QUESTION : EXPLAIN AND ALSO CREATE A GRAPH

1. Choose a profession. just choose something.
2. Research the annual starting salary for this position. What do you expect to make in five, ten, twenty and forty years?
3. Buy a home. Yes, I know you will rent, but for this assignment, buy a home. Obviously, the home you buy is based on the profession you choose.
   • Provide the total cost of the home.
   • Provide whether you plan to finance for fifteen (15) or thirty (30 years). You typically have a lower interest rate when you finance for 15 years, but your monthly payment is higher.
   • You have three finance rates: 2.99, 5.99, 8.99 percent. You will need to provide the following for all three rates:
     • Monthly mortgage
     • Total cost of the loan due to different rates
4. Make a budget. Include money allocated to savings, monthly mortgage, home & insurance, car loan, student loan, food, entertainment, etc. The more thorough you are, the more points you will get for this. Subtract your expenses from your monthly income. If you are in the red, you are spending more than you are taking in - just like our government. every dollar and cent should be accounted for; if that sounds like Dave Ramsey, you are correct
5. Estimate how much you will pay in taxes five, ten, twenty, and forty years into your career. Consider the following
   • Property Taxes
   • Taxes to the IRS
6. Plan for retirement: How much money will you allocate at age 25, 35, 45, 55
   • What kind of rate return do you expect to get on your investments?
   • How much money do you think you need for retirement?

REQUIRED: EXPLAIN AND ALSO CREATE A GRAPH