Calculate the present values of your lifetime earnings over two different career paths: one where you accept an “average job” and one where you pursue your “dream job”. The parameters that need to be customized to fit each of your career paths, include: ￼￼￼• Starting age (enter UA) (t＝0). • Projected retirement age (R). • An interest / discount rate (r). • All direct schooling costs (H). • Occupation and industry. • Annual earnings (w) (for your completed level of schooling). • Changes in earnings over time (due to on-the-job training). • Work promotion / relocation. With your calculations on 1 page (spreadsheet preferred), briefly explain on 2 pages (typed preferred) the source of each parameter value, any assumptions being made, and why your parameters are the same or different between your career paths. Your answers will be graded on their completeness and their originality. (50 points)
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