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KATRIN_1 [288]
3 years ago
9

Andrew quits his job as an accountant where he earns $60,000 per year to go back to school for two years to get an mba degree. h

e attends a school that charges $25,000 per year for tuition and related expenses. how much is the total cost (explicit cost plus opportunity cost) of that degree?
Business
2 answers:
Afina-wow [57]3 years ago
7 0

Answer:

Total cost = $ 50000+ $120000= $170000

Explanation:

For this case we know that the tuiton fee given $25000/year

Since he go back to school for two years the total explicit cost is given by:

Total explicit cost = $25000/year *2years = $50000

Since Andrew quits his job that represent an implicit cost that is given by:

Implicit Cost or Opportunity cost= $60000/year *2 years= $120000

And then we can find the total cost with this formula:

Total cost = Explicit cost + Opportunity cost

Total cost = $ 50000+ $120000= $170000

lidiya [134]3 years ago
4 0
Andrew is giving up $120,000.00 by quitting his job for 2 years and the cost for the degree is 25,000 per year so its costing him $170,000.00 for the degree.
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you plan to deposit $1,500 quarterly for 35 years at 7% interest, compounded monthly. how much will you have in the account in 3
VikaD [51]

After 35 years, you will have $911,053.82 in the account.

This is based on a quarterly deposit of $1,500 per year for a period of 35 years at 7% interest, monthly compounded.

Data and Calculations:

Quarterly Deposit = $1,500

Number of years = 35 years

N (# of periods) = 140 (35 x 4)

I/Y (Interest per year) = 7% (0.583% per month)

PV (Present Value)  = 0

Quarterly PMT (Periodic Payment) =  1500

P/Y (# of periods per year) = 4

C/Y (# of times interest compound per year) = 12

PMT made at the of each period

Results:

Future Value = $911,053.82

Sum of all periodic payments = $210,000.00 ($1,500 x 140)

Total Interest = $701,053.82 ($911,053.82 - $210,000)

Thus, after 35 years, the account will have a balance of $911,053.82.

Learn more: brainly.com/question/17028320

7 0
2 years ago
In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc
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Answer: $28,000

Explanation:

Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

The total deduction Jonathan can claim is therefore:

= Real estate taxes + Capped state income tax

= 18,000 + 10,000

= $28,000

6 0
3 years ago
Dave's Scooters is a small manufacturer of specialty scooters. The company employs 14 production workers and four administrative
katrin [286]

Answer:

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3 0
2 years ago
After cost overruns of the solar project, $10 million was already spent and unrecoverable. It was going to cost $12 million more
Brrunno [24]

Answer:

a. continue with the project provided that the additional solar electricity is worth more than $10 million.

Explanation:

It is provided that after cost overruns of the project is $10 million, which can never be recovered, thus, it is a kind of sunk cost.

Sunk cost is the cost which is made previously, and now in no manner will affect the decision, as cannot be recovered.

Therefore, such cost is ignored.

Further provided additional cost will be $12 million, therefore, now the society shall make a rational choice whether to continue the project providing solar electricity of $10 million, as in case of amount of solar energy is $32 million or $22 million, then the choice is obvious to accept,

Rational choice will be for solar electricity worth $10 million.

Therefore, correct statement is

a. continue with the project provided that the additional solar electricity is worth more than $10 million.

4 0
3 years ago
Banks are a stabilizing force in our entire financial system. Discuss two of the three primary function of the banking system.
Illusion [34]

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Explanation: Those are two primary functions.

7 0
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