What is the present worth of his degree

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Reference no: EM131807602

Perry is a freshman. He estimates that the cost of tuition, books, room and board, transportation, and other incidentals will be $13,000this year. He expects these costs to rise about $1500 each year while he is in college. Ifitwilltake him 5 yearsto earn hisBS, what is the present cost of his degree at an interest rate of 6%? If he earns an extra $10,000 annually for40 years,what is the present worth of his degree? Contributed by Paul R. McCright, University of South Florida.

Reference no: EM131807602

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