Both phoebe and connor are trying to maximize their lifetime income. each has a different plan on how to do it best. phoebe claims that she wants a career with no college or trade school requirements because she could save the money for retirement rather than spending it on education. she estimates her average yearly salary at $35,000 a year with no post-secondary education requirements. connor claims post-secondary education will him get a career with a higher salary and more benefits he can use in retirement so the education costs will more than pay for themselves. connor estimates his average yearly salary at $60,000 after earning a college degree.
which statement about their claims is correct?
a. phoebe is correct because a college education is overly expensive and is almost a waste of money.
b. phoebe is correct because she might save $60,000 for not attending college and $140,000 by earning money while others are in college. the college graduates would never be able to make up that difference in earnings.
c. connor is correct because he is likely to earn a higher salary throughout his career. by earning by only $11,000 more in salary, he could make up the difference over the life of his career. he is also likely to have more employee benefits to save for his retirement.
d. connor is correct because a person without a college degree will never be able to support himself.