What is the opportunity cost of going to college this term?
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Suppose your expenses for summer school are as follows: tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term?
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- FinanceWhen you graduate from college, you apply for and are offered a job that pays $1,900 per month. You have a student loan debt of $14,000 with a 4% interest rate. Answer parts a) through e) below. a) What should your maximum rent be to keep your Front-End DTI Ratio no higher than 29%? $ 551 (Round to the nearest dollar as needed.) b) What should your maximum student loan payment be to maintain a 37% Back-End DTI Ratio? $ 152 (Round to the nearest dollar as needed.) c) Use technology to determine how long it will take to pay off the loan using the payment from part b). 110 month(s) (Round to the nearest whole number as needed.) d) You want to pay off the loan in a more reasonable amount of time, 72 months. Use technology to determine the amount that the loan payment needs to be to meet this goal. $ 219 (Round to the nearest dollar as needed.) e) If you increase the loan payment to the amount calculated in part d), what minimum income level do you need to maintain your present lifestyle…You're a graduate and the company that hires you offers a job that includes a paid apartment in Austin. You only need to pay for services and maintenance. You go ahead and make calculations and come up that each year you need to pay $36,000 to cover all expenses. Each year it sums up to $36,500 and every consequent year increasing by $500 through year 10. At an interest rate of 10% per year, the present worth of the maintenance costs are going to be how much?
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- You have an outstanding student loan with required payments of $825 per month for the 42 months. The interest rate on the loan is 9% APR (monthly). What is the amount of loan outstanding today? You are considering making an extra payment of $100 today (that is, you will pay an extra $100 that you are not required to pay). If you are required to continue to make payments of $825 per month until the loan is paid off, what is the amount of your final payment? "Amount of Loan outstanding is___________ ;Amount of final payment is_________ "After graduation, Charmaine have been offered an engineering job with a large company that has offices in Manila and Palawan. The salary is P350,000 per year at either location. Manila’s tax burden (state and local taxes) is 6.5% and Palawan is 4.07%. If you accept the position in Manila and stay with the company for 12 years, what is the FW of the tax savings? Your personal MARR is 10% per year.You decide to earn extra money during your Engineering program by running an uber service. You purchase a car for $60,000, which you expect to sell for $18,000 at the end of the 6-year degree. You expect annual costs for insurance, maintenance and other expenses to total $7000 per year. You project to have approximately 20 customers per shift, who you will drive 8km on average. You plan on driving 80 days each year. What is the levelized cost per km of driving? MARR = 6%. The answer is within 5 cents of which of the following? Question 11 options: 1.00 1.10 1.20 1.30 None of the above
- Your parents are giving you $100 a month for four years while you are in college. At a 6% annual discount rate, what are these payments worth to you when you first start college? (show steps, Answer: $4,258.03)Please help me determine the IRR of my MBA. The cost is $35,000. I am on scholarship so the degree has no cost to me out of pocket. I have not had to forgo any income over the 2 year program as I have done it part time. I have 16 years left to work, assuming that the increase in pay would be 15,000 per year for the remaining 16 years. Please let me know if you need any more details. Thank you.You are thinking of renovating a basement apartment beneath your house, which you currently rent out for $521 per month. If you renovate the apartment, you could get $729 per month instead, starting next month. Assume renovations would cost $10,000, paid immediately, and would take very little time to complete so there’d be no delay in rental income. Assume monthly rental income would last for the foreseeable future (aka forever). If the applicable discount rate is 6% per year, what is the net present value (NPV) of the renovations? Round to the nearest cent.
