Opportunity Cost: Carrie is 21. She took a short course which qualifies her to be an assistant at her local hospital. Right now she makes $20,000 a year working full time. She is trying to decide if she should go to nursing school, or just continue working. School is really expensive--$15,000 a year, which is not much less than what she is making. However, once she completes the 4 year program and is a nurse she will make $55,000 a year. Calculate her opportunity cost for both options over a 10 year period.

Using the next slide, fill in the table.

Choice #1 Go to College Year1 Year2 Year3 Year4 Year5 Year6 Year? Years Year9 Year TOTAL: 10 Carrie's Income LESS Cost of College Choice #2 Continue Working Year1 Year2 Year3 Year4 Year5 Year6 Year? Year8 YearQ Year TOTAL: 10 Carrie's Income