64. A study by the New York Federal Reserve Bank concludes that an engineering bachelors degree generates

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64. A study by the New York Federal Reserve Bank concludes that an engineering bachelor’s degree generates approximately a 18% return on investment over the course of a decade. Suppose the typical engineering student spends $20,000 per year for four years on his/her education. What extra annual return (in dollars) does the typical student realize during the 15 years following graduation? State your assumptions. (4.10)

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Engineering Economy

ISBN: 9781292265001

17th Global Edition

Authors: William G. Sullivan ,Elin M. Wicks ,C. Patrick Koelling

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