ARQ Personal Finance Project REDO

| April 5, 2014

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This project must be typewritten.
Your title page must include your name, project title, name of class, class period, and date.
(8pts) Go to and find TWO careers you might be interested in pursuing (careers i am interested in are- beekeeper, a baker, veterinarian, a nutritionist, yoga instructor, forest ranger, a high school councilor, and a missionary leader). You MUST choose one which REQUIRES A DEGREE (just a plain bachelors degree) and one which DOES NOT REQUIRE a degree. Choose a city you plan to live in- you can choose any city in one of these three states: Colorado, California, or Washington; and find the STARTING annual salary for each job IN THAT CITY. Include all information in a table.
(22pts) Research those two jobs to find the following information and report in table format:
-Annual income
-monthly gross income
-current federal tax rate for your income bracket (CITE YOUR SOURCE)
-current state tax rate for you income bracket (CITE YOUR SOURCE)
_Social security and medicare withholdings (CITE YOUR SOURCE)
-monthly after tax take home pay (SHOW YOUR WORK PROCESS)
-Annual after tax take home pay (SHOW YOUR WORK PROCESS)
(6pts) Write a BRIEF but thoughtful paragraph discussing which other factors you might consider before deciding which job to take, which job you would choose, and why.
(8pts)Choose a competitive investment (not a checking account) from two DIFFERENT financial institutions, in which you might invest. Make a TABLE FOR EACH, showing the type of investment, intrest rat, compounding period, and any restrictions for each type of investment. Keep in mind, you will begin this investment at the beginning of your career, so invest which require a large initial deposit will not work.
(21pts) choose ONE of the investments you researched and calculate how much money you would have IN THIRTY YEARS, assuming you invest 10% of your take home pay each year and receive a cost of living raise (set at the current rate of inflation) each year. Put this information in an Excel spreadsheet and provide the equations you used!!!!!!!!! [Annual pay/%invested/interest earned/total invested/running total]
(10pts) using the percentages below, fin the amount of money your annual income will allow you to spend monthly on each category. Display this information in a table: so like a monthly income:
-Housing 30% -Essentials 2% -Transportation 15%
-Utilities 5% -Medical 5% -Savings8%
-food 20% -clothing 7% -fun2%
(25pts) your report must be professionally typewritten. All Grammar and spelling must be proofed. To earn the highest grade possible, your work must be complete yet sufficient and include everything listed on this assignment.
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STAT- Business Decision Making
Financial Modelling III


Category: Finance

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