Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Can you help Sammy decide whether she want to switch job from Long Island to New York City? (a) (b) Sammy is a 50

image text in transcribed
1. Can you help Sammy decide whether she want to switch job from Long Island to New York City? (a) (b) Sammy is a 50 years old barista who currently works in a coffee shop at Stony Brook with $31], 000 dollar total earnings every year. Today she got a new offer to work in the New York City at a newly opened coffee shop as a manager who are promised to get 40, 000 dollar total earning per year. Assuming Sammy will continue working until 60 years old. The annual expense of living around Stony Brook is about $14, ODD, and $18, DOD for New York. If you were to decide for Sammy today. Do you think Sammy should move to New York and take the job? (Given the interest rate is 1%) If your answer is yes, then how much raise does the the coffee shop at Stony Brook should give to Sammy in order to keep her? If you answer is no, then how much money does the coffee at new york should increase in their offer in order to get Sammy to work for them

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Relations

Authors: Tom Kelleher

1st Edition

0190201479, 9780190201470

More Books

Students also viewed these Economics questions

Question

please dont use chat gpt AI 4 6 0 .

Answered: 1 week ago

Question

2. What types of information are we collecting?

Answered: 1 week ago

Question

5. How quickly can we manage to collect the information?

Answered: 1 week ago

Question

3. Tactical/strategic information.

Answered: 1 week ago