Your Dad left you a very nice bike, built in Asia (usually Japan by Panasonic) for Schwinn. It was designed by the Paramount group in Waterford, WI. The "Series" Paramounts were more affordable then the US built Paramounts. Nonetheless, they were very nice bikes.
There should be a serial number, most likely under the BB, or on the headtube under the "P." Post that number and it will help us to decipher the date. Generally they are from the late '80s through early '90s.
Welcome to C&V and don't hesitate to ask questions!
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Bob
Enjoying the GA coast all year long!
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www.freewheelspa.com