Integers In The Real World Connecting To Finances

Integers In The Real Worldconnecting Integers To Financesimagine That

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.

Paper For Above instruction

After completing the Ideal Job Worksheet and researching potential salaries, I selected a position aligned with my degree—such as a marketing manager. Based on data from Glassdoor (2024), the average annual salary for this role is approximately $85,000, translating to an hourly rate of about $40 (assuming a standard 40-hour workweek). Understanding these figures allows me to relate income and expenses through the concept of integers, where positive integers represent income, and negative integers represent expenses or debts.

Using the hourly wage, I can express my income (I) as a function of hours worked (h). The equation I = 40h encapsulates this relationship, where I is the total income in dollars, and h represents hours worked per week. For example, if I work 40 hours, my weekly income would be I = 40 × 40 = $1,600. Since income signifies a gain, it is represented as a positive integer, reflecting an increase in my financial balance. This positivity indicates earnings entering my account, which is essential for budgeting and financial planning.

To determine the number of hours required to earn a specific amount, such as $400 per week, I can rearrange the equation: h = I / 40. Substituting I = 400 yields h = 400 / 40 = 10 hours. This calculation shows that working 10 hours per week at the specified rate would meet my weekly earning goal. The equation highlights how integers are integral to budgeting — positive for income, negative for expenses, and how algebraic expressions can assist in planning work hours and income goals.

Budgeting also involves factoring in expenses such as transportation. Assuming I own a car, I researched the local gas price—$3.50 per gallon—and estimated weekly driving distance to the workplace of 50 miles round-trip. To express the weekly gas expense (M), I wrote the equation M = 3.50 × g, where g is the gallons of gas used weekly. If my vehicle’s fuel efficiency is 25 miles per gallon, then g = 50 miles / 25 miles per gallon = 2 gallons. Therefore, weekly gas cost becomes M = 3.50 × 2 = $7, which is a positive expense (debit) in my budget.

Gas expenses are negative transactions because they reduce my total available funds; hence, they are represented as negative integers in my financial equation. For example, my weekly balance (B) can be expressed as B = Income - Expenses, or in terms of letters, B = I - (Gas + Other Expenses). If my income is $1,600, gas costs $7, and I estimate other expenses like rent and utilities totaling $600, the weekly balanced equation would be: B = 1,600 - (7 + 600) = $993. Since this is a positive balance, it indicates surplus funds after expenses for the week.

To project monthly expenses, I multiplied weekly costs by four. The monthly gas expense equals 4 × 7 = $28. Other monthly expenses such as rent ($1,200), utilities ($150), and entertainment ($200) sum to $1,550. Combining all expenses, my total monthly costs are approximately $1,578, and my gross income over the month (assuming four weeks at $1,600 weekly) totals $6,400. Subtracting expenses from income reveals a monthly savings of $4,822, demonstrating effective financial management through understanding integers and budgeting.

This exercise comprehensively illustrates that positive integers represent income and assets, while negative integers denote expenses, debts, or withdrawals from bank accounts. Recognizing these signs is crucial for accurate budget calculations, financial assessments, and goal setting. The use of simple algebraic equations to determine work hours, income, and expenses emphasizes how integers are fundamental in everyday financial decisions. By linking numerical representations to real-life scenarios, I gained a clearer understanding of personal finance management post-graduation, reinforcing the importance of accurate calculations and awareness of how positive and negative numbers influence overall financial health.

References

• Glassdoor. (2024). Average salary for a marketing manager. Retrieved from https://www.glassdoor.com
• U.S. Bureau of Labor Statistics. (2024). Occupational outlook handbook: Marketing managers. https://www.bls.gov
• Investopedia. (2023). Understanding positive and negative cash flows. https://www.investopedia.com
• Federal Reserve Bank. (2024). Personal finance statistics. https://www.federalreserve.gov
• MyMoney.gov. (2022). Budgeting basics. https://www.mymoney.gov
• Bankrate. (2024). Average gas prices by state. https://www.bankrate.com
• GasMileage. (2023). Vehicle fuel efficiency information. https://www.gasmileage.com
• IRS.gov. (2024). Tax implications of income and expenses. https://www.irs.gov
• SmartAsset. (2023). How to create a personal budget. https://www.smartasset.com
• MSNBC. (2022). Impact of inflation on personal expenses. https://www.msnbc.com