Perry is a freshman. He estimates that the cost oftuition,

Chapter , Problem 4-79

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Perry is a freshman. He estimates that the cost oftuition, books, room and board, transportation, andotherincidentalswill be $13,000this year.He expectsthesecoststo rise about$1500eachyearwhile he is incollege.Ifitwilltakehim5yearstoearnhisBS,whatisthe presentcostof his degree atan interest rate of 6%?Ifheearnsanextra$10,000annuallyfor40years,whatis the presentworth ofhis degree?

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