Paragraph 1
Write a paragraph describing your employment plans after graduation. Address each of the following questions, supporting your factual statements with sources.
1. What is your major? BSN
2. What is your desired job after graduation? Perioperative nurse
3. What is your desired geographical location for your post-graduation job? Current location.
4. What is the starting salary for your desired job after graduation in your desired geographical location? Mention/Reference at least 1 source.
Paragraph 2:
Write a paragraph addressing the following questions. All calculations with supporting work must be included to receive full credit. You can type the calculations using the Insert–Equations in Word or insert a picture of your (neatly) handwritten work.
1. Compute your monthly salary. Round to the nearest cent.
2. Compute 10% of your monthly salary for retirement. Round to the nearest cent.
3. Reflect on the importance on saving for retirement.
Paragraph 3:
DO NOT USE GOOGLE OR OTHER SOURCES. YOU MIGHT GET THE WRONG FORMULA.
Use the appropriate formula from the Financial Literacy Unit and the amount you put aside for retirement each month to solve the problem:
Suppose you invest your monthly retirement savings into an ordinary annuity that is compounded monthly at 5%.
1. You must identify the formula you choose, explain each of the variables in the formula, and the steps you took to arrive at the answers. Round your answers to the nearest cent .
2. Clearly restate your monthly retirement savings amount.
3. What is the accumulated amount after 20 years?
4. What is the accumulated amount after 40 years?
All calculations with supporting work must be included to receive full credit. You can type the calculations using the Insert–Equations in Word or insert a picture of your (neatly) handwritten work.
Paragraph 4:
· Compute the difference between the accumulated amounts after 20 years and 40 years.
· Reflect on your calculations between the amount in the account after 20 years and 40 years. Do not just say “40 years accumulates more than 20 years.” Look for some kind of comparison and comment on it.
· What can you conclude from your calculations?
· Would it be worth to you to start saving for retirement now?
· Conclude the assignment with a short reflection on the financial literacy assignment and what you have learned from it.