Remy works at a small shop and earns $15.293 a year. She enrolled and was accepted in a university. To focus on herschoolwork, she quit her job. Her annual expenses during her undergraduate education are $12,718 for tuition, $1,118 forbooks, and $5,644 for food. She spends the same on food as before she went to college. Assuming that the given values are inconstant dollars, what is her real opportunity cost of attending college for 3 years? Round your answer to the nearest twodecimal place and remove the dollar sign.

Opportunity cost is the potential earning from one alternative when individual chooses another over…

Answered: Remy works at a small shop and earns…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calli is 25 and a recent graduate of MSU. She completed HDFS 238 her senior year and realized there is a lot she hasn’t paid attention to around money. She just got a job and has moved to Battle Creek. She received a signing bonus that she has used to start a savings account. Her gross annual salary is $52,000; gross monthly salary is: $4,333 and her net monthly salary is $3,200. What is the overall balance of Cali's tangible assets? Here’s her situation: Assets: Car $ 2,000 Checking Account/Savings Acct $ 3,000 Grandma’s Diamond Ring $ 2,000 Cash $ 500 Liabilities: Car Loan Balance $4,000 Credit Card Balance $11,000 Student Loan Balance $15,000 Monthly Expenses: Rent $1000 Car Loan Payment $200 Food $200 Utilities…
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