promised to pay the buyer at a specific point in time. Further, many bonds make regular (coupon) payments to their owners. Armed with this information, interested parties can calculate a bond's present value.
Loan amortization
The TVM plays a key role in amortization, which is basically the process of lowering the book value of a loan over time. Lenders need to calculate payment schedules when extending credit to borrowers. A dollar lent to a borrower today is worth more than a dollar paid back either tomorrow, next month or a year from now.
Retirement planning
When planning for retirement, investors can benefit from compound interest, which refers to interest that is charged on top of interest that has already built up. For example, if an investor puts $100 into an asset that pays 5% in interest every year, it will be worth $105 at the end of the first year. However, at the end of the second year, it will be worth $105 (1.05) or $110.25.
Formulas and examples
Practical examples of TVM calculations can help provide clarity for interested parties. We'll use one here. Let's say someone would like to buy your car and they can offer you $15,000 for it today or $15,500 if they can pay you two years from now. TVM teaches us that $15,000 today is worth more than $15,500 in two years.
Here's the basic formula used for this example:
- PV is the present value of money.
- i is the interest rate or other return that could be earned.
- t is the number of years to take into consideration.
- n is the number of compounding periods of interest per year.
This will help you determine how much money you will have if you took the $15,000 and invested it today or if you waited two years for the $15,500.
TVM in personal finance
Budgeting and saving .
When budgeting , individuals should keep in mind that every dollar they avoid spending can be saved, which can in turn be invested in something that will generate a positive return over time. Any dollar saved and invested today will be worth more than the same dollar saved and invested tomorrow.
Debt management
When managing debt , individuals should keep in mind that any dollar eliminated from their debt today will be less costly than the same dollar eliminated from their debt tomorrow (or further down the line). As a result, many individuals can benefit from focusing on frugality, keeping their expenses down and using whatever excess funds they have to reduce their existing debt load.
Planning for future expenses
Individuals can use the TVM to their advantage when planning for future expenses. More specifically, they can invest now in assets that will rise in value over time so that they can make these purchases.
Challenges and considerations
Inflation and its impact on tvm .
Inflation has a negative impact on the TVM, because it causes the purchasing power of money to decrease over time. In other words, a dollar will be worth less in the future than it is today.
Interested parties can overcome the inevitable deterioration of their purchasing power by investing in assets that generate positive returns.
Estimating future costs and returns
Nobody knows for certain what will happen in the future. For example, you have no idea how much the car you want to buy now will cost five years from now. It is impossible to know how much the components, for example steel, will rise in value.
When it comes to investment, risk is an inherent factor. You never know for certain what returns a specific investment will provide. While a bond may have a par value, the issuer of that bond could potentially default and never pay you back the amount you invested in the first place.
The time value of money is an important concept to understand for personal finance. It can help you decide how much to budget, evaluate a job offer, figure out if a loan is a good deal and help you save for the future. TVM showcases why your money loses value over time because of inflation.
Apply the TVM formula to any loans you have to determine if it's better to pay them off or invest. You can also use it to see how increasing your retirement contributions can affect the future value of your dollars. It's a great tool that gives you information that can help you make smarter financial decisions.
The time value of money is crucial because it allows individuals and businesses to evaluate how much money will be worth in future terms, which can in turn enable them to make better-informed saving, investment and borrowing decisions.
Inflation has a negative impact on the time value of money, because it decreases the purchasing power of money over time. A dollar will purchase more today than it will in the future.
Being aware of the time value of money can certainly motivate an individual to build up personal savings, as money saved today will be worth more than money saved tomorrow.
Simple interest is assessed on the principal, for example the amount saved, whereas compound interest is assessed on the original principal and all interest payments that have been made thus far.
You can pick the right discount rate by harnessing the risk-free rate, expected inflation and the risk premium for the investment in question. As a general rule of thumb, the higher the perceived risk, the greater the discount rate needs to be to compensate for that risk.
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An official website of the United States government
Gross Domestic Product, First Quarter 2024 (Advance Estimate)
- News Release
- Related Materials
- Additional Information
Real gross domestic product (GDP) increased at an annual rate of 1.6 percent in the first quarter of 2024 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2023, real GDP increased 3.4 percent.
The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (refer to “Source Data for the Advance Estimate” on page 3). The “second” estimate for the first quarter, based on more complete source data, will be released on May 30, 2024.
The increase in real GDP primarily reflected increases in consumer spending, residential fixed investment, nonresidential fixed investment, and state and local government spending that were partly offset by a decrease in private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).
The increase in consumer spending reflected an increase in services that was partly offset by a decrease in goods. Within services, the increase primarily reflected increases in health care as well as financial services and insurance. Within goods, the decrease primarily reflected decreases in motor vehicles and parts as well as gasoline and other energy goods. Within residential fixed investment, the increase was led by brokers’ commissions and other ownership transfer costs as well as new single-family housing construction. The increase in nonresidential fixed investment mainly reflected an increase in intellectual property products. The increase in state and local government spending reflected an increase in compensation of state and local government employees. The decrease in inventory investment primarily reflected decreases in wholesale trade and manufacturing. Within imports, the increase reflected increases in both goods and services.
Compared to the fourth quarter, the deceleration in real GDP in the first quarter primarily reflected decelerations in consumer spending, exports, and state and local government spending and a downturn in federal government spending. These movements were partly offset by an acceleration in residential fixed investment. Imports accelerated.
Current‑dollar GDP increased 4.8 percent at an annual rate, or $327.5 billion, in the first quarter to a level of $28.28 trillion. In the fourth quarter, GDP increased 5.1 percent, or $346.9 billion (tables 1 and 3).
The price index for gross domestic purchases increased 3.1 percent in the first quarter, compared with an increase of 1.9 percent in the fourth quarter (table 4). The personal consumption expenditures (PCE) price index increased 3.4 percent, compared with an increase of 1.8 percent. Excluding food and energy prices, the PCE price index increased 3.7 percent, compared with an increase of 2.0 percent.
Personal Income
Current-dollar personal income increased $407.1 billion in the first quarter, compared with an increase of $230.2 billion in the fourth quarter. The increase primarily reflected increases in compensation and personal current transfer receipts (table 8).
Disposable personal income increased $226.2 billion, or 4.5 percent, in the first quarter, compared with an increase of $190.4 billion, or 3.8 percent, in the fourth quarter. Increases in compensation and personal current transfer receipts were partly offset by an increase in personal current taxes, which are a subtraction in the calculation of DPI. Real disposable personal income increased 1.1 percent, compared with an increase of 2.0 percent.
Personal saving was $755.7 billion in the first quarter, compared with $815.5 billion in the fourth quarter. The personal saving rate —personal saving as a percentage of disposable personal income—was 3.6 percent in the first quarter, compared with 4.0 percent in the fourth quarter.
Source Data for the Advance Estimate
The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency. Information on the source data and key assumptions used in the advance estimate is provided in a Technical Note and a detailed " Key Source Data and Assumptions " file posted with the release. The second estimate for the first quarter, based on more complete data, will be released on May 30, 2024. For information on updates to GDP, refer to the "Additional Information" section that follows.
* * *
Next release, May 30, 2024, at 8:30 a.m. EDT Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) First Quarter 2024
Full Release & Tables (PDF)
Technical note (pdf), tables only (excel), release highlights (pdf), historical comparisons (pdf), key source data and assumptions (excel), revision information.
- GDP Lisa Mataloni 301-278-9083 [email protected]
- Corporate Profits Kate Pinard 301-278-9417 [email protected]
- Media (BEA) Connie O’Connell 301-278-9003 [email protected]
Additional resources available at www.bea.gov :
- Stay informed about BEA developments by reading the BEA blog , signing up for BEA's email subscription service , or following BEA on X, formerly known as Twitter @BEA_News .
- Historical time series for these estimates can be accessed in BEA's interactive data application .
- Access BEA data by registering for BEA's data Application Programming Interface (API).
- For more on BEA's statistics, refer to our online journal, the Survey of Current Business .
- BEA's news release schedule
- NIPA Handbook : Concepts and Methods of the U.S. National Income and Product Accounts
Definitions
Gross domestic product (GDP), or value added , is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment.
Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ because they are constructed using largely independent source data.
Gross output is the value of the goods and services produced by the nation's economy. It is principally measured using industry sales or receipts, including sales to final users (GDP) and sales to other industries (intermediate inputs).
Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." Also referred to as "nominal estimates" or as "current-price estimates."
Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes.
The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents.
The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, "persons."
Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.
Disposable personal income is the income available to persons for spending or saving. It is equal to personal income less personal current taxes.
Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments.
Personal saving is personal income less personal outlays and personal current taxes.
The personal saving rate is personal saving as a percentage of disposable personal income.
Profits from current production , referred to as corporate profits with inventory valuation adjustment (IVA) and capital consumption (CCAdj) adjustment in the National Income and Product Accounts (NIPAs), is a measure of the net income of corporations before deducting income taxes that is consistent with the value of goods and services measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic measures used in the national income and product accounts. Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. The rest-of-the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW.
For more definitions, refer to the Glossary: National Income and Product Accounts .
Statistical conventions
Annual-vs-quarterly rates . Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. For details, refer to the FAQ " Why does BEA publish estimates at annual rates? "
Quarterly not seasonally adjusted values are expressed only at quarterly rates.
Percent changes . Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For details, refer to the FAQ " How is average annual growth calculated? " and " Why does BEA publish percent changes in quarterly series at annual rates? " Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. All published percent changes are calculated from unrounded data.
Calendar years and quarters . Unless noted otherwise, annual and quarterly data are presented on a calendar basis.
Quantities and prices . Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2017). Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). For details on the calculation of quantity and price indexes, refer to Chapter 4: Estimating Methods in the NIPA Handbook .
Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2017) and then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. In tables that display chained-dollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate.
Updates to GDP
BEA releases three vintages of the current quarterly estimate for GDP. "Advance" estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency. "Second" and "third" estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available.
The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign.
Annual and comprehensive updates are released in late September. Annual updates generally cover at least the five most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements.
Unlike GDP, advance current quarterly estimates of GDI and corporate profits are not released because data on domestic profits and net interest of domestic industries are not available. For fourth quarter estimates, these data are not available until the third estimate.
GDP by industry and gross output estimates are released with the third estimate of GDP.
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Personal statement example mathematics personal statement.
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Mathematics Personal Statement
Mathematics at times can be the most frustrating subject, the best feeling in maths for me is when I get the right answer to a very problematic question. Every mathematical problem is like a puzzle, at times it can be hard work but all you need is the right jigsaw pieces to fit the puzzle. In the words of Stefan Banach, it has made me realise that 'Mathematics is the most beautiful and most powerful creation of the human spirit.' This caught my attention because mathematics shows a solution to every problem for example, in my A level further mathematic studies I came across to a topic called 'Proof by induction' which has been the most alluring thing in my mathematic studies so far. Proof by induction is a challenging topic but the beauty about it has intrigued my love for mathematics even more. I have enjoyed all my modules for mathematics. My favourite area is Pure Mathematics because it focuses on thought processes and problem solving. Differentiation and integration Is my favourite part of Pure Mathematics.
A level Chemistry is helping me strengthen my knowledge in mathematics because there are a lot of calculations you have to do for example: chemical equations, calculating molarity and speed of atoms. Studying Chemistry demands that I grip onto concepts and the application of mathematics helps me gain general solutions to problems. I have enjoyed studying my AS modules for Further Mathematics and it has given me a huge understanding which I will take forward to A2.
Studying mathematics continues to be extraordinarily enjoying and the difficult task of trying to solve questions presented in a strange way is very pleasing. For Further Mathematics I had to teach myself decision 1 in the few months leading up to the June examination and now during the summer holidays I am self-teaching Core 3. I enjoy working independently and pushing myself to achieve. I particularly enjoy trigonometry especially questions where you have to prove the left or right-hand side of the equation, it's almost like problem solving and trying new ways of approaching the question as there are more solutions.
I love working with young people because I take the opportunity of inspiring them to take interest in something that will be beneficial for them. Whilst on my work experience at Yew Tree Primary School I was a teaching assistant helping children out with their subjects, in particular mathematics. Throughout my work experience I gained confidence talking to others, problem solving for example tackling questions that students wanted help on and the teachers.
I took part in the National Citizen Service challenge. At the start of the challenge I set goals which were to build more confidence and communication. My NCS experience has been amazing and I think by participating it has made me better as a person also improve skills such as communication. In the first week I was a team leader where I had to provide information to the team and the plan for the day. For the second week I worked in a centre where there was people with mental disorders. I planned a session for the people at the centre which had to be sport-related. We had a pitch day where my team presented our social action project to a panel of Dragons. I was part of the finance team where I had to use my mathematical skills and problem-solving skills for the social action project. The social action project was to raise awareness about visual impairment, by doing this it made me a better public speaker.
Sports has always animated my competitive nature and I've always wanted to strive to become better, be it mentally or physically. I enjoy playing for my local cricket club where in my first season I won an award for all round performance. I like to acknowledge the game of cricket, be it on-field or off-field.
I believe that university education will not only expand my knowledge in mathematics but let me experience a lot of new things and meet people who have various interests.
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- Philips' First-Quarter Results 2024
Philips delivers first-quarter results in line with 2024 performance improvement plan; Resolves the Respironics personal injury and medical monitoring litigation in the US for USD 1.1 billion
Apr 29, 2024 | 6 minute read
- Group sales amounted to EUR 4.1 billion, with comparable sales growth of 2.4%
- Comparable order intake -3.8%, mainly due to China
- USD 1.1 billion Respironics litigation settlement reached in the US (provision recognized of EUR 982 million)
- Income from operations EUR -824 million, including above provision
- Adjusted EBITA margin of 9.4% of sales
- Free cash outflow of EUR 336 million
- EUR 540 million agreement reached with insurers for Respironics recall-related product liability claims
Roy Jakobs, CEO of Royal Philips:
“We started the year in line with our plan, with order intake growth outside China turning positive and strong margin improvement. Supported by key innovation launches and strong focus on our execution priorities, we remain confident in our performance improvement plan for 2024. Patient safety and quality is our highest priority, and we have taken important steps in further resolving the consequences of the Respironics recall. The remediation of the sleep therapy devices for patients is almost complete, and the test results to date show the use of these devices is not expected to result in appreciable harm to health. We do regret the concern that patients may have experienced. The approved consent decree and economic loss settlement, and now the resolution of the personal injury and medical monitoring litigation in the US, are significant milestones and provide further clarity on the way forward for Philips.”
By clicking on the link, you will be leaving the official Royal Philips ("Philips") website. Any links to third-party websites that may appear on this site are provided only for your convenience and in no way represent any affiliation or endorsement of the information provided on those linked websites. Philips makes no representations or warranties of any kind with regard to any third-party websites or the information contained therein.
You are about to visit a Philips global content page
Press release | January 29, 2024
Philips delivers strong full-year results; agrees with FDA on terms of consent decree focused on Philips Respironics in the US
Press release | October 23, 2023
Philips' Third-Quarter Results 2023
Press release | July 24, 2023
Philips' Second-Quarter Results 2023
Press release | April 24, 2023
Philips' First-Quarter Results 2023
Press release | January 30, 2023
Philips' Fourth-Quarter and Annual Results 2022
Press release | October 24, 2022
Philips' Third-Quarter Results 2022
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I am a highly motivated, organised and committed student that possesses the passion to become a successful mathematics and finance graduate at your university. This personal statement was written by Samiksha for application in 2013. Samiksha's university choices. Queen Mary, University of London. Royal Holloway.
Financial Mathematics Personal Statement. My ambition to study for a degree in the area of financial mathematics is inspired by what I believe is a natural aptitude for mathematics and a deep interest in the world of business. I am something of a natural entrepreneur and in the small experience I have already had of directing an organisation ...
This is a real personal statement written by a student for their university application. It might help you decide what to include in your own. There are lots more examples in our collection of sample personal statements. ... University Lancaster (Bsc Financial Mathematics) - Offer (ABB) Insurance; University of Sheffield (Bsc Financial ...
What else to include in your maths personal statement. Your extra-curricular activities: tutors want to know about your sporting, cultural, or community involvement, or anything else you do outside your studies that demonstrates drive, commitment, enthusiasm, and your potential to excel. What you'll contribute: uni isn't just about studying ...
"In some instances, based on the personal statement, I have advised applicants to consider another of Aberystwyth's mathematical courses that range from our general mathematics course through to specialisms such as mathematical modelling - or courses tailored for specific careers such as financial mathematics, data science or mathematics and ...
Mathematics degree personal statement example (1z) Cambridge application. Mathematics degree personal statement example (2a) Oxford application. Mathematics degree personal statement example (2b) five offers including Cambridge, Warwick. Mathematics degree personal statement example (2c) Cambridge offer, Durham rejection.
Mathematics and Finance Personal Statement. My ambition to study for a degree in mathematics and finance has been inspired by my deep interest in my A-level courses in mathematics, ICT and accounting, and by a natural aptitude for mathematical puzzles and challenges. At the same time I have found myself increasingly interested in the way the ...
Maths Personal Statement Examples | Uni Compare. Taken from 65,000+ data points from students attending university to help future generations. Discover university rankings devised from data collected from current students. ULAW - The largest provider of legal education in the UK [HESA 21/22]
By root. Use your Personal Statement to help guide our review of the application materials. For example, if you had a low grade with an extremely difficult teacher, let us know. If you think you might need to cover some pre-requisite material by starting in the summer, let us know. You can also briefly explain your motivation to study Financial ...
My personality, as well as my non-academic interests, define me as a creative and gregarious young man who works well independently and as part of a team. I have a great work ethic and believe that a great attitude and hard work are key characteristics for success at university and a future career as a Maths teacher.
Mathematics and Economics Personal Statement. The combination of the holistic approach of Economics with the precise detail of Mathematics is exciting and would give me the skills to excel in the field that I am interested in: the financial sector. I was reading a BBC article about issues Scotland had with the public expenditure they received ...
15 Dec,2022 Alan Withworth. Hopefully, these examples of Mathematics Personal Statements will help you create a unique statement for your UCAS application . Example 1. I have always been fascinated by the world of mathematics and its ability to explain and understand complex phenomena in the world around us. From a young age, I have been drawn ...
Sofiah Sidqi is currently studying BSc Financial Mathematics and Statistics at the London School of Economics and Political Science. She completed her A-Levels in Oxford International College and will be graduating in 2022. This personal statement was part of her successful application to LSE, UCL and King's College London for Financial Maths ...
I am targeting Oxford (msc mathematical and computational finance) , Imperial (msc mathematical finance) , UCL, Kings and possibly Warwick for their MFE course for a September 2021 start. I will be sending apps off this September. As MSc course applications are judged almost entirely on the personal statement.
FALL March 30. SPRING October 15. Please visit the Graduate Admission page to apply online. A complete application package must contain: Completed online application form. Application fee. Official copies of academic transcripts (for international students, transcripts in both original language and English translation) Three official letters of ...
The time value of money is an important concept to understand for personal finance. It can help you decide how much to budget, evaluate a job offer, figure out if a loan is a good deal and help ...
Mathematics (MSci) Personal Statement. Submitted by Milo. In my mathematical career to date, I have always pushed myself and thrive on new challenges. As such, I took the FSMQ additional maths in year 11 and am teaching myself AS further additional and the AEA in my year out. Working independently, I find I am always eager to learn more.
Personal Finance; The New Math of Driving Your Car Till the Wheels Fall Off Drivers rethink the optimum number of years to hold on to a car as the costs of ownership increase
Personal saving was $755.7 billion in the first quarter, compared with $815.5 billion in the fourth quarter. The personal saving rate—personal saving as a percentage of disposable personal income—was 3.6 percent in the first quarter, compared with 4.0 percent in the fourth quarter. Source Data for the Advance Estimate
Differentiation and integration Is my favourite part of Pure Mathematics. A level Chemistry is helping me strengthen my knowledge in mathematics because there are a lot of calculations you have to do for example: chemical equations, calculating molarity and speed of atoms. Studying Chemistry demands that I grip onto concepts and the application ...
Personal Health comparable sales increased 3%, driven by growth in Personal Care and Mother & Child Care. Adjusted EBITA margin improved to 15.2%. Productivity . ... contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips ...