Theodore is considering a 1-year training program, which charges $20,000 in tuition, to learn how to install
Question:
Theodore is considering a 1-year training program, which charges $20,000 in tuition, to learn how to install airport-screening equipment. If he enrolls in the program, his opportunity cost in forgone income is the $100,000 per year he can now earn. After completing the program, he is promised a job for 5 years, with a yearly salary of
$130,000. (After 5 years, the equipment is expected to be obsolete, but Theodore plans to retire at that time anyway.)
Assume Theodore’s personal discount rate is 5 percent. Should Theodore enroll in the program? Why? (Show your calculations.)
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Present Value B 1r B 1r B31r B1r4 B51r5 200...View the full answer
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Related Book For 
Modern Labor Economics Theory And Public Policy
ISBN: 9780132540643
11th Edition
Authors: Ronald Ehrenberg, Robert Smith
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