Assignment Instructions
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.
Sample Solution
Introduction
This report aims at showing the worksheet of an ideal job. The ideal job selected is working as an accountant for a chain store. An accountant of a chain store works hourly and his weekly income is estimated through the number of hours worked.
Income as an Equation
To begin with, there is need to describe the total weekly income of an accountant in a form of equation. The assumption is that an accountant works at a rate of $40 dollars a week (Schroeder et al., 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Rationally, the hourly rate of $40 has been adjusted with taxes to the government which means the total income received by the accountant is net of all the taxes. Therefore, the income of an accountant will be represented as follows;
Let income be, Y and number of hours be, t.
Therefore, the equation will be represented as follows:
Y = $40 * t
Consequently, if an accountant works for 40 hours a week, his or her weekly income will be estimated as follows;
Y = $40*40
= $1,600
The income of an accountant is expressed in the form of Y=40*t and an accountant works 40 hours a week is likely to earn $1,600. Within the 40 hours, an overtime rate is included daily in the hourly rate of $40 per hour. Therefore, these income is required to cover the weekly expenses for the accountant for example mileage costs, meals, rent as well as other personal and household expenses.
Perhaps, some of this expenses are incurred daily whereas some can be managed on a weekly basis. Therefore, the accountant would be rational to use his or her finances to ensure ability to cover all expenses as well as facilitate savings and moreover cover for insurance policies and mortgage expenses. Ideally, to spend and use this weekly income of $1,600 the accountant needs to put in suitable planning and factor out reasonable expenditure to ensure he or she covers all expenses and some income is well saved to cover for future unexpected expenditure. Put simply, this brings out the aspect of the speculative motive of money where we set aside funds to cater for future unexpected expenditure.
Is the Income Positive or Negative Integer?
The income of an accountant is a positive integer since for the accountant to earn weekly income he or she will have to work for a specific number of hours to earn that specific income. The income is a positive integer since the hourly rate is greater than zero and the accountant has to work for a certain number of hours in a week to be compensated or remunerated (Unger, Szczesny, & Holderried, (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers).
However, with relation to positive or negative integer it depends with the type of transactions involved. Basically as described above earning the income is a positive integer but spending it on the other hand is a negative integer. Therefore, transactions like fueling a car, buying household items as well paying for transportation costs is considered as a negative integer as they reduce the total amount earned by the accountant (Munger, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
Conclusion
Therefore, this report shows that the income of an accountant is represented as Y = $40*t and the income earned is a positive integer. On the other hand, all expenditures with regard to the income are considered as negative integers as they reduce the total income earned.
References
Munger, M. C. (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Tomorrow 3.0: Transaction costs and the sharing economy. Cambridge University Press.
Schroeder, R. G., Clark, M. W., & Cathey, J. M. (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Financial accounting theory and analysis: text and cases. John Wiley & Sons.
Unger, O., Szczesny, A., & Holderried, M. (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Does performance pay increase productivity? Evidence from a medical typing unit. Get research paper samples and course-specific study resources under homework for you course hero writing service – Manage ment Accounting Research, 100649.
