Math Project/Worksheet
ATTACHED
Objective: This project is intended to give you practice with calculating income from
investments and predicting monetary needs based on future and current expenditures.
You will identify professions and locations that appeal to you so that you may begin
thinking about what may affect future decisions.
Make the following assumption: You will graduate this Spring and get your preferred job
immediately upon graduation. Be sure to show all calculations when asked.
1. State the profession that you intend or would like to pursue and where you would
like to live. Explain something about why you selected your chosen profession and
desired location.
2. Research potential starting salaries and possible house prices for your choices in your
desired location and provide them. Include your citations for the values and any
assumptions that you are making about your choices.
3. Research what the state and federal income taxes are for the state in which you
want to live. Keep in mind that not all states have a state income tax. Based on your
research, what will your salary be after taxes? Show calculations.
4. Let’s assume that housing prices will remain relatively stable. You will need 20% for a
down payment for your chosen house from Step 2. You plan on moving and
purchasing the house in 5 years from now. How much would you need to save every
month in order to have the down payment? Assume an APR of 5%. Show
calculations.
5. If you put away $100 a month from after graduation until retirement (age 65) in an
investment account with an APR of 3.5% how much will you have to retire on? Show
calculations. Show calculations on a separate sheet.
6. Recreate the table on page 2 (showing monthly amounts) and calculate your monthly
budget and cash flow based on the salary you found in Step 2. You can add or
eliminate as needed.
