Making Decisions. Consider the following situations, which each involve two options. Determine which option is less expensive. Are there unstated factors that might affect your decision?
If you stay in your home town, you can go to Concord College at a reduced tuition of $3000 per year and pay $800 per month in rent. Or you can leave home, go to Versalia College on a $10,000 scholarship (per year), pay $16,000 per year in tuition, and pay $350 per month to live in a dormitory. You will pay $2000 per year to travel back and forth from Versalia College. Assuming all other factors are equal, which is the less expensive choice on an annual (12-month) basis?
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