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What is the present worth of his degree

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Question: 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,whatis the present cost of his degree at an interest rate of 6%? Ifhe earns an extra $10,000 annually for40 years, what is the present worth of his degree?

Reference no: EM132157900

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