Floyd is now working in a job that pays $18,000 per year. He is contemplating a one-year
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Floyd is now working in a job that pays $18,000 per year. He is contemplating a one-year automobile mechanics course that costs $1,000 for books and tuition. Floyd estimates that the course will increase his income to $23,000 in each of the three years following completion of the course. At the end of those three years, Floyd plans to retire to a commune in Boulder, Colorado. The current interest rate is 10 percent. Is it economically rational for Floyd to enroll in the course?
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It is economically ratio...View the full answer
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Related Book For 
Contemporary Labor Economics
ISBN: 978-1259290602
11th Edition
Authors: Campbell R. McConnell, Stanley L. Brue, David Macpherson
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