Explain how the age$-$earnings profile can influence an individual's decision regarding the level of Human capital $($i$.$e$.,$ education$)$ investment.

Distinguish between the general and specific on$-$the$-$job training. Who normally pays for the general training? Specific training? Why the difference?

Suppose Melinda is considering taking a webmaster training program that involves direct costs of $$6,000$ and forgone earnings of $$5,000.$ The training program will increase Melinda's earnings by $$2,000,$$$3,500,$ and $$6,000$ for the $3$ years she plans on working. She can borrow the funds at an interest rate of $8\%.$ What is the net present value $($NPV$)$ of this training program? Should Melinda take the training program? $[2$ points$]$