Blog 5

In the internship class this summer, I am grateful to learn about the work readiness skills and how to be a professional person in the business world. The experience will help me to secure and keep jobs later on in life. I have learned how to create a resume and cover letter that will help me in securing job positions. The class has also helped me to grow more comfortable to a business environment.
In my internship this summer, I am grateful for being given the opportunity. This experience will go on my college applications and show that I'm a determined person. The internship has also helped me grow as a person and better understand the path I want to take in college.
From the internship, I have learned that I am not a person that can stay behind a desk all day and do mindless work. I need to do something with purpose that will keep me fully interested.
From doing discoveries in class, I have found that I need to be more aware of my finances and the expenses I have so I can create a budget for certain things. This will help me save money for college and any other expenses that will come in the future.
In the class this summer, I have learned how to use sites like blogger and linkedin which will help in the business world in the future. I have also learned valuable social skills from working in an office environment. I am now not afraid to ask questions if needed and I can keep a friendly and positive attitude while at work. I learned to also keep as organized as possible to avoid mistakes while on the job.
I am extremely lucky to have received the opportunity to participate in this class and internship.

Savings and Credit 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)?

$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 (38 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 $400 into a regular savings account in the bank when you are 16 and add $100 each month, how much will you have when you are 22 years old (8 years later). If I added $250 each month, I could have $25,290.15

$10,375.95 

This makes me think that if I continue to save as I have until I graduate college, I will have saved $10,375 which is will be helpful in paying for additional schooling, or renting an apartment, or maybe even buying or leasing a car. I can even add more if I wanted to (by getting a more fuel efficient car, making a better budget) and planning for when I am not working (when the pool is closed for the winter!)

Blog #6 Interest and Savings

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)?

$395,002.25

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 out $1000 into a regular savings account in the bank when you are 25 years old, and add $50 each month, how much will you have when you are 50 years old (25 years later)?

$18,228.35

This makes me think that I should start saving as soon as possible because then when I'm older I will have rainy day money saved up.

Week 5

I am grateful for having the opportunity this summer to work in a kitchen and get the experience I need to pursue my career goal. This internship was both interesting and helpful. It helped me know for sure that this is the field of work I want to enter, and I am very grateful for that. Every one of my coworkers was always so kind, it felt like joining another family, even though I was only there for 6 short weeks. It makes me want to apply for a job there once my schedule opens up so I can continue to do something I am happy doing with people that make me feel at home.
I am also grateful for learning about budgeting my finances this summer in class, as well as learning a little about my strenghts and weaknesses and how they can effect my career.
If I had not done this internship, my summer would've likely been a lot of water polo and a lot of sitting at home doing nothing important, so I am grateful I had the chance to do something fun and beneficial this summer.

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 (38 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 (make up your own problem)-- If your put 1,000 into a regular savings account when you are 18 years old and add $20 each month, how much will you have when you are 68 years old?

$17,115.80

This makes me think that it would be a great idea to start a regular savings account when I turn 18. The earlier the better! The money really adds up!

Interest Rates

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 (38 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 $100,000 into a regular savings account in the bank when you are 28, and add $200 each month, how much will you have when you are 68? (40 years later?)
$266,213.67

This makes me think that one should start earlier in saving, no matter what. With more time comes more money.

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)?

$11,456.02

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)?

$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 $5000 into a regular savings account in the bank when you are 20 years old and add $100 each month, how much will you have when you are 68 years old (48 years later)?

$81,528.26

This makes me think that I should start investing in a bank account as soon as possible. The money really adds up over the years.

Note: For all of the above problems, interest rate is at 1%.