Homework Help: Economics

Posted by Kira on Sunday, November 6, 2011 at 9:36pm.

You are considering quitting work for two years to earn an MBA. Your current job pays $25,000 per year (after taxes), but you
could earn $55,000 per year (after taxes) if you had a MBA at Southern University. Tuition is $10,000 per year and the cost of an
apartment near campus is equal to the $8,000 per year you are currently paying. The relevant discount rate is 7 percent per year.
You just turned 52 and plans to retire when you turn 60, whether or not you get your MBA. Based on this information, justify
your planned MBA at Southern University.

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