3. Name two opportunity costs that would be considered in Jamie Lee’s situation?Jamie Lee Jackson, age 24, has recently decided to switch from attending college part-time to full-time in order to pursue her business degree, and she aims to graduate within the next three years. She has 55 credit hours remaining in order to earn her bachelor’s degree and knows that it will be a challenge to complete her course of study while still working part-time in the bakery department of a local grocery store, where she earns $390 a week. Jamie Lee wants to keep her part-time job at the grocery store as she loves baking and creates very decorative cakes. She dreams of opening her own cupcake café

within the next five years.

Jamie Lee currently shares a small apartment with a friend, and they split all of the associated living expenses, such as rent and utilities, although she would really like to eventually have a place of her own. Her car is still going strong, even though it is seven years old, and she has no plans to buy a new one any time soon. She is carrying a balance on her credit card and is making regular monthly payments of $50 with hopes of paying it off within a year. Jamie has also recently taken out a student loan to cover her educational costs and expenses. Jamie Lee just started depositing

$1,800 a year in a savings account that earns 2 percent interest in hopes of having the $9,000 down payment needed to start the cupcake café two years after graduation.

Current Financial Situation Checking account: $1,250 Emergency fund savings account: $3,100 Car: $4,000 Student loan: $5,400 Credit card balance: $400 Gross monthly salary: $2,125 Net monthly salary: $1,560