Introduction
I always loved working with numbers since I was a child. I remember a time in high school when the principal punished me for getting A in math and F in English. It was a devastating experience, but I later came to admit that I was wrong. I was spending 99% of my time trying out new and more complex evaluations. Therefore, when time to choose university came, I had no doubt that I wanted to study a math related course. I just was not sure which course exactly would fit my taste. At some point, Grandmother came to live with us. I used to spend a lot of time with her since she liked me and would tell me funny stories. That is when I learnt that my late grandfather had been a math genius. There was a time he worked as an investment banker at Wall Street, and I loved the idea.
Cost Analysis
I wanted to go to the best University where they could train me to become an investment banker. Unfortunately, my parents could not afford University fees at Harvard or Yale. Therefore, I had to do with a scholarship. My frantic search for a University led me to draw up the structure of how much I was looking to collect University fee. Consequently, I would have to take an education loan, which was easy to find at 1% per month from the bank. I already had a bank account as my dad had opened for me one back in high school to teach me how to save. I ran through the streets to find the books that I would need to join a sophomore as most them were unavailable online, they would cost me a whopping $100. My parents would take care of that expense plus the upkeep cost for the first few weeks before I landed a job. The table below shows the analysis of all the costs that the University fund would cover to join University.
Research on Investment Banker
I had to think about how I would pay the loan after University. The fundamental idea that surfaced to mind was that I wanted to become an investment banker at Wall Street like my late grandfather. The job market has flooded with financial analysts from all over; therefore, I knew I had to show exceptional talent in math. In any case, if my plan worked out well, I would start off with an annual income of $200,000 without allowances. Also, I figured that I could do some business on the side while still a banker to boost my finances.
Payback Period
I came to University having done all the calculations, including the payback period for my loan. So far everything has turned out the way I planned. I am particularly excited because I am doing very well in my grades, scoring A’s in every subject. Therefore, I am optimistic that my plans to pay back the University fund and start to invest in different portfolios ( I will become an investment banker, after all, I might as well put my money where I advise others to put it). Also, I landed a job sometime in sophomore to help me with the upkeep. At least my parents no longer have to buy books for me, I can do that comfortably. The tables below show the tradeoff between the cost of education and the expected return on investment, the criteria through which I made the decision to join University.
The table below shows the total cost of University education for four years.
The ensuing table portrays the projected income and expenditure statement for the first five years after landing job at Wall Street
The table is an illustration of the payment schedule for the education loan. I plan to pay $ 10,000 annually. It will take me five years to pay back the loan.
References
Caicedo, M. H., Mårtensson, M., & Roslender, R. (2010). Managing and measuring employee health and well-being: a review and critique. Journal of Accounting & Organizational Change, 436-559.
Butcher, K., G. H., J. M., & P. R. (2011). Auditor appointment in compulsory audit tendering. Accounting Research Journal, Vol. 24 Iss: 2, 104 - 149.
Ho, L.‐C. J., C.‐S. L., & J. T. (2008). Further evidence on financial analysts' reaction to enterprise resource planning implementation announcements. Review of Accounting and Finance, Vol. 7 Iss: 3, 213 - 235.
