As an lvy 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 a high school graduate is $20,000, use this value in comparison statements. 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. Your reflection paper should contain at least one statement comparing your expected salary with that of the median income of a high school graduate. 2) Housing Comparison: Assume that you and your high school graduate counterpart plan to spend 16% of your gross monthly income on house payments. Research the current fixed rate, 30 year, APR for mortgages and choose one that might fit your needs. Then use Excel to determine the largest value ofa mortgage that each of you can afford to borrow under those conditions Your reflection paper should contain at least one statement comparing the value of the house that a high school graduate can afford and that you expect to be able to afford. source you used to find mortgage rates ? Research housing costs in an area where you would like to live, will your future salary allow you to must you spend to get the house you want? Cite what source you used to find housing costs. Explain in your reflection paper what Excel function was used for these calculations. Cite what afford the house you want, or should you consider other housing options? How much more or less 3) Retirement Comparison : 401k investments are expected to earn a 5.99% annual return. Assume that 79 of gross monthly income is to be set aside for 401 k investment. Use Excel to determine the balance on such a 401 k after 40 years of investment for the high school graduate and for your expected income. Al use Excel to determine how many years it would take for the high school graduate and for your expecte investment to reach $500,000 Your reflection paper should contain at least one statement comparing the value of the 401k investment of the high school graduate and for your expected salary. D Explain in your reflection paper what Excel function was used for these caltulations Your reflection paper should contain at least one statement comparing the time it would take for the 401 k investment of the high school graduate and for your expected salary to reach $500,000. As an lvy 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 a high school graduate is $20,000, use this value in comparison statements. 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. Your reflection paper should contain at least one statement comparing your expected salary with that of the median income of a high school graduate. 2) Housing Comparison: Assume that you and your high school graduate counterpart plan to spend 16% of your gross monthly income on house payments. Research the current fixed rate, 30 year, APR for mortgages and choose one that might fit your needs. Then use Excel to determine the largest value ofa mortgage that each of you can afford to borrow under those conditions Your reflection paper should contain at least one statement comparing the value of the house that a high school graduate can afford and that you expect to be able to afford. source you used to find mortgage rates ? Research housing costs in an area where you would like to live, will your future salary allow you to must you spend to get the house you want? Cite what source you used to find housing costs. Explain in your reflection paper what Excel function was used for these calculations. Cite what afford the house you want, or should you consider other housing options? How much more or less 3) Retirement Comparison : 401k investments are expected to earn a 5.99% annual return. Assume that 79 of gross monthly income is to be set aside for 401 k investment. Use Excel to determine the balance on such a 401 k after 40 years of investment for the high school graduate and for your expected income. Al use Excel to determine how many years it would take for the high school graduate and for your expecte investment to reach $500,000 Your reflection paper should contain at least one statement comparing the value of the 401k investment of the high school graduate and for your expected salary. D Explain in your reflection paper what Excel function was used for these caltulations Your reflection paper should contain at least one statement comparing the time it would take for the 401 k investment of the high school graduate and for your expected salary to reach $500,000