As an Ivy Tech student, you are making an investment in your education. This project will look at how that investment will pay off if you graduate and get a job in your desired field. You will be comparing your future finances with someone who is not a college graduate. Assume that the median annual income for an unskilled worker is $20,000. Each section of the project asks you to compare your future values to the unskilled worker. You should make use of absolute and relative change in some of the comparison statements in your paper. 1) Income Comparison: Research your expected income after you graduate. Assume you obtain whatever level of education needed to enter your desired area of employment. We recommend using the annual Median salary found at: http://www.bls.gov/oes/current/oes_in.htm#27-0000 *You will need to click on your desired career in order to see the Annual Median wage. If using a different source, you must cite it. Your reflection paper should explain what your desired area of employment is and what the median annual salary for that position is. Explain why you chose this field. Your reflection paper should contain at least one statement comparing your expected salary with that of the unskilled worker. Remember that absolute and relative change statements are an excellent way to compare values. 2) Loan Comparison (choose vehicle or house): With your post-graduation income, you can afford to either purchase a home or buy a vehicle. You can either spend 1/5th of your gross monthly income on house payments, or 1/10th of your monthly income on a car payment. Research the current fixed rate APR for loans for a length of your choice and use Excel to determine either the largest value of a house mortgage or car loan that you can afford to borrow under those conditions. If your unskilled worker counterpart spends the same portion of their income using the same loan, what can they borrow? Your reflection paper should contain at least one statement comparing the value of the house or vehicle that the unskilled worker can afford compared to what you can expect to afford. Explain in your reflection paper how Excel was used for these calculations. Cite what source you used to find loan rates. Research either available houses where you would like to live, or a vehicle you would like to purchase. Are you able to find a house or vehicle in your price range? Cite what source you used to find housing or vehicle costs. 3) Retirement Comparison: It is wise to set aside 7.5% of gross monthly income for 401 k investment. Assume the investment earns a 5% annual return and use Excel to determine the balance after 40 years for the unskilled worker and for your expected income. Then use Excel to determine how many years it would take for the unskilled worker and for your expected investment to reach $500,000. Your reflection paper should contain at least one statement comparing the value of the 401 k investment of the unskilled worker and for your expected salary. Explain in your reflection paper how Excel was used for these calculations.

Your reflection paper should contain at least one statement comparing the time it would take for the 401 k investment of the unskilled worker and for your expected salary to reach $500,000.