Math 201 bryant and stratton

MATH201- Quantitative Reasoning

Portfolio Project Directions and Rubric

This Assessment is worth 15% of your grade

Outcomes

Completing this Assessment will help you to meet the following:

Course Outcomes

· Draw conclusions and/or make decisions through the application and analysis of mathematical models and assumptions utilizing Microsoft Excel software.

Institutional Outcomes

· Information Literacy and Communication - Utilize appropriate current technology and resources to locate and evaluate information needed to accomplish a goal, and then communicate findings in visual, written and/or oral formats.

· Relational Learning - Transfer knowledge, skills and behaviors acquired through formal and informal learning and life experiences to new situations.

· Thinking Abilities - Employ strategies for reflection on learning and practice in order to adjust learning processes for continual improvement.

· Quantitative and Scientific Reasoning - Follow established methods of inquiry and mathematical reasoning to form conclusions and make decisions.

Deadline Deliverable items for the Portfolio Project will be required at different points during the course. Details for each submission are included below. The timeline is as follows:

Deadline

Activity

Due by the end of Week 2 at 11:59 pm, ET.

Review Project Directions and Rubric

Participate in the Week 2 ‘Essential Questions’ Discussion

Due by the end of Week 3 at 11:59 pm, ET.

Submit Part 1 and 2 of the Student Loan Project

Due by the end of Week 4 at 11:59 pm, ET.

Submit Part 3 and 4 of the Student Loan Project

Due by the end of Week 5 at 11:59 pm, ET.

Submit Part 5 of the Student Loan Project

Due by the end of Week 6 at 11:59 pm, ET.

Submit Rough Draft of the Student Loan Project with Voice-Over Script

Due by the end of Week 7 at 11:59 pm, ET.

Final Portfolio Project Final w/ Voice-Over

Due by the end of Week 7.5 at 11:59 pm, ET.

Reflection

NOTE: there will be instructor feedback on each project submission listed above. You are encouraged to use the instructor feedback to improve submissions. This will help guide you in the right direction for future submissions.

Scenario

Each student in MATH201 is required to complete a quantitative reasoning project. The project that has been chosen for this course addresses the cost of repaying student loans.

Students pay for their education in a variety of ways. Some pay their tuition and other expenses out-of-pocket. Others receive assistance from their family. Employers sometimes contribute toward a student’s educational expenses. Some students receive grants or scholarships based on need or merit. Many—if not most—students, however, find it necessary to take out loans to help pay for all or part of the costs of their college education.

Student loan debt can create a serious burden for new graduates. It is important that students begin preparing themselves to meet the obligation of repaying their loans at the beginning of their college careers rather than waiting until graduation to think about this issue. This project is designed to start you thinking about how you will repay your student loans once you have graduated. You will produce your project in Microsoft PowerPoint and your project should be professional in appearance.

Deliverable Descriptions

Week 2

The Week 2 Essential Questions Portfolio Project Discussion will introduce the idea of Essential Questions. Since this may be a new concept or term for you, it is a good idea to familiarize yourself with what an Essential Question is and how you can create your own.

Formulate a response to these essential questions:

1. What events might interfere with your ability to repay your loans?

2. What should you do if you find you are having difficulty making your student loan payments?

Now you are to create 2 Essential Questions you think will help you focus the writing of your Portfolio Project.

· Briefly discuss how your questions will guide the development of your Portfolio Project.

Week 3

You will submit Part 1 of your Portfolio Project by creating your PowerPoint. Please include the following:

Title Page (Slide 1)

Include the course name, the project title and your name

Introduction (Slide 2)

Write a brief overview describing the purpose of the project (This project is designed to start you thinking about how you will repay your student loans once you have graduated.).

Hypothesis (Slide 3)

Define a hypothesis, which you intend to evaluate throughout your project. This step will help you to stay on track as your project develops, leading you ultimately to your conclusion. When creating your hypothesis, choose one of the following questions:

1) Will your student loan monthly payment fit into your budget?

2)

Will you be able to pay back your loan faster than the standard 10-year repayment plan?
Determine your expected salary after graduation from Bryant & Stratton (Slide 4)

For this slide, you can use the attached file as a guideline. Find at least two credible sources that provide estimates of starting salaries in your chosen field, preferably in the state where you hope to work. If the two sources provide markedly different salaries, conduct additional research until you find reasonably close agreements between two projected salaries (within $5,000 or so). Average the two salaries (add the salaries and divide by two) to determine your expected annual salary. Determine the monthly salary (divide the expected annual salary by 12). Then compute the net (after tax) pay. For simplicity we will use a 25% tax rate. Realize that taxes are complicated so this is just an estimate.

In Part 2 of your Portfolio Project, please add the following slides:

Create a budget based on your estimated salary (Slide 5)

Make it as realistic as possible so you are prepared upon graduation. Excel will make it easier for you. You can work in Excel and copy it to PowerPoint. Note that you will add the student loan payment later.

Consult Section 4.A in the textbook (pp. 186–192) for suggestions on creating a realistic budget or use the link below:
Estimate the total amount of your student loans at graduation (Slide 6)

Estimate your student loan obligation upon graduation from Bryant & Stratton College. You will need both the loan amount (principal) and interest rate for each loan.

Choose one of the following options for estimating your student loans. If you do not have any student loans, you must choose Option 2.

Option 1:

Although you should already know the amount of your loans for the current and past semesters, it would still be very beneficial to consult the Financial Aid Department to determine the amount you now owe and are likely to incur in the future. You will need both the principal of each loan and the interest rate associated with it. Keep in mind that interest rates may vary from loan to loan. Also remember to include student loans from other institutions you have attended. If you already know the amount of your loans for the current semester, you can make the assumption that your loans for subsequent semesters will be the same as for the current semester.

Week 4

In Part 3 of your Portfolio Project, you will determine the monthly payment required to repay your estimated student loan balances in the standard ten-year repayment period (Slide 7)

Use Excel to determine the minimum monthly payment you must make to repay your student loans in the standard 10-year term.

If you have multiple loans with the same interest rate, you can add the principals together and calculate a single monthly payment for them all.

If you have loans with different interest rates, you must calculate a separate payment for each loan. Add the monthly payments for the loans together to determine your total monthly loan payment.

Include the total monthly loan payment to your budget.

Discuss how this compares to your hypothetical monthly salary. Address the following questions: What percentage of your net monthly salary will go toward repaying your student loans? Does this seem to be a manageable amount?

In Part 4 of your Portfolio Project, you will determine the total cost (future value) and the amount of interest you will pay on your student loans (Slide 8)

Determine the future value of the loan(s) and the total interest paid with the 10-year term. This can be accomplished using Excel.

Discuss ways you might reduce the amount of interest you pay (Slide 9)

Investigate what happens when you repay a loan in less than ten years. Select one of your loans for this experiment. Using Excel, repeat the loan payment calculations three more times using three shorter terms, such as five, seven, and nine years. What happens to the monthly payment, future value, and amount of interest paid? Present your findings in table form.

Week 5

Part 5 of your Portfolio Project is your conclusion (Slide 10)

· Identify what your optimal monthly payment would be. Explain why this payment would be beneficial and realistic for you. Describe how your findings from this project relate to your hypothesis from step 1.

Week 6 Submit Rough Draft of the Student Loan Project with Voice Over Script This week you will be submitting a rough draft of your Student Loan Project for your classmates to review and provide feedback. Your instructor will also take this opportunity to provide feedback as well when grading this activity.

For your rough draft, make sure you have a detailed script for the voice over presentation. The script can be located in the notes sections of the PowerPoint slides.

The criteria for reviewing and providing feedback on uploaded presentations are:

1) Check for visual presentation.

2) Check notes section of slides and make sure that it describes slides and makes sense.

3) Check for grammar and punctuation.

Week 7

Final Submission of Student Loan Project with Voice Over

This week you will be submitting your finalized Student Loan Project with voice over to your ePortfolio. Make sure that you take instructor feedback, make adjustments, and submit your final project. Submit your Portfolio Project to the ePortfolio under Quantitative and Scientific Reasoning - Follow established methods of inquiry and mathematical reasoning to form conclusions and make decisions. For directions on how to create a PowerPoint with voiceover, refer to the Student Resources in Blackboard.

Oral Presentation Component:

· Student’s voice should be clear and easy to understand

· Student should vary his/her tone of voice and use pauses effectively to place emphasis on important points

· Student should provide additional insight to PowerPoint slides in his/her own words. Student should not read verbatim from the slides.

· Student should avoid non-words (“Um,” “Uh,” “You Know”) and practice using professional language

Week 7.5

Reflection

For the final piece of your Portfolio Project, you will reflect upon the course. This reflection will be delivered in a written format on a Microsoft Word document.

a) In your own words reflect on how this project meets the Institutional outcomes as stated on the first page.

b) Throughout your learning in this class, how would you approach this project differently & why? Explain your rational.

Upload and submit your final reflection.

MATH201 - Portfolio Project 7

For specific grading information, please refer to the Portfolio Project Grading Rubric.

MATH201 – Portfolio Project Grading Rubric

Criteria

Exceeds Expectations

Meets Expectations

Needs Improvement

Points

Comprehension

54-60 points

Student reflects on, in his/her own words, all main points from the week’s lectures, discussions,

activities, and assigned readings. When analyzing discussion, the student includes and builds on thoughts shared by classmates and instructor. Word count is more than 150 words.

42 – 53 points

Student reflects on, in his/her

own words, most main points

from the week’s lectures, discussion, activities, and

assigned readings. When

analyzing discussion, the

student includes thoughts

shared by classmates. Word

count is between 100 and 150

words.

0 – 41 points

Student attempts to reflect on

some points from the week’s

lectures, discussion, activities,

and assigned readings. When

analyzing discussion, the

student neglects to address

thoughts shared by classmates

or the instructor. Word count is

under 100 words.

Application

27 - 30 points

Student relates the week’s concepts to life, community, or career through explanation of how content can be applied to those settings.

21 – 26 points

Student attempts to relate the

week’s concepts to life,

community, or career in a

basic manner.

0 – 20 points

Student fails to relate the

week’s concepts to life,

community, or career. Student

is unable to explain how

concepts can be applied to other situations.

Mechanics

9 – 10 points

Student writes in complete

sentences and well-developed

paragraphs with zero or no errors in grammar, spelling, and punctuation. Student’s meaning is clear, and the reflection is easy to read.

7 – 8 points

Student writes in complete

sentences but makes two to

four errors in grammar,

spelling, and punctuation.

Reflection is generally easy to

read and understand.

0 – 6 points

Student writes in incomplete

sentences or uses list/bullet

format. Student makes five or

more errors in grammar,

spelling, and punctuation.

Errors distract the reader.

Writer’s meaning is unclear.

Instructor Comments:

Total Points:

MATH201 - What is a hypothesis?

The hypothesis is an educated, testable prediction about what will happen. Basically, your hypothesis should be based on an "educated guess", not on known data. Therefore, your hypothesis should be written before you begin your research; not after the fact. Reading your hypothesis should tell someone exactly what you thought was going to happen when you started your project. That is what will make this project interesting!

A good hypothesis is written in clear and simple language. Here is an example:

“After graduation, my monthly budget of $3,500 will be sufficient to pay my monthly student loan payment of $289.”

Estimated Net

Starting Salary Upon Graduation.docx

MATH201

ESTIMATED NET STARTING SALARY UPON GRADUATION

(due no later than end of week 3)

Student Name (print): ________________________________________________

Date: _____________________

Job title: ___________________________________________________________

State: _____________________________________________________________

Sources used to estimate salary (at least two):

Source 1: __________________________________________________________

Estimated starting salary 1: ____________________

Source 2: __________________________________________________________

Estimated starting salary 2: ____________________

Estimated starting annual salary (average of the two salaries above): ______________

Estimated starting monthly salary: ______________

Estimated net monthly salary (after taxes): ______________

Sample

Budget.docx

MATH201 – Sample Budget

Option 2 - Estimate

the total amount of your student loans at graduation.docx

MATH201 – Option 2 - Estimate the total amount of your student loans at graduation

With this option you will be given estimated student loan data (principal and interest rate) to use in completing your project. This estimate will be based on information taken from Bryant & Stratton College’s website on the median loan balance for students graduating from your program.

Keep in mind that the actual amount of money you borrow will probably be different from this estimate. Although you will be using this estimated data for your project, it would still be very beneficial to consult the Financial Aid Advisor to determine the amount you now owe and are likely to incur in the future.

Estimating Student

Loans.docx

MATH201 - Estimating Student Loans

Estimating Student Loans

Student loan information can be found at the Bryant & Stratton College website for students choosing Option 2 to estimate their student loans. The website lists median federal loan amounts for students graduating from the different programs. The following procedure describes how to access this information.

1. Go to https://www.bryantstratton.edu

2. Click on “DEGREES”,

3. Select “Consumer Information”.

4. Select the appropriate degree (e.g., “AAS Paralegal Studies).

5. The median federal student loan amount for graduates from this program is listed under “Financing”.

6. Note that this information is not available for the following programs:

AAS Electronic Technology

AAS Financial Support Services

AAS Health Services Administration

AAS Human and Social Services

AAS Interactive Media Design

AAS Occupational Therapy Assistant

AAS Physical Therapy Assistant

Median loan information is not available for these programs due to an insufficient number of graduates. Estimated loan amounts can be chosen from related programs. For instance, the loan data for Networking or Security Technology can be used for Electronic Technology, or the data for Accounting or Business could be used for Financial Support Services.

7. Keep in mind that an interest rate must be assigned for the estimated loan amount. The current (2016-2017) federal student loan interest rate is 3.76%. (https://studentaid.ed.gov/sa/types/loans/interest-rates).

Steps in Finding a

Student Loan Payment Using Excel.docx

MATH201 - Steps in Finding a Student Loan Payment Using Excel
Steps in Finding a Student Loan Payment Using Excel
Sample student loan of $10,000 for 5 years at 5% interest
Click on the link provided for the Excel Amortization template:

https://templates.office.com/en-us/Loan-amortization-schedule-TM10073881

1. Enter the loan amount (the principal). In this example, it is $10,000.

2. Enter the annual interest rate. In this example, it is .05.

3. Enter the loan period in years. In this example, it is 5.

4. Enter the number of payments per year. Enter 12 for monthly payments.

5. Enter start date of the loan. Use today’s date.

6. Leave “optional extra payments blank for now. This is something to play around with later to see how extra payments can help.

Here is what the results will look like.

7. The results below show the Monthly Payment (scheduled payment) and the Total Interest Paid. In the example:

Monthly Payment = $188.71

Total Interest Paid = $1322.74

8. Now calculate FV (Future Value) by adding the Total Interest Paid to the Loan Amount. In the example:

(See the next page for the results)

FV = $1322.74 + $10,000 = $11,322.74

What is a

hypothesis.docx