Saved Income
The money you have left after all essential and nonessential expenses will be deposited into a savings account.
The interest rate for your savings account is 2%. 2% = 0.02
and is calculated at the end of the year.
Any monthly saved income will be deposited into a savings account. The savings account has
an annual percentage rate of 2%.
Monthly Saved Income
v_________________________
Yearly Savings
w_________________________
Annual Percentage Rate
Annual Interest (I = Prt) P = Yearly Savings;
2% = 0.02
r = 0.02; t = 1
Total Value of Savings Account (Yearly Savings + Interest)
x______________________
y______________________ (w+x)
Project Summary
WRITE THIS IN YOUR WARM UP JOURNAL
Yearly Salary: _____
Yearly Total Payroll Deductions: ______
Yearly Disposable Income:______
Yearly Essential Expenses: ______
Yearly Discretionary Expenses: ______
Yearly Savings: ______
Annual Interest: ______
Total Value of Savings Account: ______
PROJECT SUMMARY
I, Ms. Haka am a teacher earning a yearly salary of $48,000.
Over the course of the year, I will pay (Total Payroll Deduction) in Federal
withholding and payroll taxes and keep Disposable Income. Of that, I will spend
Essential Expenses and Discretionary Expenses on all expenses. I will save Yearly
Savings this year with Annual Interest in interest for a total of Total Value of
Savings Account.