Franklin is trying to decide whether or not to take a philosophy course next semester. He finds the topic interesting, but being a business student, he wants to measure the cost of taking the course. After detailed thought and analysis, he has identified the following items that he feels may be relevant to his decision:
Tuition fees for the course: $500
Textbook for the course: $200
Rent for his apartment: $5,000
Food for next semester: $3,200
Currently Franklin earns $2,000 per semester as a teaching assistant.
Franklin estimates that the philosophy course will require considerable study so he will have to reduce his teaching assistant hours by 25 percent. Determine the cost of taking the philosophy course.