Anthony is about to graduate from high school. In deciding what he should do for

Question

Anthony is about to graduate from high school. In deciding what he should do for the next 14 years, he examines the two options before him: (1) Anthony can start working at a small neighborhood shop right after graduation and earn $12,000 per year for the next 14 years; (2) Anthony can attend a nearby college and earn a bachelors degree in four years. Tuition is $15,000 per year and Anthony knows he can get a job making $28,000 per year for the 10 years following his college graduation. Disregard the effects of discounting. Enter the exact numbers for your answers to the numerical entry questions. Scroll down to see all parts of the question. If Anthony decides to go to college, what is the total direct cost of earning his four-year degree? If Anthony decides to go to college, what is the total amount he will earn after graduating with his bachelors degree? If Anthony decides to start working right after high school, what is the total amount he will earn during the next 14 years?

Explanation / Answer

a) 4*$12000 = $48,000 (In direct cost of earning, college fee is not included)

b) 10*$28000 = $280,000

c) 14*$12000 = $168,000

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