If you stay in-state you can attend college for $6000 let year, but pay $950 per month in rent. Or you can go out of state with a $12,000 scholarship that can be applied against an $18,000 tuition bill. Housing will cost $425 per month, and you will spend $2100 per year in travel expenses to visit home. Caculate the annual cost for each. Assuming all other factors are equal, which is less expensive choice?
If you stay in-state you can attend college for $6000 let year, but pay $950 per month in rent. Or you can go out of state with a $12,000 scholarship that can be applied against an $18,000 tuition bill. Housing will cost $425 per month, and you will spend $2100 per year in travel expenses to visit home. Caculate the annual cost for each. Assuming all other factors are equal, which is less expensive choice?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If you stay in-state you can attend college for $6000 let year, but pay $950 per month in rent. Or you can go out of state with a $12,000 scholarship that can be applied against an $18,000 tuition bill. Housing will cost $425 per month, and you will spend $2100 per year in travel expenses to visit home. Caculate the annual cost for each. Assuming all other factors are equal, which is less expensive choice?
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