Consider the following information regarding a person's decision to go to college college tuition is $20,000 per year, room and board is $10,000 per year, and books and materials are $2,000 per year. Suppose that instead of going to college this person could have camed $18,000 working in a store. An economist would calculate the cost of going to college O a $20,000 O b. $18,000 O c. 550,000 O d. $32,000. o e. $30,000

$50,000

Explanation:

The computation of the cost of going the college is shown below:

= College tuition fees per year + boarding fees per year + books and materials charges per year + earnings while working

= $20,000 + $10,000 + $2,000 + $18,000

= $50,000

For computing the cost of going to the college we simply added the total cost that is mentioned in the question so that the accurate amount could come

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

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