Find what if the discount rate is 12 percent

Reference no: EM13238167

Suppose Carl's wage-schooling locus is given by

Years of Schooling Earnings
9 $18,500
10 $20,350
11 $22,000
12 $23,100
13 $23,900
14 $24,000

Derive the marginal rate of return schedule. When will Carl quit school if his discount rate is 4 percent? What if the discount rate is 12 percent?

Reference no: EM13238167

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