# The Importance Of Investment In Education

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Assuming that I could get a job right after I graduated from UNC, I would start my career at age 21 and plan to retire at age 66.

First of all, I would like to calculate my college expenses. I transferred from Tacoma Community College in Washington State and spent my first two years of college life over there. The reason that I chose to attend college for the first two years instead of direct enroll in universities is because the tuition for college is much cheaper than university especially for international students. Tacoma Community College is quarterly based, and international students are required to take a minimum of 15 credits per quarter. I attend Tacoma Community College in September 2012 and finished my schooling in June 2014 with a total of 6 quarters and no summer schools taken. Each quarter I took three classes and each worth 5 credits. According to the TCC international student tuition rates, each quarter I paid 3110.50 dollars as tuition. The costs for books are not cheap in the USA. Normally, I would spend an average of 200 dollars on renting books each quarter. Besides tuition, all TCC international students are required

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To calculate non-college earning, we need to find the annual earnings for employees with high school degree and the annual earning increasing rate. According to my research, median annual earnings for employees with high school credential were $30,000 (). With an annual average percent growth in inflation-adjusted earnings from ages 18 to 24 is 5.5%, 3.0% for ages from 25 to 29, 2.3% for ages from 30 to 34, 2.9% for ages from 35 to 39, 0.5% for ages from 40 to 48, and no yearly increase rate above age 49 (). Therefore, we could get the non-college earing by using the formula: En+1=En*(1+r). For the first four years of college earnings, it would be negative, since we need to pay for our tuitions. Starting from the fifth year, we will be paid at $53,604 as starting salary for math major undergraduate students. The annual average percent growth in inflation-adjusted earnings would be higher with a college degree, 9.8% for ages from 18 to 24, 7.5% for ages from 25 to 29, 5.9% for ages from 30 to 34, 4.5% for ages from 35 to 39, 1.5% for ages from 40 to 48, and no yearly increase rate above age 49 (). Similarly, we could also calculate the college earnings. Subtracting non-college earnings from college earnings, we could get net earnings with college degree. Finally, we could calculate the internal rate of return from the data we just calculated and get