Robin is about to graduate with a degree in zoology and he has built up student...
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Robin is about to graduate with a degree in zoology and he has built up student debts that amount to P460,000. He is planning to take a two-year research placement studying warthog in Africa. He will be paid P100,000 per annum for the work. After the two years, Robin hopes to get a job as a research assistant that is likely to pay him P150,000 per annum but will allow him to study for his PhD at the same time. He hopes that the world Warthog Fund will fund his PhD and he expect to complete it in three years. Assume that RPI is 3% (RPI is the rate of interest apply to student loans as stipulated by the University) Required: 1. Estimate the amount of Robin's student debt five years after graduating. 2. Advice Robin as to whether he should be alarmed by the size of his student debt and whether he should take steps to reduce it voluntarily. Robin is about to graduate with a degree in zoology and he has built up student debts that amount to P460,000. He is planning to take a two-year research placement studying warthog in Africa. He will be paid P100,000 per annum for the work. After the two years, Robin hopes to get a job as a research assistant that is likely to pay him P150,000 per annum but will allow him to study for his PhD at the same time. He hopes that the world Warthog Fund will fund his PhD and he expect to complete it in three years. Assume that RPI is 3% (RPI is the rate of interest apply to student loans as stipulated by the University) Required: 1. Estimate the amount of Robin's student debt five years after graduating. 2. Advice Robin as to whether he should be alarmed by the size of his student debt and whether he should take steps to reduce it voluntarily.
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To estimate the amount of Robins student debt five years after graduating we need to consider the interest accrued on the debt during the twoyear rese... View the full answer
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Project Management The Managerial Process
ISBN: 9781260570434
8th Edition
Authors: Eric W Larson, Clifford F. Gray
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