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Directions

Directions. On a sheet of paper to be kept in the enrichment section of you binder, you will need to have: The career you have chosen and the original salary (and student loan if given).These are the only options and you must pick one!

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Directions

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  1. Directions • On a sheet of paper to be kept in the enrichment section of you binder, you will need to have: • The career you have chosen and the original salary (and student loan if given).These are the only options and you must pick one! • Your tax calculations and new salary. You may you a calculator but you need to show all work! Circle your new salary and put a box around your monthly income.

  2. Directions continued • You will copy down the chart, including the car payment example, but do NOT complete or do any of the calculations. We will do those together after break. • You will turn this in for the first part of your project grade.

  3. Pick a career you might be interested in • Teacher: $35,000 per year • Doctor: $70,000 per year/student loan of $1500 per month • Lawyer: $58,000 per year/student loan of $1000 per month • Actor/Singer: $28,000 per year • Athlete: $23,000 • Computer Engineer: $64,000 per year/student loan of $750 per month • Firefighter: $30,000 per year • Police officer: $37,000 per year

  4. Step 1- figuring out your monthly income 1. Using the income you’ve been given, calculate the tax bracket you’re in using the information below. • 15% - $8,000-$34,000 • 25%- $34,001-$83,000 2. Multiply your salary times the percent (don’t forget to turn the percent into a decimal to make it easier) in order to find out how much tax you would pay. $80,000x.25= $20,000 tax 3. Salary minus tax= new salary Ex. $80,000-$20,000=$60,000 4. To get your monthly income, take your new salary and divide it by 12 (number of months in a year) Ex. $60,000/12= $5,000 monthly income

  5. Making a Percent Circle • Using your data, complete the following chart. Competing this chart will provide you all the information you need to the create a circle graph. Monthly salary:

  6. House Payments Any house marked short sale, foreclosure or “as is” usually requires some work. Also, anything that might be wrong- plumbing, roof, appliances- will be your responsibility to fix.

  7. Cars • Honda fit used $10,000 $185.00 per month • Chevy spark new middle $16,000 $295/mo • Ford Fusion fully loaded new $24,000 $460 per month • GMC Sierra base new $31,000 • $570/mo

  8. Circle Graph • Make sure that you’ve spent all of your monthly income or your degrees will not add up. • Make sure all of your degrees add up to 360 degrees or your circle graph won’t work. • Use a protractor and a ruler to create your circle graph. • If you need help creating your circle graph, see directions on Ms. Andrus’s website. • Color and label the titles and percents on your circle graph.

  9. Final Project • Must display on your construction paper… • •Job Title • •Type of Education Needed • •Yearly Income • • Paper Plate Percent Circle • - Colored and Labeled with % and titles • • Your Chart which should include: Mortgage payment, Car payment, and other bills from your family budget

  10. Log on to the computer. Open the “Student” Folder and select “Destination Success.” If you don’t have a Students Folder, go to the TeacherWeb classroom website, “Links.” To log on, use your students ID number as both your username and password (your 56 number). Once you are logged in, select the activity titled “Percent Circle.” Remember, take your time! Read, listen, and participate because the program monitors your progress that Ms. Andrus can review. When you finish, log off of Destination and the computer. DO NOT CLOSE THE LAP TOPS PLEASE! Destination Success

  11. Exit Slip • Things I learned • Things I would like to know more about… • Things I need more help with/don’t understand…

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