Integers in the Real World: Connecting Integers to Finances
Integers in the Real World
Connecting Integers to Finances
Imagine that you have graduated and obtained your ideal job! This project will help you connect what you have learned about integers to personal finances.
In this project, you will:
Learn to describe income using an equation.
Learn to evaluate your income based on given hours per week or a goal amount of money.
Learn to make reasonable conclusions about finances.
Connect the idea of positive and negative integers to credits and debits within accounts.
To complete this project you will:
Complete the Ideal Job Worksheet to guide you in developing your budget. Be sure to show all work!
Complete a 2-page, double-spaced, APA formatted report. In the report, you need to present your findings and explain the connections between your calculations and integers. Thoughts to include in the report include: What types of transactions are positive or negative? How can you write an expression to determine your income? How can you write an equation to solve the number of hours you need to work or the amount of money you need to make to reach your financial goals.
INTEGERS IN THE REAL WORLD
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Connecting Integers to Finances
Integers are numbers referred to as the whole number; they can either be positive or negative. The negative integer has a different meaning from positive integers in finance and accounting. For instance, integers with positive signs represent an increase in the initial amount of income. On the other hand, integers with negative signs mean a deduction of cash from the initial amount.
After completion of my study in the year 2018, all I ever wanted was a dream job to earn a living. Lucky enough, I was hired as an Australian lecturer with a base pay of A$105,000 per year and an additional total pay of $20,000 per year in the year 2020. The total average pay was $105,000+$20,000=$125,000 per year (Glassdoor, Inc., 2022) due to my interest in keeping track of my financial thread. The following was done to evaluate earn per hour in that specific year: One year has 12 months and 48 weeks, a week has seven days, and a day has 24 hours. Earning $125,000 per year means earns $125,000/12=$10416.67 per month and $125000/48= $2604.167 per week. Furthermore, using the total earnings per week, $2604.167/7= $372.12 per day and $372.12/24= $ 15.5 per hour. The equation to this income solution can be expressed as income(I)= $15.5 5h*7*4*12, where h=number of hours, making it possible to calculate any income generated at any given time. For instance, if I am only required to compute the total time to make for $ 400, it will equal $15.5*h*7*4*12=$ $400. The total time required will therefore be =0.08hrs.
Finance describes a personal budget as a financial plan that helps allocate future and current personal income toward exp...