Name:
Worksheet #1
Name: ______________________________________ Pd. ____
Part I: Job Research Paper
Research 3 jobs in one or more professions that interest you. Choose one job that pays an average salary which falls within the specified limits for your education level you desire (H.S. diploma, college degree, or master’s degree).
Remember, you will be obtaining this job right out of school, so you will have NO previous experience at this profession. So, even though you may be interested in being a Cardiac Surgeon or the President you cannot choose them because they require extended education/experience beyond our scope—choose something at a lower level that you can work in so that you can attain your ‘dream’ job at a later time.
Most entry level positions will be under $70,000. It is EXTREMELY RARE FOR ANYONE to make more than this (even a master’s level degree)! Try to keep it as realistic as possible.
Type a synopsis (Times New Roman font, 12 point) of your findings on each job and the one you chose USING COMPLETE SENTENCES and include as a separate document to this worksheet. In your paper be sure to give a description of each job including general duties, starting salaries, and which job you chose and why.
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Part II:
Fill in the information below based on the job you chose, education level, beginning salary (remember, no extravagant salaries), and investment amount. Then follow the webquest guide to fill in the table and answer the other questions:
Education level: __________________________________
Profession: _______________________________________
Salary: $_____________________________________
Investment: (50% of salary) $___________________
1. Certificates of Deposit - Research bank rates and record below. Use the compound interest calculator to find the years needed to get to $1 million.
|Years |Name of Institution |Greatest APY |Years to make |
| | |(annual percentage yield) |$1,000,000 |
| | | |From the |
| | | |compound interest |
| | | |calculator |
|1 year | | | |
|3 years | | | |
|5 years | | | |
2. Now use the compound interest calculator (found on the webquest site) to find the interest rate necessary to have $1,000,000 by the time you reach age 67 (the current retirement age). Assume you start investing at age 18 - for a high school graduate, 22 - for a college graduate, and 26 - for a graduate student. Round your answer to the nearest hundredth of a percent and record this number below.
Calculate the number of years until your “retirement” (based on your education role): ___________
Find the Interest rate you need to obtain $1,000,000 by the age of 67: ________________________
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