Unit 5 Discussion MM150 Survey of Mathematics
Consumer Math
The amount of time spent saving for retirement can have a huge impact on your lifestyle once you retire.
Post 1: Initial Response
Open the Investment Calculator.
- Enter an amount between $100 and $500 that you think you can afford to save each month for retirement into the spreadsheet.
- Calculate how many years it will be until you reach age 67. Enter this amount into the spreadsheet.
- Choose an interest rate between 1% and 7% and enter it into the spreadsheet.
- Add 10 years to your previous age calculation to determine how much more you could have accumulated if you started 10 years ago.
The investment calculator will show you how much you can save if you invest today and how much you could have accumulated if you had started your investing 10 years ago.
In your post, include the following information and answer the questions:
- The amount you chose to save each month.
- The number of years until you reach 67.
- The interest rate you used.
- The result of your two investment scenarios.
- How much more would you have for your retirement if you had started saving 10 years ago?
- Did the results surprise you in any way? Explain.
- Do you think the amounts you have calculated will be enough to retire on?
Review an example of an initial response for this Discussion.
Post 2: Reply to a Classmate
You are an investment advisor to your fellow classmate. After doing these calculations, your classmate is upset to learn how much more could have been accumulated with 10 more years of investing. You can help! Find a classmate’s initial post that has not yet been replied to by a fellow classmate.
Open the Post 2 Investment Calculator.
- Enter the total amount that would have been saved by investing 10 years ago from your classmate’s post.
- Enter the same interest rate your classmate chose for their investing.
- Enter the number of years it will be from now until your classmate turns 67.
The spreadsheet calculates the amount of money your fellow classmate will need to save each month in order to obtain the same future amount as if s/he had started saving 10 years ago.
The reply to your classmate should include the following information and answer these questions:
- Your classmate’s total amount from 10 years ago.
- Your classmate’s interest rate.
- The number of years until your classmate turns 67 years old.
- The amount your classmate should save each month to reach this goal.
- Has doing these calculations inspired you to start saving more for retirement?
- What might you tell someone younger than you about saving early for retirement?
Review an example of a peer reply 1.
Post 3: Reply to Another Classmate
Find a thread in the Discussion Board that you find interesting and join the conversation by replying to a post. Post several sentences on this topic that are thoughtful and advance the discussion mathematically.
**If you would like to do further research on this topic, the Initial Response Post uses the formula for the Future Value of an Annuity. The Post 2 Reply uses the formula for Sinking Fund.
Unit 5 Discussion MM150 Survey of Mathematics Answer
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