Part 1: Career choice

Career choice 1: Nursing

Nursing is a highly respected profession that offers a wide range of career opportunities. To become a registered nurse in British Columbia, one must complete a four-year Bachelor of Science in Nursing degree from a recognized institution.

Career choice 2: Computer Science

Computer Science is a rapidly growing field that offers numerous job opportunities. To become a computer scientist, one must complete a Bachelor’s degree in Computer Science from a recognized institution.

Part 2: Cost of education

For nursing, the estimated cost of tuition for the four-year Bachelor of Science in Nursing program at the University of British Columbia is $7,425 per year. Adding 10% to this cost for books and other school needs results in an estimated cost of $8,167.50 per year. Assuming a 3% inflation rate for each year, the total cost for the four-year program is estimated to be $37,125.17.

For computer science, the estimated cost of tuition for a Bachelor’s degree in Computer Science at Simon Fraser University is $7,064 per year. Adding 10% to this cost for books and other school needs results in an estimated cost of $7,770.40 per year. Assuming a 3% inflation rate for each year, the total cost for the four-year program is estimated to be $34,351.98.

Part 3: Earnings to offset the cost of education

Assuming a part-time job paying the minimum wage of $15.65 per hour, working 12 hours per week for 40 weeks during the school year and 20 hours per week for 8 weeks during the summer, the total part-time work earnings over four years would be approximately $19,520. After contributing 30% of these earnings towards tuition costs, the reduced cost for nursing would be $24,006.62, and for computer science, it would be $23,046.38.

Part 4: Cost of a student loan

Assuming a 7% interest rate compounded monthly for a loan period of 5 years, the cost of a student loan for nursing would be approximately $44,691.68, and for computer science, it would be approximately $40,732.38.

Part 5: CC Self-Reflection

I can research and evaluate information from various sources.

Through this assignment, I have learned how to research and evaluate information from various sources, such as the Career Trek BC website and personal loan calculator. This skill will be helpful in my future academic and professional endeavors as it allows me to make informed decisions based on accurate and reliable information.

I can apply mathematical concepts to solve real-world problems.

By calculating the cost of education, potential earnings, and cost of a student loan, I have applied mathematical concepts to solve real-world problems. This skill will be useful in various aspects of my life, from budgeting to making financial decisions.

I can communicate effectively using written and oral formats.

Through writing this assignment, I have improved my ability to communicate effectively using written formats. I have organized my thoughts and presented my findings in a clear and concise manner. This skill will be valuable in my academic and professional pursuits, where effective communication is essential for success.