5. After graduating from high school, Individual K decided to enroll in a four-year university program rather than accept a job which offers $13,000 a year.If the annual tuition fee is $5,600, what is Individual K's annual opportunity cost for attending university?
Answers
Answer:
Because you chose to go to college instead of working, your opportunity cost is actually the sum of your college expenses plus the money you could have earned had you chosen not to work. Your opportunity cost to attend college is $260k.
What are the benefits of attending a four-year college?
You'll be educated in a wide variety of subjects through general education requirements. ...
There are more majors for you to pick from. ...
There are loads of extracurricular options. ...
You'll get the traditional college experience.
College graduates earn more throughout their careers.
expect to earn about 66% more during a 40-year working life than the typical high school graduate earns over the same period.Besides tuition and fees, students have to pay for housing, food, books and supplies. They also have to cover any additional college fees and other living expenses, such as transportation costs.
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