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Omar is working at a job that pays $18,000 a year. Omar is now working in a job that pays $18,000 per year. He is contemplating a one-year automobile mechanics course that costs $1,000 for books and tuition. Omar estimates that the course will increase his income to $23,000 in each of the three years following completion of the course. At the end of those three years, Omar plans to retire to a commune in Boulder, Colorado. The current interest rate is 10 percent. Is it economically rational for Omar to enroll in the course?

Omar is working at a job that pays $18,000 a year. Omar is now working in a job that pays $18,000 per year. He is contemplating a one-year automobile mechanics course that costs $1,000 for books and tuition. Omar estimates that the course will increase his income to $23,000 in each of the three years following completion of the course. At the end of those three years, Omar plans to retire to a commune in Boulder, Colorado. The current interest rate is 10 percent. Is it economically rational for Omar to enroll in the course?

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Omar is working at a job that pays $18,000 a year. Omar is now working in a job that pays $18,000 per year. He is contemplating a one-year automobile mechanics course that costs $1,000 for books and tuition. Omar estimates that the course will increase his income to $23,000 in each of the three years following completion of the course. At the end of those three years, Omar plans to retire to a commune in Boulder, Colorado. The current interest rate is 10 percent. Is it economically rational for Omar to enroll in the course?
Transcribed Image Text:Omar is working at a job that pays $18,000 a year. Omar is now working in a job that pays $18,000 per year. He is contemplating a one-year automobile mechanics course that costs $1,000 for books and tuition. Omar estimates that the course will increase his income to $23,000 in each of the three years following completion of the course. At the end of those three years, Omar plans to retire to a commune in Boulder, Colorado. The current interest rate is 10 percent. Is it economically rational for Omar to enroll in the course?
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