"my salary" being $73,000
Biting for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkicefoigmklak/views/app.html BURCU TUR TE LUTETTU Mortate loan 2. Assume you are planning on spending a certain amount of income towards a mortgage. The terms of the mortgage are 1.85% APR for 30 years. You plan on spending 32% of your monthly gross income towards your mortgage. Make sure to show at least 1 sample formula that you used in Excel to get the house price. If you spend 32% of your monthly salary towards a house, what is the highest price house you can afford? . What is the highest priced house a high school graduate can afford? Use an absolute or relative change statement to compare the house prices of the high school graduate and your house, Retirement Account 3. Assume that your selected job has a retirement plan that allows you to save for 38 years. if 7% of your monthly income is put into a retirement account, how much should you expect if the annual return is 4.99%? How much should a high school graduate expect to get if they also save 7% of their salary for 38 years? Use an absolute or relative change statement to compare the retirement accounts of the high school graduate and your retirement. Make sure to show at least 1 sample formula used to get the retirement price. Salary Increase OK HX g for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkiseloigmkfalc/views/app.html . Salary Increase 4. Imagine if your job gives a salary raise of 1.75% each year. How long will it take (rounded to the whole year) for your salary to be twice as much as when you started? of the high school graduate also received the same percentage raise, how long would it take for them to get twice as much money (rounded to the whole year)? Compare the years for both the college graduate and the high school graduate. Explain the reasoning for your answer. Use an absolute or relative change sentence in your comparison. 5. Consider working for a company that gives you 2 options for a yearly increase in your salary: A. You can take a wage increase of 2.25% of your salary B. You can take a wage increase of $1350 added to your salary Which scenario should you take for your job option A or B? Explain why you chose your option from the previous question. Make sure to address any absolute or relative change statements as needed. Should the high school graduate take option A or B? Justify your answer for the high school graduate. . Submit only the Word file following your instructor's directions for submission Biting for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkicefoigmklak/views/app.html BURCU TUR TE LUTETTU Mortate loan 2. Assume you are planning on spending a certain amount of income towards a mortgage. The terms of the mortgage are 1.85% APR for 30 years. You plan on spending 32% of your monthly gross income towards your mortgage. Make sure to show at least 1 sample formula that you used in Excel to get the house price. If you spend 32% of your monthly salary towards a house, what is the highest price house you can afford? . What is the highest priced house a high school graduate can afford? Use an absolute or relative change statement to compare the house prices of the high school graduate and your house, Retirement Account 3. Assume that your selected job has a retirement plan that allows you to save for 38 years. if 7% of your monthly income is put into a retirement account, how much should you expect if the annual return is 4.99%? How much should a high school graduate expect to get if they also save 7% of their salary for 38 years? Use an absolute or relative change statement to compare the retirement accounts of the high school graduate and your retirement. Make sure to show at least 1 sample formula used to get the retirement price. Salary Increase OK HX g for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkiseloigmkfalc/views/app.html . Salary Increase 4. Imagine if your job gives a salary raise of 1.75% each year. How long will it take (rounded to the whole year) for your salary to be twice as much as when you started? of the high school graduate also received the same percentage raise, how long would it take for them to get twice as much money (rounded to the whole year)? Compare the years for both the college graduate and the high school graduate. Explain the reasoning for your answer. Use an absolute or relative change sentence in your comparison. 5. Consider working for a company that gives you 2 options for a yearly increase in your salary: A. You can take a wage increase of 2.25% of your salary B. You can take a wage increase of $1350 added to your salary Which scenario should you take for your job option A or B? Explain why you chose your option from the previous question. Make sure to address any absolute or relative change statements as needed. Should the high school graduate take option A or B? Justify your answer for the high school graduate. . Submit only the Word file following your instructor's directions for submission
