Economics

2.) 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) (L=0). • Projected retirement age (R). • An iiterest / discount rate (r). • All direct schooling costs (B). • 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.