Taking a Course in Computer Repair Will Increase an Individual's

question 35

Multiple Choice

Taking a course in computer repair will increase an individual's yearly income by $10,000 per year,starting the year after the course is completed.After three years,the skills learned will be obsolete.What is the present value of taking the course if the interest rate is 8 percent (0.08) per year?

• A)$1,248.29
• B)$10,356.65
• C)$25,770.97
• D)$30,000.00
• E)none of the above

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Definitions:

Shortage

The amount by which the quantity demanded of a product exceeds the quantity supplied at a particular (below-equilibrium) price.

Market

Any institution or mechanism that brings together buyers (demanders) and sellers (suppliers) of a particular good or service.

Majority Voting

A decision-making process where the choice that gathers more than half of the votes wins, commonly used in democratic elections and organizations.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.