William, starts saving $4,000 a year (about $333.33 per month) when he is 20 and stops after 20 years, after having saved $________.

His brother, James, starts saving $4,000 at 40, and does so for 25 years, for a total of $_______ saved.

They earn 6% on their savings.

At age 65, William will have $____ in his account, while James will have  $_____ . Despite having saved less, William's nest egg will be almost four times greater because of compounding

1. If you put $500 into a regular savings account in the bank when you are 18 years old, and add $50 each month, how much will you have when you are 68 years old (50 years later)?

$39,500.23

2. If you put $500 into a regular savings account in the bank when you are 30 years old, and add $50 each month, how much will you have when you are 68 years old (38 years later)?

$28,301.40

3. If you put $500 into a regular savings account in the bank when you are 40 years old, and add $50 each month, how much will you have when you are 68 years old (28 years later)?

$19,938.10

4. If you put $5000 into a regular savings account in the bank when you are 30 years old, and add $500 each month, how much will you have when you are 68 years old (50 years later)?

$283,013.98

5. If you put $5000 into a regular savings account in the bank when you are 40 years old, and add $500 each month, how much will you have when you are 68 years old (28 years later)?

$199,381.03

6. If you put $500 into a regular savings account in the bank when you are 18 years old, and add $100 each month, how much will you have when you are 30 years old (12 years later)?

$15,782.42

This makes me think that saving is an important part of life for the future

Week 5 Homewwork

I am very grateful for my internship at Terra Linda Veterinary Hospital. I learned about becoming Veterinary Technicians and Veterinarians, this helped me visualize if those career were potentially a good choice for me. From this class, I learned a lot about having financial plans specifically for yourself and figuring out what values were important for myself. If I had not participated in my internship this summer, I would have not received knowledge on this career, financial/budget plans, and general information to study for this sort of career. With Waybook, I learned about my strengths, values, passion, and personality. With all of the activities, I learned what will be better for myself and my future.

Interest blog

1. If you put $500 into a regular savings account in the bank when you are 18 years old, and add $50 each month, how much will you have when you are 68 years old (50 years later)?

$39,500.23

2. If you put $500 into a regular savings account in the bank when you are 30 years old, and add $50 each month, how much will you have when you are 68 years old (38 years later)?

$28,301.40

3. If you put $500 into a regular savings account in the bank when you are 40 years old, and add $50 each month, how much will you have when you are 68 years old (28 years later)?

$19,938.10

4. If you put $5000 into a regular savings account in the bank when you are 30 years old, and add $500 each month, how much will you have when you are 68 years old (50 years later)?

$283,013.98

5. If you put $5000 into a regular savings account in the bank when you are 40 years old, and add $500 each month, how much will you have when you are 68 years old (28 years later)?

$199,381.03

6. If you put $50 into a regular savings account in the bank when you are 40 years old, and add $10 each month, how much will you have when you are 68 years old (28 years later)?

$3,921.56

This makes me think… ________

Interest

1. If you put $500 into a regular savings account in the bank when you are 18 years old, and add $50 each month, how much will you have when you are 68 years old (50 years later)?

A:$39,500.23

2. If you put $500 into a regular savings account in the bank when you are 30 years old, and add $50 each month, how much will you have when you are 68 years old (38 years later)?

A:$28,301.40

3. If you put $500 into a regular savings account in the bank when you are 40 years old, and add $50 each month, how much will you have when you are 68 years old (28 years later)?

A:$19,938.10

4. If you put $5000 into a regular savings account in the bank when you are 30 years old, and add $500 each month, how much will you have when you are 68 years old (38 years later)?

A:$283,013.98

5. If you put $5000 into a regular savings account in the bank when you are 40 years old, and add $500 each month, how much will you have when you are 68 years old (28 years later)?

A:$199,381.03

6 If you put $2,500 into a regular savings account in the bank when you are 18 years old, and add $25 each month, compounded quarterly, how much will you have when you are 68 (50 years later)?

A:$23,550.02

This makes me think that it is very worth it to have any kind of savings account, because over long periods of time, you can make a lot of money. Also, the earlier you start, the more money you make. It is not a linear addition. (10 years = 10,000 dollars) The more money you can put in to start means more interest, as the amount you add doesn't make as big of a difference in the overall total.

I am grateful for many things in life. To name a few would be incredibly good luck,  exceptional talents in certain areas of expertise, and humbleness as well, but the thing that I am most grateful for is family and friends, In my personal and work life my friends and family are always there to support my when I triumph and catch me when I fall.

Week 5 HW

I'm grateful for this great experience with the VCA Madera Pet hospital. I got to meet some really cool people and see different breeds of pets. I'm grateful for the summer career academy for helping me make a resume and a cover letter and letting me know what Career Readiness skills I need to improve on. For the classes I learned a lot about myself like what values are very important to me. This class also introduced me to Blogger and how to use it, which might be a helpful tool in the future. The finance planning activity really opened my eyes to what my future finance situation might be. So I have to rethink a couple of things. I am grateful for having such a productive summer that will look good when I apply to college.

Week 5

I am grateful for the opportunities given to me in this class to improve my knowledge of myself and to improve my application and job aspirations. Throughout the last five weeks, I have enhanced my knowledge of the parts of an application greatly by learning how to best present myself to my employer.  

I have also learned more about myself than I thought I wanted to know. (As it turns out, I quite enjoyed learning more about myself.) Through Waybook, I also learned what jobs and careers might interest me by looking more closely at what interests me and what my personality is. My idea of myself shifted from thinking I had no direction or sole interest to finding that as long as I am learning, I am happy. This will definitely come in handy later in life when I am applying for jobs, or find myself in a rut at work. I now know I can turn toward learning to improve my experience almost anywhere.  In addition to Waybook, I learned about myself through evaluating my career readiness skills. I am very grateful to have learned what most employers look for, and to know that I have a good handle on most, if not all, of the skills. 

Most of all, I am grateful for the opportunity to have worked in a professional lab environment in a low risk position that gave me the chance to practice what I have learned in class. This was probably a once in a lifetime opportunity and I am thankful that I got to have it with enough support to get me through it and make sure I did well at the actual internship. This allowed me to get the most possible out of the internship.