Psychological Impact of Newly Diagnosed Lung Cancer

Psychological Impact of Newly Diagnosed Lung Cancer CHAPTER ONE Introduction The concern addressed in this dissertation is to explore the psychological impact on a newly diagnosed lung cancer patient. Patients with lung cancer normally experience variety of distress symptoms, many of which begin prior to diagnosis and continue throughout the course of the disease and the treatment, which adversely affects the functional status and quality of life (Julkunen et al, 2009). The experience of lung cancer is not limited to only the victims but may equally have wide-range impact on families physical and emotional well-being. Therefore it is essential to critically assess the extent of this psychological impact of lung cancer on the patient. This topic is properly examined in context of a critical literature review approach. The approach has adopted the traditional method which is considered appropriate for the purpose of this piece of work. This method involves a critique, summary and synthesis of a body of literature after which a conclusions is drawn, (Coughlan,et al. 2008). According to Crombie (1996), the purpose of writing a literature review is to convey to readers the knowledge and ideas which have been established on the chosen topic, and explore the strength and weaknesses. This helps to identify gaps and inconsistencies in the literature. Gomm et al, (2000) stated that the purpose of a review is to analyse critically a published body of knowledge through summary, classification, and comparison of prior research studies, reviews of literature, and theoretical articles. A further consideration for the literature review will not merely be a descriptive list of materials obtained, or a summary of relevant resource s, but rather to provide the framework of the research investigation and summarise the literature studied in order to develop the research study (Brink and Wood, 2001). A brief description of the anatomy and physiology of the lungs will be discussed to enhance proper understanding of the topic. Pathophysiology, aetiology and epidemiology of lung cancer will be outlined. The methodology will be described including a brief description of the models and strategies adopted in conducting the review. The review of 10 peer review papers are presented in chapters using critical appraisal tools to evaluate the strengths and limitations of the research papers. Both qualitative and quantitative primary research papers will also be used. Limitations of the literature and the process of the review will be identified. The dissertation will be structure in the following way: Chapter 2 will explore the background information about lung cancer by examining the pathophysiology, aetiology, and epidemiology, pathogenesis, treatment and evaluation of the disease. It also considers the rationale behind the chosen topic. Chapter 3, Research Methodology, outlining the various strategies employed to gather and analyse the sources of data. Chapter 4, Psychological distress: anxiety, depression, desire for hastened death, feeling of guilt and hopelessness. Chapter 5, Discusses the impact psychological distress has on quality of life of newly diagnosed lung cancer patients. Chapter 6, Summary of findings of the literature reviewed. Chapter 7, Limitations of the literature reviewed. Chapter 8, Limitations of the whole literature reviewing process. Chapter 9, Conclusion and Recommendations, distils the key points and relates them to proper management of lung cancer. It also proposes a number of recommendations to tackle the problems identified above. CHPTER 2 Lung cancer 2.1 Introduction The study is to identify the psychological impact of newly diagnosed lung cancer on the patient. Lung Cancer is a disease that begins in the tissue of the lungs. To better understand lung cancer, it is vital to understand the anatomy and physiology of the lungs. 2.2 Anatomy and physiology of the lungs The lungs are two cone-shaped structures positioned on either side of the heart. In the mediastinum. They are sponge-like organs that are part of the respiratory system. During breathing, air enters the mouth or nasal cavity and travels down the trachea. The trachea, divides into two smaller tubes: the right bronchus and the left bronchus. The right bronchus enters the right lung and the left bronchus enters the left lung. The right and left bronchus branch into bronchioles. These bronchioles end in tiny balloon-like air sacs called alveoli. The alveoli are where oxygen, carbon dioxide, and other substances are exchanged between the lungs and the blood stream. (Gould, 2006). Pathophysiology, aetiology and epidemiology of lung cancer Lung cancer is a term, which covers a collection of several different forms of malignant tumour arising in the lungs and in the major airways (The Royal College of Physicians, 2005). There are two major types of lung cancer, non-small cell and small cell. Non-small cell lung cancer (NSCLC) arises from epithelial cells which is the most common type of lung cancer. Small cell lung cancer begins in the nerve cells or hormone-producing cells of the lung. The term small cell refers to the size and shape of the cancer cells when seen under a microscope. According to (McCance and Heuther 2005) the non-small cell lung cancer (NSCLC) accounts for about 80% of all lung cancers. There are different types of NSCLC, these are: Squamous cell carcinoma (also called epidermoid carcinoma). This is the most common type of NSCLC. It forms in the lining of the bronchial tubes and is the most common type of lung cancer in men. Adenocarcinoma. This is found in the glands of the lungs that produce mucus. This is the most common type of lung cancer in women and also among people who have not smoked. Bronchioalveolar carcinoma. This is a rare subset of adenocarcinoma. It forms near the lungs air sacs. Recent clinical research by Scullion and Henry (1998) has shown that this type of cancer responds more effectively to the newer targeted therapies Large-cell undifferentiated carcinoma. This cancer forms near the surface, or outer edges, of the lungs. It can grow rapidly. The small cell lung cancer (SCLC) as (MacCance and Huether, 2005) puts it, accounts for about 20% of all lung cancers. Although the cells are small, they multiply quickly and form large tumors that can spread throughout the body. Smoking is almost always the cause of SCLC. Lung cancer begins when cells in the lungs grow out of control and form a tumor. A tumor can be benign (noncancerous) or malignant (cancerous). A cancerous tumor is a collection of a large number of cancer cells that have the ability to spread to other parts of the body. A lung tumor can begin anywhere in the lungs (Muers et al, 2001). According to Hughes and Pride (1999), once a cancerous lung tumor begins to grow, it may or may not shed cancer cells. These cells can be carried away in blood or float away in the natural fluid called lymph, which surrounds lung tissue. Lymph flows through the lymphatic vessels that drain into lymph nodes. Cancer cells metastasise when it leaves its site of origin and moves into a lymph node or to a far away part of the body through the bloodstream. The location and size of the initial lung tumor, and whether it has spread to lymph nodes or more distant sites, determines the stage of lung cancer. The type of lung cancer and stage of the disease determine what type of treatment is needed. The staging system describes the extent of the disease at the time and therefore provides a basis for treatment and prognosis. The staging systems as described by McCances and Huether, (2006) are based on the following: The size of the primary tumour (T); The extent of regional lymph nodes (N); and The spread of the tumor (M). Lung cancer is the most common form of cancer in the UK, resulting in 36,000 deaths each year (DOH, 2007). Lung cancer is the leading cause of cancer motality in the UK: In every 15 minutes, a new diagnosis is made with approximately 40,000 fresh cases every year (NICE, 2009). It remains the most frequent of all malignant diseases and the one with the poorest prognosis. 80 percent of effected people die within a year (DOH, 2007). Lung cancer continues to rise and is now very high in women as well as men (Hamer et al, 2008). Many epidemiological studies have assessed the extent and nature of problem in the UK, (Blackler et al, 2007) report that lung cancer occurs in people who smoke. This is supported by further research from the United States of America, including other comprehensive study conducted by Scullion and Henry (1998) that the risk of lung cancer is higher in persons who begin smoking early, continue for many years, and are considered heavy smokers. However (Gould, 2006) posited that people who dont smoke can also develop lung cancer, although this is much rarer. This confirms (McCance and Huethers, 2005) statement that people who have been in prolonged or close contact with asbestos have a higher risk of lung cancer, especially if they smoke. Lung cancer is rarely diagnosed in people younger than 40 most cases occur in people over the age of 60. 2.3 Pathogenesis, Treatment and Evaluation The treatment of lung cancer is based on the size and location of the tumor, whether the cancer has spread, and also the persons overall health. There are four basic ways to treat lung cancer: surgery, radiation therapy, chemotherapy, and targeted therapy (NICE, 2005). Treatment options differ for each individual and may depend on other factors such as age, physical condition, and other medical problems. The goal of Surgery is to remove the part of the lung where the tumor is isolated. Chemotherapy is to kill rapidly dividing cells in the body, including cancer cells using drugs. It is the main treatment for people with small cell lung cancer. In many people, chemotherapy will enable them to live for longer, with better control of symptoms. (NICE 2009) Chemotherapy may be given on its own, or before radiotherapy. Sometimes chemotherapy and radiotherapy are given at the same time; this is known as chemoradiation. Targeted therapy is a treatments designed to target cancer cells in more specific ways, usually involving the mechanisms that cause cancer cells to grow or divide (DOH, 2007). The diagnosis of lung cancer becomes a crisis in victims life when experienced, confronting them with changes in identity, role, and social interactions and presenting them with an uncertain future (Waller and caroline, 1996). Kemp (1999) posited, the psychosocial distress can interfere with the patients healthcare and diminish his or her health and functioning. Many patients who face cancer diagnosis that require physical effects of treatment appear to experience emotional difficulties, including anxiety and depression. Equally, patients with untreated depression or anxiety may be less likely to take their cancer medication and maintain their health. Moreover they may withdraw from family or other social support services which may affect the treatment outcome. 2.4 Rationale The rationale for the choice of topic was based on a desire to understand the psychological impact of lung cancer on the patient. Often the physical effects of the cancer disease and treatment are focused more on the curative effort. Therefore, it is important for the health-care team to address psychological effects, that cancer patients normally encounter that can greatly affect their sense of well-being. Nursing is expected to deliver high quality care that is effective in promoting health and well being (LoBiondo-Wood and Haber, 2006). Evidence-based practice is a key strategy in the development of modern health services and crucial to the development of nursing practice (Parahoo, 1997). Evidence-based care as Brink and Wood (2001) suggest and supported by (Carnwell 1997), is the conscientious use of current best evidence in making decisions about the care of individual patients or the delivery of health services. The successful completion of the review will investigate primary r esearch. In doing so this may act as an additional information source for healthcare professionals and as a basis for further enquiry. Chapter 3 METHODOLOGY 3.1 Aims and research questions Against the background of the foregoing explanation, it is desirable to identify the psychological distress associated with lung cancer and how it affects the patient. The questions the review seeks to address/answer are 1. What are the psychological reactions of newly diagnosed lung cancer patients? 2. How do these psychological reactions affect physical and psychological wellbeing of theses patients? 3. What interventions can be used to address these psychological reactions of newly diagnosed lung cancer and manage them effectively? 3.2 Parameters for the literature search The chosen method is a systematic literature review of both qualitative and quantitative research in the study area. A systematic literature review as defined by (Parahoo, 1997) is a summary of research that uses explicit approach to perform a thorough literature search and critical appraisal of existing body of published knowledge to identify the valid and applicable evidence. It is a means of managing very large volumes of information to identify evidence on which recommendations can be made (Holloway and Wheeler, 2002). Studies were used if they included adults (age 45 +) who have been newly diagnosed of lung cancer. 3.3 Inclusion Criteria This review included literature published from the year 1999 onwards All papers published in English Language only. Primary research directly related to the topic and Published research articles only. 3.4 Exclusion criteria Primary research not directly related to the topic Unpublished research articles Articles published before the year 1999 Other people were involved also, people from the specialist cancer services and the librarians whose help was invaluable in developing a search strategy and in sourcing and retrieving papers. 3.5 Literature searching strategies The search was completed using electronic databases. These were the Cochrane Library, CINAHL, British Nursing Index, Northampton Full Text [emailprotected], Proquest, Medline, and PsycInfo. The Cochrane Library was searched initially to see if a similar study had been done. The other data based were then searched from 1999-2009. Medline is a nursing and medical database. It is known to be incomplete (Markinson, 2002) however (Tagney and Haines, 2009) demonstrated that a search on MEDLINE is likely to produce most of the appropriate papers because it publishes articles from a worldwide source. The hospital library service was used to find studies which were not available in full text form on the internet or locally held journals. Not all could be located; however this potentially could be a source of bias. In discussing the problems and importance of incomplete retrieval of papers, (Chalmers and Altman, 1995) argue that trials that are difficult to locate tend to be smaller and lower methodological quality than trials that are easily accessible. The key words used to search the database were LUNG CANCER, DIAGNOSIS, DEPRESSION, CANCERS, PSYCHOLOGY, PSYCHOLOGICAL INTERVENTION, MEN, ANXIETY, ANGER, SADNESS, FEELING OF GUILT OR REGRET and PATIENTS FEELINGS. The nature of the study necessitated the use of very general terms such as lung cancer, and psychology. Sensitivity was chosen rather than specificity in the selection process and this meant that the search initially uncovered a large number of papers unrelated to the study. The result of the search was initially screened by reading the abstract online and retrieving the relevant ones using the inclusion and exclusion criteria. The studies which were retrieved were screened again to make sure they fulfil all the criteria required to be used for the review. To avoid bias, this study used methods outlined by Aveyard (2008). The methods were simplified for people who are new to or have little experience in doing a literature review. As suggested by (Cutcliffe and Ward, 2003) met hods used in systematic reviews reduce the potential bias of the review. 3.6 Method of Evaluation The literature is evaluated using Greenhalg T (1997) structure for evaluating qualitative research. (See appendix 2) This model was selected because most of the research was qualitative due to the nature of the selected topic. Anxiety and depression are difficult to measure because its an emotional response and therefore immeasurable. 3,7 Method of Analysis The research is analysed using a summing up approach as described by (Aveyard, 2008) which is adopted from the approaches given by Paterson et al (2001). This model was chosen because it facilitates the extraction of themes from research literature of a diverse nature. Again is suitable for people who are new to the literature review process. The themes generated are: Psychological distress: Anxiety, depression, feeling of hopelessness and the desire for hastened death. Effect of psychological distress on quality of life of people with newly diagnosed lung cancer. 3.8 Data handling method The data was stored and subsequently analysed using data storage system described by (Cormack, 2000) this system has two commonly methods of storing data: storage in original form, and storage using computer. The printed research papers were stored in a ring binder file and a memory stick was used to store computerised data. The purpose of data storage as LoBiondo-Wood and Haber (2006) puts it has three basic related purposes: to make sure that no data are lost; to ensure that information are obtained in a way which makes it reasonably accessible; and to ensure that the researcher is able to analyse the data. A separate note book was used to store references. 3.9 Resources required and sources identified Resources required are computers, various libraries, search engines, text books, stationary, supervisor, and librarian. Sources identified are internet and printed journals. CHAPTER FOUR THEME 1 Psychological distress: Anxiety, depression, desire for hastened death, feeling of guilt and hopelessness. Following exploration of the available and chosen research for this literature review, various themes have been identified. This chapter aims to discuss and explore the reviewed literature regarding the psychological distress of newly diagnosed lung cancer patients. It will discuss anxiety, depression, feeling of guilt and hopelessness which influence the disease-related factors on the desire for hastened death which have emerged from the data. Five studies (Akechi et al (2006), Turner et al, (2006), Wilson et al, (2007), (Rodin, et al 2009) and Mystakidou et al, (2008) will be examined using the methodology, discussions and analysis of the research to evaluate their findings. (See appendix 3 for research articles) In order for this to be achieved, the chapter has been divided into three sub-themes these are: Psychological distress. Anxiety and depression. Feeling of guilt/hopelessness and the desire for hastened death. There will be a small summary to conclude the chapter. 4.1 Psychological distress A cancer diagnosis can be viewed as a very stressful event for patients as they must adapt to the shock and uncertainty that such a diagnosis presents Fox et al (2006). As a result of life-threatening nature of cancer, psychological distress in cancer patients has been widely studied. Previous studies have indicated that 10-40% of cancer patients suffer from psychological distress (Skarstein, 1999). Vos et al, (2008) reported that 19% of lung cancer patients experienced depression between the time of diagnosis and initial treatment and 35% of them continued to experience the same disorder 6 months after. It is therefore vital to investigate the exact predictive factors of the psychological factors experienced by newly diagnosed lung cancer patients. The first research paper identified was conducted by Akechi et al (2006). The purpose of the study was to investigate longitudinal changes and predictive factors for psychological distress among newly diagnosed lung cancer patients. The study was conducted among 85 newly diagnosed advanced non-small cell lung cancer patients. Data were obtained in structured interview and validated self-report questionnaires. Psychological distress was evaluated using the Profile of Mood State (POMS) scale. This scale was developed by McNair et al., 1977. The POMS scale according to Akechi et al (2006) is a self-rating scale measuring six emotional sates (tension-anxiety, depression-dejection, anger-hostility, vigor, fatigue, and confusion) and total mood disturbance. It was hypothesized that a lower fighting spirit and a higher helplessness/hopelessness were significant predictors of total mood disturbances. Therefore initial psychological response after lung cancer diagnosis was the most relevant p redictor of subsequent psychological distress. Their findings indicate that initial mood disturbance after the disclosure of a diagnosis of cancer (shock and uncertainty) is the most relevant predictor for subsequent psychological distress and that early intervention beginning immediately after a diagnosis is one way of preventing and/or reducing subsequent psychological distress in lung cancer patients. Initial psychological response after cancer diagnosis seems to continue the subsequent illness trajectory for at least several months, although several dimensions of psychological response, including anxiety and depression, may decrease. In their words, the overall psychological distress does not decrease naturally in the usual clinical care setting. Their study has several methodological advantages as compared with other studies because the method used for collection and analysis of the data were clearly described in the study which confirms that the qualitative method used was appropriate for the study (Greenhalg, 2001). However it has several limitations and cautions must be used when interpreting its findings. First, it was stated in the methodology that the researchers were not able to obtain longitudinal data on approximately 40% of the potentially eligible subject at the time of the investigation (Akechi et al, 2006). This introduces the possibility of a selection bias (Crombie 1996). The absence of this longitudinal data mentioned demonstrate that individual level change over time could not be studied on 40% of the sample therefore the researchers could not obtain the longitudinal course of psychological distress of those people(Akechi et al, 2006). This indicate that the findings may be distorted by the bias, even though it seems to be very common and one of the most difficult issues that cannot be completely overcome in the studies focusing on advanced cancer patients. Secondly, of all, this study included up to 6 months follow-up after cancer diagnosis, the longitudinal course of patients psychological status thereafter is unclear. Six months after diagnosis may not be enough long time to evaluate the longitudinal course of distress experienced by advanced lung cancer patients. For example, a recent study, examining the course of psychological distress in metastatic breast cancer patients demonstrated that distress remained constant or declined during the illness trajectory; however distress significantly increased proximal to death (Hill et al, 2002). Considering the prognosis of advanced non-small cell lung cancer patients, it seems plausible that many dimensions of psychological distress, including anxiety and depression, may increase as death approaches. The convenience sampling method used also poses threat to the generalisation of the findings, because the study subjects consisted entirely of newly diagnosed advanced non-small cell lung cancer (NSCL) patients who visited one Thoracic Oncology Division in Japan. Since patients with other lung cancer types at other sites were not examined in the study, it remains unclear whether the results can be extrapolated to patients with other lung cancer types at other sites. Lastly, psychological distress after cancer diagnosis was the only significant predictive factor of subsequent psychological distress after cancer diagnosis. To the best of our knowledge, very few studies have addressed the predictive factors for psychological distress in lung cancer patients while several studies have investigated predictors for subsequent psychological distress in other types of cancers (REF). Edward and Clarke (2004) demonstrated that family functioning and patients illness characteristics were associated with anxiety and depression in newly diagnosed lung cancer patients. Consequently, because the follow-up period in this study was short and the sampling method used caution must be taken when interpreting the findings. 4.2 Anxiety and Depression Depression refers to an emotional disturbance marked by the cardinal symptoms of persistent and pervasive low mood and the loss of interest or pleasure in normal activities (Skarstein et al, 2000). McPherson (2004) defined anxiety as a feeling of apprehension and fear characterized by physical symptoms such as palpitations sweating, and feelings of stress. Depression and anxiety disorders are thought to be common in palliative cancer care ( Strutkowski et al, 2008). The first study identified was conducted by Turner et al, (2006). It was a prospective observational cohort study of patients undergoing palliative radiotherapy for lung cancer. The aim was to measure psychological distress and concerns before and after treatment using the Hospital Anxiety and Depression (HADS) and a concern checklist. Participants were selected randomly from radiotherapy clinics in various hospitals. Data were obtained from a group of 83 elderly patients (aged 75 and above) being treated with palliative radiotherapy for lung cancer, with a comparison group of 49 younger patients (aged 65 and under). They completed the HADS (Hospital Anxiety and Depression Scale) and a concerns checklist before and after treatment. The HADS according to Skarstein, (1999) is an instrument which rates anxiety and depression in patients with physical illness. It has two sub-scales, one assessing anxiety, and another evaluating depression. Anxiety and depression subscales of the HADS were scored using a score of 0-7 = normal, 8-10 = borderline, and 11-21 = probable case (i.e. likely to have the diagnosis of anxiety or depression confirmed after formal psychiatric assessment). The concerns checklist data were examined to provide median numbers of concerns identified by each patient group before and after treatment and, the changes over time were compared statistically. They hypothesized that majority of newly diagnosed lung cancer patients experience severe level of depression and anxiety. The result of the study shows that the 60% of young group and 40% of elderly group had anxiety. And 30% of young group and 60% of the elderly group had depression. The young group consistently ranked the illness, the future relating to the illness, family and their energy level as their major concern and the elderly group also ranked family and breathlessness as their major concern. This findings suggested that people of all ages have similar concerns and level of anxiety and depression whiles receiving palliative radiotherapy for lung cancer. A year after a similar study was conducted by Wilson et al, (2007). It examined depression and anxiety disorders in 381 patients who were receiving palliative cancer care. The study group consisted of 212 women and 169 men (age 26-93). Data was obtained through the development of a structured interview of symptoms and concerns. Depression and anxiety disorders were assessed with a modified version of the Primary Care Evaluation of Mental Disorders (PRIME-MD) clinician evaluation guide. The PRIME-ED according to Fox, (2006) provides a quick screening method for a wide range of mental health disorders. The findings of the study suggested that physical symptoms (such as pain and breathlessness) as well as issues about the illness itself and its treatment were more likely to have been addressed. Anxiety and depression were the frequent individual diagnosis. But there was no association between these disorders and the time to death. However it makes it more difficult to treat their physic al symptoms. The findings from these two studies suggest that depression and anxiety disorders are common in newly diagnosed lung cancer patients. However Turner et al (2006) suggested that people of all ages have similar concerns and levels of anxiety and depression while receiving palliative radiotherapy for lung cancer. Turner et als (2006) findings supported Wilson et al, (2007) because it also established that issues about the illness itself and its treatment outcome were the major concerns of the participants which influence anxiety and depression. However the two studies are limited to the method used. Turner et al (2006) clearly identified the data collection method used in the methodology. Patients completed the Hospital Anxiety and Depression Scale and the Concerns Check List. The questionnaire was completed by patients during their first visit for radiotherapy using touch-screen technology to record their responses. This method has been validated against paper questionnaire (Holloway and Wheeler, 2002). Some patients also used the paper version of the questionnaire. Data obtained from these two methods were compared in the analysis. Follow up was made during the next visit of patients to their outpatient appointment. Lung cancer specialist nurses were used for the collection of follow-up data. Where this was not possible, questionnaire, along side paid envelopes were sent directly to the participants. Those who returned completed questionnaires were sent a letter of thanks. On the other hand, Wilson et al, (2007) used a di agnostic interview which was a modification of a protocol that has been developed for the rapid screening of mental disorders in primary rather than palliative care. Although it has been used in previous studies in oncology settings, admittedly there is not enough strong body of validating research to support it use (Skarskein, 2000). Moreover Turner et als (2006) study was conducted in the United Kingdom while Wilson et al, (2007) was conducted in Canada. This could affect the interpretation of the findings because of the existing cultural differences and healthcare systems among these two countries. Conversely, in both papers the researchers achieved excellent sample sizes and responses (LoBiondo-Wood, 2006). Greenhalg (2001) stated that when examining studies it is important to distinguish whether the sampling strategy is appropriate for the design of the study and level of evidence provided by the design. Turner et al, (2006) selected a sample size of 191 patients undergoing palliative radiotherapy in radiotherapy centres in various hospitals. From this, 132 were recruited into the study, 83 elderly and 49 younger patients. Wilson et al, (2007) selected an eligible sample of 381 lung cancer patients receiving palliative care in eight sites across Canada. In both studies the researchers achieved excellent sample size and response rate. The sample sizes were large enough to give an accurate picture of what is going on (Greenhalg, 2001). Crombie (2008) stated that studies which use too small sample size often fail to detect clinically important effects. Moreover both studies used random sampling to recruit participants for the studie

Gender Issues In Lysistrata Essay -- essays research papers

Human beings are amazing creatures. Our history has shown spectacular and shameful events from day one. Throughout the course of history we have seen both war and peace. More war than peace, but the point still remains. That we, as a human race, have accomplished many wonderful intellectual break-throughs but we have also done very stupid deeds. Its amazing how a creature of such great intelligence could separate, segregate, discriminate, dehumanize, and enslave members of its own human race.   Ã‚  Ã‚  Ã‚  Ã‚   The world as we speak is existing because of gender issues. Going back to days of Adam and Eve. When God asked Adam not to eat from the apple tree, it was Eve, with her feminine lure, who was able to convince Adam to disobey Gods rules and eat the apple. Yet when God came to punish Adam for disobeying the rules, Adam pointed to Eve and blamed her for luring him into the sin of eating the apple. Yet in reality it was the serpent, which was the devil, that lured them into eating the apple. But of course Adam, being male had to blame Eve, the female. Which is typical male behavior to blame the woman, my sister says. In general men don’t take responsibility for their actions. Michealangelo has portrayed all this on the Sistienth Chapel. He has painted a picture that is portraying God punishing Adam for eating the apple. In this painting Adam loses his masculine image by pointing to Eve and blaming her for the problems that were caused by eating the apple.   Ã‚  Ã‚  Ã‚  Ã‚  Men threw out history have always been perceived as strong, powerful, heroic beings. Men are depicted as fighters, providers, and of course first class citizens. While woman on the other hand have always been perceived as weak, fainty, delicate homemakers, and unintelligent. Their main purpose in life is to cater for the men, and take care of the house and kids. And of course they were perceived as second class citizens.   Ã‚  Ã‚  Ã‚  Ã‚  The focus of this paper is to analyze the gender issues and differences that existed in all three plays. I would like to relate and compare these issues to our past as humans and to our modern day present.   Ã‚  Ã‚  Ã‚  Ã‚  We see a wide array of controversial gender issues arise in Lysistrata. This play starts off by showing the main character as a strong independent woman. The beginning of the play focuses on Lysistrata resentment and anger toward the woman of the town. She sees her ow... ...uff and leave the town, with out ridicule and hardship. They seemed to be â€Å"stuck';, in the sense that is very hard to leave a small town.   Ã‚  Ã‚  Ã‚  Ã‚  The role of the women was to get married, stay home and take care of the kids, while the man provides and puts food on the table. This view is still somewhat shared with our society today.   Ã‚  Ã‚  Ã‚  Ã‚  In conclusion it would be safe to say that all three plays relate gender issues to their time set. We can see many similarities within all three of these plays, and we can also see similarities that arise with our culture today. Even though today women are not treated as bad as they were. It is sad to say that even in the year 2000 women don’t have equal rights and don’t get equal treatment. Women still make .70 cents to the dollar as men. Their role is still to be the homemaker. And they hold such a small percentage of any policy making position. To think of all the lost talent and all the advances that could have been made to help our society is truly a sad and inhuman thought, that can get any one angry with our history. If one was to really think about it, the human race has not made much progress with the treatment of women.

History Of The Internet Essay -- essays research papers

The year is 1957 and the USSR has just launched the first artificial earth satellite. In response America launches the Advanced Research Projects Agency (ARPA) within the Department of Defense (DOD) to create America’s lead in science and technology. The Internet had its humble beginnings here, within ARPA’s many projects.   Ã‚  Ã‚  Ã‚  Ã‚  The Internet has become one of the key symbols of today’s pop culture: everything has a â€Å"dot com† address; people do not say â€Å"call me,† but instead its â€Å"I’ll E-mail you;† and the new word on the stock market is â€Å"E-business.† The Internet has not always been such a key figure in American life; in fact it was mostly unheard of until recently.   Ã‚  Ã‚  Ã‚  Ã‚  The theory for the Internet first started being published in 1961 with Leonard Kleinrock’s document on packet-switching theory, â€Å"Information Flow in Large Communication Net.† This document presented the theory behind the first problem of the Internet, and how to solve it1. The problem was this: when a large document is sent then pieces of it become lost in transfer and the entire document has to be resent, but then different pieces are missing from the new copy of the document. This is a major problem and the obvious solution is to â€Å"chop† the information up into smaller pieces and then transmit the smaller pieces2. Then another problem was realized, how does the computer know where to put these small bits of information? The solution to that was what has come to be known as packet-switching (PS). In PS, the entire document is sent in a bunch of tiny â€Å"packets,† these packets contain the information of the document â€Å"wrapped† in its placement on the page. The receiving computer then sends a message back to the transmitting computer telling it which packets were corrupted or missing and the transmitting computer then re-sends the lost information3.   Ã‚  Ã‚  Ã‚  Ã‚  The next problem that the Internet faced was first discovered at the ARPA’s networking project, ARPAnet. Since it was militarily connected, the leaders of ARPAnet wanted a way that information could be moved between two computers without requiring a direct connection in case the direct link between two computers failed (was destroyed). The way that the ARPAnet project dealt with this was by having the network bounce the information around without it taking a direct path... ... but enough to crash the Internet and land Mr. Morris (Jr.) a hefty fine and prison time. Earlier in that year, Internet Relay Chat was developed; something that has become one of the key factors in Internet usage today8.   Ã‚  Ã‚  Ã‚  Ã‚  In the ten years since the Morris Worm the Internet has gone mainstream. After the ARPAnet ceased, the Internet had an explosion in usage and has become the giant that Americans know today. It has transformed from its humble beginnings, when it crashed on the first attempted remote LOGIN, into an economy driving, pop culture staple. Few people have heard of men such as Leonard Kleinrock, but none can say he has not contributed to America today. So, when you think about the Cold War, think about Sputnik and the Internet it created. Bibiography Hafner, Katie; Lyon, Matthew. Where Wizards Stay up Late: The Origins of the   Ã‚  Ã‚  Ã‚  Ã‚  Internet. Touchstone Books; 1998. Kristula, David. â€Å"The History of the Internet.† Network Solutions, Inc. â€Å"What is the History of the Internet?.† Segaller, Stephen. Nerds 2.0.1: A Brief History of the Internet. TV Books Inc.; 1999 Sterling, Bruce. â€Å"A Brief History of the Internet.†

The Role of the Inspector in An Inspector Calls Essay examples -- An I

The Role of the Inspector in 'An Inspector Calls' An Inspector Calls is a play with many social and political messages. J. B. Priestley believed a great deal in socialism and he used several of his plays to try and influence people to be Socialist as well. It was written in a time when Britain was ruled by a Labour government and socialist policies were seen as the way forward. It was a popular way of thinking at that time so Priestley's aim for the play was probably to teach the unconvinced. The Inspector in J. B. Priestley's 'An Inspector Calls' is one of the most thought-provoking and mysterious characters that modern day literature has yet produced. It is this mysterious element that contributes greatly to making him a very interesting character and one that may be perceived in many ways. The audience does not find a great deal out about the Inspector and nothing is explicitly told to us; we are given hints and clues from the way he acts and what he says and are forced to piece these together to form our own ideas about his identity and his intentions. In this way, Priestley has asked his audience to act as a judge and to reach personal conclusions about him. The role of the Inspector is one of many levels. In terms of how he is used in the basic structure of the play, he is there to move the play along in that he encourages the characters to tell their stories. If there was not the revelation that he was not a real Police Inspector, he would only be considered as a narrator and not play a big part in the play. Because it transpired that he was an impostor of sorts, further questions are asked by the audience and different insights have become likely and it is clear that the Inspector is in the play for many reasons. T... ...e unpunished. One must conclude that the Inspector's main purpose is to teach. In the context of the play, he told the characters what had happened to a particular girl because they had each been guilty of selfishness. In regards to the whole of society, he voiced Priestley's opinions that we cannot make any progress if we do not work together. In my opinion, those watching or reading the play today would not gain as much from the story in regards to the moral teachings because most have now accepted the advantages of Socialism over Capitalism and so do not have as much to learn on the arguments of this issue as the audiences of 1947. In regards to the question of what the Inspector actually was, I personally feel that there is not enough evidence given for even a strong, fact-supported theory to be produced to answer the question, let alone an infallible answer.

Case Analysis of IKEA Invades America

IKEA is a private home products retailer, which deals internationally in flat pack furniture, accessories, and bathroom and kitchen items. IKEA is the company which is being regarded as the pioneer in flat-pack designed furniture; this firm is now the largest furniture manufacturer of the world, with 120,000 employees around the globe.The revenues of IKEA have been growing at a rapid pace in the past few years, in the fiscal year of 2008-2009 these amounts soared up to $28.8 billion USD; this indicates a growth of 7 percent in comparison of the last year. The reason behind this rapid growth of IKEA is that it has been focusing on providing the market with affordable home furnishing products (Grant, 2005,p.120) that it is why it has been a major success all across the world especially in Europe where middle class earners have become citizens of the IKEA world.Delivering value priced home furnishing products has been the intention of IKEA since its formation way back in 1943. IKEA has been on the verge of a major success in the American market as its stakes are rising in the US since every passing day; no doubt that the managers at IKEA have devised some ingenious strategies which have earned this multinational giant a strong position in the North-American market as well.The American market is majorly divided into two prime segments and the basis of this division is price. The low and the middle class customers tend to buy from different local outlets or marts (like Wal-Mart, Target etc) due to the expensive nature of the products offered by the stylish and the renowned brands. Whilst the upper class opts for the luxurious and classy outlets where the goods are overpriced, these sellers regard their products as â€Å"onetime buy†.If we analyze IKEA’s strategy on the other hand; it caters to the low and the middle classes primarily by providing them the right value of   their money, not only this the missing feature of style is also added by IKEA, and hence the Americans are getting influenced by the IKEA magic. The share of the premium priced sellers is not much in the American market (merely 14-15 percent), so the strategy of IKEA is gaining it the market share and thus it is being translated in the revenue account.

Indian Constitution

The Constitution of India has some distinct and unique features as compared to other constitutions to the world. As Dr. B. R. Ambedkar, the Chairman of the Drafting Committee puts it, the framers had tried to accumulate and accommodate the best features of other constitutions, keeping in view the peculiar problems and needs of our country. The following are the salient features of the Constitution of India. 1. Longest written constitution Indian Constitution can be called the largest written constitution in the world because of its contents.In its original form, it consisted of 395 Articles and 8 Schedules to which additions have been made through subsequent amendments. At present it contains 395 Articles and 12 Schedules, and more than 80 amendments. There are various factors responsible for the long size of the constitution. One major factors was that the framers of the constitution borrowed provisions form several sources and several other constitutions of the world. They have fol lowed and reproduced the Government of India Act 1935 in providing matters of administrative detail.Secondly, it was necessary to make provisions for peculiar problems of India like scheduled castes, Scheduled Tribes and backward regions. Thirdly, provisions were made for elaborate centre-state relations in all aspects of their administrative and other activities. Fourthly, the size of the constitution became bulky, as provisions regarding the state administration were also included. Further, a detail list of individual rights, directive principles of state policy and the details of administration procedure were laid down to make the Constitution clear and unambiguous for the ordinary citizen.Thus, the Constitution of India became an exhaustive and lengthy one. (2) Partly Rigid and Partly Flexible The Constitution of India is neither purely rigid nor purely flexible. There is a harmonious blend of rigidity and flexibility. Some parts of the Constitution can be amended by the ordinar y law-making process by Parliament. Certain provisions can be amended, only when a Bill for that purpose is passed in each house of Parliament by a majority of the total membership of that house and. by a majority of not less than two-third of the members of that house present and voting.Then there are certain other provisions which can be amended by the second method described above and are ratified by the legislatures of not less than one-half of the states before being presented to the President for his assent. It must also be noted that the power to initiate bills for amendment lies in Parliament alone, and not in the state legislatures. Pundit Nehru expressed in the Constituent Assembly, â€Å"While we want the Constitution to be as solid and permanent as we can make it, there is no permanence in Constitution. There should be certain flexibility.If you make anything rigid and permanent, you stop the nation’s growth, the growth of a living, vital organic people. † 3) A Democratic Republic India is a democratic republic. It means that sovereignty rests with the people of India. They govern themselves through their representatives elected on the basis of universal adult franchise. The President of India, the highest official of the state is elected for a fixed term. Although, India is a sovereign republic, yet it continues to be a member of the Commonwealth of Nations with the British Monarch as its head.Her membership of the Commonwealth does not compromise her position as a sovereign republic. The commonwealth is an association of free and independent nations. The British Monarch is only a symbolic head of that association. 4) Parliamentary System of Government India has adopted the Parliamentary system as found in Britain. In this system, the executive is responsible to the legislature, and remains in power only as long and it enjoys the confidence of the legislature. The president of India, who remains in office for five years is the nomina l, itular or constitutional head. The Union Council of Ministers with the Prime Minister as its head is drawn from the legislature. It is collectively responsible to the House of People (Lok Sabha), and has to resign as soon as it loses the confidence of that house. The President, the nominal executive shall exercise his powers according to the advice of the Union Council of Ministers, the real executive. In the states also, the government is Parliamentary in nature. 5) A Federation Article 1 of the Constitution of India says: – â€Å"India, that is Bharat shall be a Union of States. Though the word ‘Federation' is not used, the government is federal. A state is federal when (a) there are two sets of governments and there is distribution of powers between the two, (b) there is a written constitution, which is the supreme law of the land and (c) there is an independent judiciary to interpret the constitution and settle disputes between the centre and the states. All the se features are present in India. There are two sets of government, one at the centre, the other at state level and the distribution of powers between them is quite detailed in our Constitution.The Constitution of India is written and the supreme law of the land. At the apex of single integrated judicial system, stands the Supreme Court which is independent from the control of the executive and the legislature. But in spite of all these essential features of a federation, Indian Constitution has an unmistakable unitary tendency. While other federations like U. S. A. provide for dual citizenship, the India Constitution provides for single citizenship. There is also a single integrated judiciary for the whole country.The provision of All India Services, like the Indian Administrative Service, the India Police Service, and Indian Forest Service prove another unitary feature. Members of these services are recruited by the Union Public Service Commission on an All-India basis. Because th ese services are controlled by Union Government, to some extent this constitutes a constraint on the autonomy of states. A significant unitary feature is the Emergency provisions in the Indian constitution. During the time of emergency, the Union Government becomes most powerful and the Union Parliament acquires the power of making laws for the states.The Governor placed as the constitutional head of the state, acts as the agent of the centre and is intended to safeguard the interests of the centre. These provisions reveal the centralising tendency of our federation. Prof: K. C. Wheare has rightly remarked that Indian Constitution provides, â€Å"a system of government which is quasi-federal, a unitary state with the subsidiary unitary features†. The framers of the constitution expressed clearly that there exists the harmony of federalism and the unitarism. Dr.Ambedkar said, â€Å"The political system adopted in the Constitution could be both unitary as well as federal accor ding to the requirement of time and circumstances†. We can say that India has a â€Å"Cooperative federalism† with central guidance and state compliance. 6) Fundamental Rights â€Å"A state is known by the rights it maintains†, remarked Prof. H. J. Laski. The constitution of India affirms the basic principle that every individual is entitled to enjoy certain basic rights and part III of the Constitution deals with those rights which are known as fundamental rights.Originally there were seven categories of rights, but now they are six in number. They are (i) Right to equality, (ii) Right to freedom, (iii) Right against exploitation, (iv) Right to freedom of Religion, v) Cultural and Educational rights and vi) Right to constitutional remedies. Right to property (Article-31) originally a fundamental right has been omitted by the 44th Amendment Act. 1978. It is now a legal right. These fundamental rights are justiciable and the individual can move the higher judiciar y, that is the Supreme Court or the High Courts, if there is an encroachment on any of these rights.The right to move to the Supreme Court straight for the enforcement of fundamental rights has been guaranteed under Article 32 (Right to Constitutional Remedies). However, fundamental rights in India are not absolute. Reasonable restrictions can be imposed keeping in view the security-requirements of the state. 7) Directive Principles of State Policy A novel feature of the Constitution is that it contains a chapter in the Directive Principles of State Policy. These principles are in the nature of directives to the government to implement them for establishing social and economic democracy in the country.It embodies important principles like adequate means to livelihood, equal pay for both men and women, distribution of wealth so as to subserve the common good, free and compulsory primary education, right to work, public assistance in case of old age, unemployment, sickness and disable ment, the organisation of village Panchayats, special care to the economically back ward sections of the people etc. Most of these principles could help in making India welfare state. Though not justiciable. These principles have been stated a; â€Å"fundamental in the governance of the country†. ) Fundamental Duties A new part IV (A) after the Directive Principles of State Policy was incorporated in the constitution by the 42nd Amendment, 1976 for fundaments duties. These duties are: i) To abide by the Constitution and respect its ideals and institutions, the National Flag and the National Anthem; ii) To cherish and follow the noble ideals, which inspired our national struggle for freedom; iii) To uphold and protect the sovereignty, unity and integrity of India; iv) To defend the country and render national service when called upon to do o; v) to promote harmony and the spirit of common brotherhood amongst all the people of India transcending religious, linguistic, regional or sectional diversities, to renounce practices derogatory to the dignity of woman; vi) to value and preserve the rich heritage of our composite culture; vii) to protect and improve the natural environments including forests, lakes, rivers and wild life and to have compassion for living creatures; viii) to develop scientific temper, humanism and the spirit of inquiry and reform; x) to safeguard public property and to abjure violence; x) to strive towards excellence in all spheres of individual and collective activity so that the nation constantly rises to higher levels of Endeavour and achievement. The purpose of incorporating these duties in the Constitution is just to remind the people that while enjoying their right as citizens, should also perform their duties for rights and duties are correlative. 9) Secular State A secular state is neither religious nor irreligious, or anti-religious.Rather it is quite neutral in matters of religion. India being a land of many religions, the f ounding fathers of the Constitution thought it proper to make it a secular state. India is a secular state, because it makes no discrimination between individuals on the basis of religion. Neither it encourages nor discourages any religion. On the contrary, right to freedom of religion is ensured in the Constitution and people belonging to any religious group have the right to profess, practice or propagate any religion they like. 0) An Independent Judiciary The judiciary occupies an important place in our Constitution and it is also made independent of the legislature and the executive. The Supreme Court of India stands at the apex of single integrated judicial system. It acts as protector of fundamental rights of Indian citizens and guardian of the Constitution. If any law passed by the legislature or action taken by the executive contravenes the provisions of the Constitution, they can be declared as null and void by the Supreme Court.Thus, it has the power of judicial review. Bu t judicial review in India constitutes a middle path between the American judicial supremacy in one hand and British Parliamentary supremacy in the other. 11) Single Citizenship The Constitution of India recognises only single citizenship. In the United States, there is provision of dual citizenship. In India, we are citizens of India only, not of the respective states to which we belong. This provision would help in promoting unity and integrity of the nation.

Applications of amortization

amortization Definitions (2) 1. The gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such payments must be sufficient to cover both principal and interest. 2. Writing off an intangible asset investment over the projected life of the assets. Read more: http://www. investorwords. com/200/amortization. html#ixzz2GXWACfP2 Applications of amortization In business, amortization refers to spreading payments over multiple periods. The term is used for two separate processes: amortization of loans and amortization of intangible assets. Amortization of loansIn lending, amortization is the distribution of payment into multiple cash flow installments, as determined by an amortization schedule. Unlike other repayment models, each repayment installment consists of both principal and interest. Amortization is chiefly used in loan repayments (a common example being a mortgage loan) and in sinking funds. Payments are divided into equal amoun ts for the duration of the loan, making it the simplest repayment model. A greater amount of the payment is applied to interest at the beginning of the amortization schedule, while more money is applied to principal at the end.Commonly it is known as EMI or Equated Monthly Installment. [1] or, equivalently, where: P is the principal amount borrowed, A is the periodic payment, r is the periodic interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and n is the total number of payments (for a 30-year loan with monthly payments n = 30 ? 12 = 360). Negative amortization (also called deferred interest) occurs if the payments made do not cover the interest due. The remaining interest owed is added to the outstanding loan balance, making it larger than the original loan amount.If the repayment model for a loan is â€Å"fully amortized,† then the very last payment (which, if the schedule was calculated correctly, should be equal to al l others) pays off all remaining principal and interest on the loan. If the repayment model on a loan is not fully amortized, then the last payment due may be a large balloon payment of all remaining principal and interest. If the borrower lacks the funds or assets to immediately make that payment, or adequate credit to refinance the balance into a new loan, the borrower may end up in default. Amortization of intangible assetsIn accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets (often intellectual property such as patents and trademarks or copyrights) in a systematic manner over their estimated useful economic lives so as to reflect their consumption, expiry, obsolescence or other decline in value as a result of use or the passage of time. A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each accounting period are generally the same as for depreciation.However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful life and are therefore not subject to amortization (although goodwill is subjected to an impairment test every year). Amortization is recorded in the financial statements of an entity as a reduction in the carrying value of the intangible asset in the balance sheet and as an expense in the income statement. Under International Financial Reporting Standards, guidance on accounting for the amortization of intangible assets is contained in IAS 38. 2] Under United States generally accepted accounting principles (GAAP), the primary guidance is contained in FAS 142. [3] While theoretically amortization is used to account for the decreasing value of an intangible asset over its useful life, in practice, many companies will â€Å"amortize† what would otherwise be one-time expenses by listing them as a capital expense on the cash flow statement and paying off the cost through amortization, thereby improving the company's net income in the fiscal year or quarter of the expense Amortization schedule An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.While a portion of every payment is applied towards both the interest and the principal balance of the loan, the exact amount applied to principal each time varies (with the remainder going to interest). An amortization schedule reveals the specific monetary amount put towards interest, as well as the specific amount put towards the principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal Methods of amortizationThere are different methods in which to arrive at an amortization schedule. These include: †¢Straight line (linear) †¢Declining balance †¢Annuity †¢Bullet (all at once) †¢Balloon (amortization payments and large end payment) †¢Increasing balance (negative amortization) Amortization schedules run in chronological order. The first payment is assumed to take place one full payment period after the loan was taken out, not on the first day (the amortization date) of the loan. The last payment completely pays off the remainder of the loan.Often, the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, an amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal ba lance on each payment date. Example amortization schedule This amortization schedule is based on the following assumptions: First, it should be known that rounding errors occur and depending how the lender ccumulates these errors, the blended payment (principal + interest) may vary slightly some months to keep these errors from accumulating; or, the accumulated errors are adjusted for at the end of each year, or at the final loan payment. There are a few crucial points worth noting when mortgaging a home with an amortized loan. First, there is substantial disparate allocation of the monthly payments toward the interest, especially during the first 18 years of the mortgage. In the example above, payment 1 allocates about 80-90% of the total payment towards interest and only $67. 9 (or 10-20%) toward the Principal balance. The exact percentage allocated towards payment of the principal depends on the interest rate. Not until payment 257 or 21 years into the loan does the payment alloc ation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down. Second, understanding the above statement, the repetitive refinancing of an amortized mortgage loan, even with decreasing interest rates and decreasing Principal balance, can cause the borrower to pay over 500% of the value of the original loan amount. Re-amortization' or restarting the amortization schedule via a refinance causes the entire schedule to restart: the new loan will be 30 years from the refinance date, and initial payments on this loan will again be largely interest, not principal. If the rate is the same, say 8%, then the interest/principal allocation will be the same as at the start of the original loan (say, 90/10). This economically unfavorable situation is often mitigated by the apparent decrease in monthly payment and interest rate of a refinance, when in fact the borrower is increasing the total cost of the property.This fact is often (understandably) overlooked by borrowers. Third, the payment on an amortized mortgage loan remains the same for the entire loan term, regardless of Principal balance owed but only for a fixed rate, fully amortizing loan. For example, the payment on the above scenario will remain $733. 76 regardless if the Principal balance is $100,000 or $50,000. Paying down large chunks of the Principal balance in no way affects the monthly payment, it simply reduces the term of the loan and reduces the amount of interest that can be charged by the lender resulting in a quicker payoff.To avoid these caveats of an amortizing mortgage loan many borrowers are choosing an interest-only loan to satisfy their mortgage financing needs. Interest-only loans have their caveats as well which must be understood before choosing the mortgage payment term that is right for the individual borrower. 3 Amortization calculator An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process. The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.The formula The calculation used to arrive at the periodic payment amount assumes that the first payment is not due on the first day of the loan, but rather one full payment period into the loan. While normal ly used to solve for A, (the payment, given the terms) it can be used to solve for any single variable in the equation provided that all other variables are known. One can rearrange the formula to solve for any one term, except for i, for which one can use a root-finding algorithm. The annuity formula is: Where: †¢A = periodic payment amount P = amount of principal, net of initial payments, meaning â€Å"subtract any down-payments† †¢i = periodic interest rate †¢n = total number of payments This formula is valid if i > 0. If i = 0 then simply A = P / n. For a 30-year loan with monthly payments, Note that the interest rate is commonly referred to as an annual percentage rate (e. g. 8% APR), but in the above formula, since the payments are monthly, the rate must be in terms of a monthly percent. Converting an annual interest rate (that is to say, annual percentage yield or APY) to the onthly rate is not as simple as dividing by 12, see the formula and discussion in APR. However if the rate is stated in terms of â€Å"APR† and not â€Å"annual interest rate†, then dividing by 12 is an appropriate means of determining the monthly interest rate. Derivation of the formula The formula for the periodic payment amount is derived as follows. For an amortization schedule, we can define a function that represents the principal amount remaining at time . We can then derive a formula for this function given an unknown payment amount and .We can generalize this to Applying the substitution (see geometric progressions) We end up with For payment periods, we expect the principal amount will be completely paid off at the last payment period, or Solving for A, we get or After substitution and simplification we get 4 Negative amortization In finance, negative amortization, also known as NegAm, deferred interest or graduated payment mortgage, occurs whenever the loan payment for any period is less than the interest charged over that period so th at the outstanding balance of the loan increases.As an amortization method the shorted amount (difference between interest and repayment) is then added to the total amount owed to the lender. [1] Such a practice would have to be agreed upon before shorting the payment so as to avoid default on payment. This method is generally used in an introductory period before loan payments exceed interest and the loan becomes self-amortizing. The term is most often used for mortgage loans; corporate loans which have negative amortization are called PIK loans. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments.A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule. 5. Amortizing loan In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan (that is, amortized) according to some amortization schedule, typically through equal payments. Similarly, an amortizing bond is a bond that repays part of the principal (face value) along with the coupon payments.Compare with a sinking fund, which amortizes the total debt outstanding by repurchasing some bonds. Each payment to the lender will consist of a portion of interest and a portion of principal. Mortgage loans are typically amortizing loans. The calculations for an amortizing loan are those of an annuity using the time value of money formulas, and can be done using an amortization calculator. An amortizing loan should be contrasted with a bullet loan, where a large portion of the loan will be paid at the final maturity date instead of being paid down gradually over the loan's life.An accumulated amortization loan represents the amount of amortization expense that has been claimed since the acquisition of the asset. Effects Amortization of debt has two major effects: Credit risk First and most importantly, it substantially reduces the credit risk of the loan or bond. In a bullet loan (or bullet bond), the bulk of the credit risk is in the repayment of the principal at maturity, at which point the debt must either be paid off in full or rolled over. By paying off the principal over time, this risk is mitigated. Interest rate riskA secondary effect is that amortization reduces the duration of the debt, reducing the debt's sensitivity to interest rate risk, as compared to debt with the same maturity and coupon rate. This is because there are smaller payments in the future, so the weighted-average maturity of the cash flows is lower. Weighted-average life Main article: Weighted-average life The number weighted average of the times of the principal repayments of an amortizing loan is referred to as the weighted-average life (WAL), also called â€Å"average life†. It's the average time until a dollar of principal is repaid. In a formula, where: †¢ is the principal, is the principal repayment in coupon , hence †¢ is the fraction of the principal repaid in coupon , and †¢ is the time from the start to coupon †¢ 6. Amortization (tax law) In tax law, amortization refers to the cost recovery system for intangible property. Although the theory behind cost recovery deductions of amortization is to deduct from basis in a systematic manner over an asset's estimated useful economic life so as to reflect its consumption, expiration, obsolescence or other decline in value as a result of use or the passage of time, many times a perfect match of income and deductions does not occur for policy reasons.Depreciation A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each tax period are generally the same as for depreciation. However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful lif e, or â€Å"self-created† and are therefore not subject to amortization