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1- Assume tuition is based on the number of credit hours up to a point of...

1- Assume tuition is based on the number of credit hours up to a point of being a full-time student. If a student takes 12 credit hours per semester and pays $18,000, then decides to take an additional 3 credit hour course, tuition cost is the same - $18,000. In this case, your marginal cost of taking the additional course is?

2- You invest $500 into an interest-bearing account with a nominal interest rate of 8%, compounded quarterly. In this case, the equation that you would use to determine the value of your investment in 5 years is?

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Answer #1

1) Marginal Cost of taking Additional Cost

= Cost / Number of additional hours

= $18,000/3 = $6000 is the answer to this question

2) Equation for value in five years

= Amount invested *(1+i/4)^4n

n = number of years , I= nominal interest rate compounded quarterly

= 500*(1+0.08/4)^4*5

= $742.97 is the answer to this question

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