Faith and Hope Are 30-Year-Old Identical Twins

question 28

Essay

Faith and Hope are 30-year-old identical twins.The only difference between them is their credit score.Faith has a proven record of repaying debts.Faith can borrow money at 4.5 percent.Hope has often missed debt payments.Hope can borrow at 8.5 percent.
They are considering enrolling in an evening MBA program.They plan on completing the program in two years.Assume the annual tuition is $16,000 for both years.They also anticipate that the nonmonetary costs of obtaining an MBA will be $40,000 per year.The twins anticipate that after graduation in two years,their earnings will be $10,000 per year higher until they retire at age 62.Should Faith enroll in the evening MBA program? Should Hope enroll in the evening MBA program?

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Definitions:

Insane

A term often used historically to describe individuals with mental illness or severe mental health conditions, now considered pejorative and replaced with more specific diagnoses.

American Law Institute

A leading independent organization in the United States producing scholarly work to clarify, modernize, and otherwise improve the law.

Emergency Commitment

A legal process through which individuals are institutionalized due to mental health crises that pose a danger to themselves or others, without their consent.

Days

Units of time equivalent to 24 hours, constituting the approximate period it takes for the Earth to complete one rotation on its axis.