Final Project for Math $103$

Calculate your retirement after $30$ years of saving and investing.

These will probably be the two biggest financial decisions you make in your lifetime $-$ so give it some thought.

Before you choose which project, you want to pursue, take a moment, and determine which profession you want to pursue. Then go to the website and determine the annual salary for that job. If you do not know what career you want to pursue $-$ select one.

Calculate your retirement after $30$ years of saving and investing $($normally a company $401$K$)$

a$.$ Annual Salary from your careel

b$.$ Assume you receive an annual $,$ aise or $3\%$

c$.$ Select your$/$annual rate of return $($based on your risk tolerance$)-10\%,7\%,5\%$ :

d$.$ Assume your company gives a $3\%$ match on your retirement contributions $($i$.$e$.$ you make $$50,000$ per year; you put $3\%$ in the company $401k-$$$50,0000\mathrm{.}03=1,500$; so$,$ the company matches with $$1,500).$ Therefore $$3,000$ is added to your $401K$ per year

e$.$ Use annual numbers only $-$ even though they value changes when the market is open.

f$.$ Do this for a $30-$year period.

If something is unknow make an assumption and make a note on your work.

Grading:

This project, if done well, will move your grade up or down one level. Please refer to the syllabus for the grading scale.

For example:

$\backslash$table$[[\backslash$table$[[$Current Grade based$],[$on test scores$]],$Do not turn in Project,$\backslash$table$[[$Turn in but not well$],[$done$]],\backslash$table$[[$Turn in that explains$],[$your mortgage or$],[$retirement plan$]]],[$A$,$A$-,$A$,$A$],[$C$-,$D$,$C$-,$C$]]$