Estimate the cost of the tution

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Perry is a freshman, he estimates that the cost of tuition, books, room and board, transportation, and other incidentals will be $30000 this year. He expects these costs to rise about $1500 each year while he is in college. If it will take him 5 years to earn his BS, what is the present cost of his degree at an interest rate of 6%? If he earns and extra $10000 annually for 40 years, what is the present worth of his degree.?

Reference no: EM13177708

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