# Instructions 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

Instructions

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 a person who is only a high school graduate is \$33,500 (although this may not be accurate for Indiana residents). Use this value in comparison statements with proper absolute and relative change statements.

In this project you are required to do the following:

Create an Excel spreadsheet to help calculate the correct values for housing and retirement (this will be a graded part of the project). Ask your instructor if you need to use an Excel template. Refer to the Excel help in the book or notes in your course on how to find mortgage or retirement values. You will use the PV, FV, PMT formulas in Excel.

HINT: As you are writing your absolute or relative change sentence, make sure to address “more than” or “less than” what value. Writing sentences such as, “The absolute/relative change is…” will NOT be counted as correct. What is the meaning of an absolute or relative change in each scenario?

Example of a poorly written response:

I think that I could afford a \$50,000 car as a college graduate.

This response is not good. While a numerical response is given, the response does not indicate the student used their Excel spreadsheet, indicate what Excel function they used to determine that value, or explain what the values used in the Excel function represent.  The response does not meet minimum sentence or word count.

Example of a well written response:

I think that I could afford a \$50,000 car as a college graduate. I determined this using Excel and it is  based on the monthly gross income I determined earlier in the project and given the loan I obtained for 2.5% over the 5 year period we were directed to use for this part of the project.  The Excel formula I used to determine the \$50,000 amount was =EXCELfunction(number 1, number 2, number 3) where number 1 represents…, number 2 represents…, and number 3 represents…

Student provided a numerical value, provided the exact Excel function they used along with a detailed description of what each of the number values used in the Excel function represents. The response meets both the minimum sentence and word count.

Written response questions:

1. Answer the two following questions related to your median annual salary and that of the high school graduate:

• Explain what job you have chosen and what has inspired you to pursue a career in that field. Use the median salary from the following website: https://www.bls.gov/ooh (Links to an external site.).
• How does your salary compare to the high school graduate using BOTH an absolute change and relative change statement?

Car Loan

2. Assume you can afford to use 11% of your monthly gross income towards your monthly car payment. The terms of the loan are 3.25% APR for 6 years.

• What is the highest price car you can afford based on the information above? Be sure to show and explain the Excel formula you used.
• What is the highest priced car the high school graduate can afford based on the same information? Be sure to show and explain the Excel formula you used.
• Use an absolute or relative change statement to compare the highest priced car of the high school graduate and yourself.

Retirement Account

3. Assume that your selected job has a retirement plan and that you will be saving for retirement for 35 years.

• If 5% of your monthly income is put into a retirement account, how much should you expect if the average annual return is 7%? Be sure to show and explain the Excel formula you used.
• Using the same conditions, determine the amount a high school graduate should expect to have in their retirement account? Be sure to show and explain the Excel formula you used.
• Use an absolute or relative change statement to compare the retirement accounts of the high school graduate and yourself.

4. Assume you are saving for retirement with the same stipulations as before (5% of your monthly income at a rate of 7% for the account).

• Use the “Guess and Check” method with the Excel formula you used in Question 3 to determine how long would it take for your account to have just over \$1 million dollars? (Give your answer in whole number of years.)
• Use the “Guess and Check” method with the Excel formula you used in Question 3 to determine how long would it take a high school graduate to have just over \$1 million dollars? (Give your answer in whole number of years for this also.)
• Compare the amount of time taken to reach just over \$1 million for you and the high school graduate. Use an absolute change sentence to compare your answers.

Salary Increase

5. Your employer offers 2 options as an increase to your salary for the next year:

Option 1: You can have a 2.5% increase of your median annual salary.Option 2: You can take an increase of \$1150 added to your median annual salary.

• Find the new annual salary for both Option 1 and Option 2 for the college graduate. Show your calculations.
• Which option should you choose as a college graduate? Explain why using an absolute change or relative change statement in your response.
• Find the new annual salary for both Option 1 and Option 2 for the high school graduate. Show your calculations.

Which option should the high school graduate choose? Explain why using an absolute change or relative change statement in your response.

If you would like a paper copy of the directions, you can access the file below:

If you need help with Excel, check out the student guide below!

Elitewriterhelp.com is an online academic writing site that provides a variety of services to students and professionals in need of essay, dissertation, and research paper assistance. This website was founded by experienced writers and editors who understand the needs of today’s student community. With their help, students can get a well-written paper without having to worry about the quality or accuracy of their content.

Elitewriterhelp.com offers a wide range of services that are designed to meet the needs of any student or professional looking for some extra help with their academic work. From simple editing services to complete custom writing pieces, they have something for everyone! Their team consists of highly qualified writers and editors who have years of experience in both academia and industry sectors across all fields such as English literature, nursing sciences, medical science, engineering design & technology, accounting & finance etc., making them one of the best providers around when it comes to providing quality content writing services.

When it comes to their custom writing service, Elitewriterhelp.com provides everything from essays & dissertations to research papers & lab reports; all written according to your exact specifications & requirements so that you can be sure your professor will be impressed with what you submit! They also provide formatting help which includes APA/MLA/Chicago style formatting for those stuck on tedious details like citations or bibliography entries; perfect for those last-minute assignments!

For those looking for proofreading & editing services instead; Elitewriterhelp.com has you covered too! The team at this website offer professional copyediting which can check grammar errors and spellings mistakes while still preserving your original voice within the text; ensuring that whatever piece you submit looks great while still sounding exactly how you want it do sound! What’s more is if required they can also provide advice on how best to improve certain parts in order make sure your work meets the criteria set by your professors so no marks are lost due to minor mistakes made in hurry or ignorance.

Last but not least is Elitewriterhelp’s paraphrasing service which helps take care off any plagiarism risks associated with submission an assignment where quotes are used extensively taken from sources outside class materials (eBooks etc.). The team will ensure that anything being submitted sounds fresh while leaving out any potential legal issues plaguing people using other authors works without proper permission given first when appropriate credit isn’t given otherwise – definitely something worth investing into before submitting examples cited within studies found elsewhere apart from class material sources only mentioned once during seminars etc..

To sum up: Elitewriterhelp offers students access top-notch custom writing pieces as well as editing/proofreading packages for existing ones already written – perfect for double checking against silly grammatical errors / typos overlooked during initial composition stages meaning there’s always hope even when running short on time ahead up coming deadlines looming near after long lectures spent inside classrooms sat away from laptops used mainly taking notes by hand easily misplaceable later down line afterwards rendering past efforts worthless sadly…

Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

## Calculate the price of your order

Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

## Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.