7th grade math homework help PLEASE!

[KathiWithAnI]

Ok, I know what I think is the way to do this, but it's been awhile. I'm trying to help my nephew and don't want to confuse the poor guy any further.

Here's the problem:


WHEN DOES IT PAY OFF?

Sure everyone tells you that you should go to college but does it really pay to go? In this assignment you will investigate approximately when it actually benefits you financially to go to college. You will use the average starting salaries for high school, community college, and university graduates. Assuming each can save about 10% of their income a year calculate and discuss the net worth of each person and evaluate when/if it is beneficial for someone to go to a college or university.


High School Graduate
Years Attended college=0
Avg. Start. Salaries$24,000.00
Average tuition = $0

Community/Technical College Graduate
Years Attended=2
Avg. Start. Salaries $35,000.00
Average tuition = $10,000.00

University graduate
Years Attended=4
Avg. Start. Salaries = $53,000.00
Average tuition = $40,000.00


1. Given the information create 3 equations that would explain each persons net worth. Be sure to take into consideration the debt caused by tuition cost. Also, consider what does year= 0 mean?

a. High School Graduate
b. Community College Graduate
c. University Graduate

2. Graph each equation. Neatly use your own graph paper. Label the x-axis with years and the y-axis with dollars in thousands.

Using notebook paper or a computer program, use complete sentences and neat handwriting to answer the following questions:

3. Describe your findings using the graph. Determine at what age it would be more beneficial financially to have gone to community college or university. Label this on your graph. Be sure to compare all three vocational possibilities.


DON'T really need help with the below questions, just inclded them for fun
4. Based on your answers to this project and factors in your personal life, do you plan to further your education after high school? Why or Why not?

5. Describe some factors, monetary and other, that have an effect on your decision to go to a college or a university. How would they affect the equations and graphs?


Thanks so much!
Kathi

 

[KathiWithAnI]

 

[wdwdancerwannabe]

Good Grief!!!!!

I got tired just reading it. I can't believe what our little ones are expected to do these days.

I mean - you do have to admit, that it's a very practical and interesting project - but I can't believe this is expected of a SEVENTH grader!!!!

Our district is making a huge transition in their math curriculum - parents are flustered, teachers are pushed even harder to push our kids further, and the kids who struggle anyway are even more so.

I know this isn't helping w/ the homework assignment - but it's just appalling to me....

Sorry I wasn't any help...

 

[wdwdancerwannabe]

Sure everyone tells you that you should go to college but does it really pay to go? In this assignment you will investigate approximately when it actually benefits you financially to go to college. You will use the average starting salaries for high school, community college, and university graduates. Assuming each can save about 10% of their income a year calculate and discuss the net worth of each person and evaluate when/if it is beneficial for someone to go to a college or university.


High School Graduate
Years Attended college=0
Avg. Start. Salaries$24,000.00
Average tuition = $0

Community/Technical College Graduate
Years Attended=2
Avg. Start. Salaries $35,000.00
Average tuition = $10,000.00

University graduate
Years Attended=4
Avg. Start. Salaries = $53,000.00
Average tuition = $40,000.00


1. Given the information create 3 equations that would explain each persons net worth. Be sure to take into consideration the debt caused by tuition cost. Also, consider what does year= 0 mean?

a. High School Graduate
b. Community College Graduate
c. University Graduate

2. Graph each equation. Neatly use your own graph paper. Label the x-axis with years and the y-axis with dollars in thousands.

Using notebook paper or a computer program, use complete sentences and neat handwriting to answer the following questions:

3. Describe your findings using the graph. Determine at what age it would be more beneficial financially to have gone to community college or university. Label this on your graph. Be sure to compare all three vocational possibilities.


Thanks so much!
Kathi[/QUOTE]


I think what you have to do is determine 10% of each person's yearly salary:
24,000 x 10% = 2400 - so this person would save $2400 per year. This person could begin saving immediately out of HS w/o paying a debt.

The one who earns 35,000 - saves 3500 per year, but it would take him 2-3 years to pay off his debt + the 2 years that he actually went to college.

The University Grad ($53,000.00) - would save 5300/year - but would take him about 7-8 years to pay his debt + the 4 years in college before ever saving.
Average tuition = $40,000.00

Are you (he) understanding the X/Y axis part? I've SEEN this done and it makes TOTAL sense when someone explains it to me, but I can't do it on my own anymore.

It's asking you an AGE...so I would think of a "constant" to start with .... say "18". So all students start at age 18. the HS grad will start saving at 18 and at first, will have more saved, but over time, the University grad won't start saving until he's about 30 --- but it won't take long for him to catch up to the HS grad!

On a personal note --- the debt is A LOT higher than this - and takes A LOT longer to pay off. I went to an everyday 4 year university - nothing fancy. I do have a Master's --- but LITERALLY - I will be retired before my student loans are paid off!!!!!!

The question shouldn't be: should you go to college - the ? should be - "Should you get a loan" or "Should you work your butt off for a scholarship?" (Which I didn't do!)

 

[ErikdaRed]

Since the don't mention interest I'm assuming they are just going for three straight lines. Having age being on the x-axis (0=high school graduation) and the y-axis is money. Then the lines are:

y = 2400x
y = 3500(x - 2) - 10000 x > 2 y = -5000x, 0 <= x <=2
y = 5300(x - 4) - 40000 x > 4 y = -10000x, 0 <= x <= 4


Graphing those is should be pretty easy to see the inversion and I don't feel like solving for them now.

 

[wdwdancerwannabe]

Since the don't mention interest I'm assuming they are just going for three straight lines. Having age being on the x-axis (0=high school graduation) and the y-axis is money. Then the lines are:

y = 2400x
y = 3500(x - 2) - 10000 x > 2 y = -5000x, 0 <= x <=2
y = 5300(x - 4) - 40000 x > 4 y = -10000x, 0 <= x <= 4


Graphing those is should be pretty easy to see the inversion and I don't feel like solving for them now.

OK...yeah, um - listen to Erikdared - cuz obviously he knows what he's talking about ---- I was trying to think of it logically.
That never gets us anywhere!!!!

 

[KathiWithAnI]

My Nephew did tell me later that she corrected the AGE word to be year, so no they don't have to worry about age of the person.

And you are right we assumed no interest on the loan_- Yeah, THAT'S real

We finally went out 25 years and determined the CC guy passes the HS guy's net worth in year 16, the Unver. guy passes HS guy in yr 22 and the Univ guy passes CC guy in year 25.... we then got our equations based on that info... I think we di ok.

Thank you to all who responded, you backed up our thoughts!!!
Kathi

 

[Papa Deuce]

Since the don't mention interest I'm assuming they are just going for three straight lines. Having age being on the x-axis (0=high school graduation) and the y-axis is money. Then the lines are:

y = 2400x
y = 3500(x - 2) - 10000 x > 2 y = -5000x, 0 <= x <=2
y = 5300(x - 4) - 40000 x > 4 y = -10000x, 0 <= x <= 4


Graphing those is should be pretty easy to see the inversion and I don't feel like solving for them now.

EXACTLY! only because I have no idea.

 

[1Prince2Princesses]

I have a 7th grader too.... doesn't their homework make you feel stupid sometimes?

 

[barkley]

but where is the variable that takes into consideration the time (now) it takes to achieve a community college/tech school grad to complete their program, and the time (now) it takes a university grad to to complete their program.

in california at least (as well as many other states) the norm is 5 years for a university grad (vs. the traditional 4 year norm) to complete a degree-whereas a tech school can do an incredibly consoldiated program that results in an 18 month completion (vs. the traditional norm of 2 years).

i know many people who have opted for tech/community college program over the university equivilent because the 'gen ed' units that qualify them them for a bachelors degree result in no difference in entry level or promotional salaries.

 

[GJM]

Boy I am going to be in big trouble when DS gets to 7th. grade. I couldn't even finish reading it all!

I'm doing lst. grade homework now - he just got his lst. book report to do.