By Choosing to Attend College Today,you Have Agreed to Pay

question 113

Essay

By choosing to attend college today,you have agreed to pay $17,000 per year in tuition and fees for the next five years.(What… you really thought that you would graduate in four years?)In addition to the tuition and fees,you have also given up the ability to work full time and earn $23,000 per year for the next five years.If your required rate of return is 5% (the U.S.long-run average rate of inflation plus an average real rate of return),what is the total cost in today's dollars of your college degree,assuming that all of the aforementioned cash flows are ordinary annuities?

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Definitions:

Supreme Court

The Supreme Court is the highest judiciary authority in a country or jurisdiction, often having the final say in legal disputes and interpretations of law.

Binding Authority

Any source of law that a court must follow when deciding a case. Binding authorities include constitutions, statutes, and regulations that govern the issue being decided, as well as court decisions that are controlling precedents within the jurisdiction.

Constitutions

The foundational documents or set of principles that defines the nature, functions, and limits of a government.

Statutes

Laws established by a legislative body.