George is working at a job that pays $25,000 a year. He is contemplating getting a two-year degree.
The interest rate is 10%. a.If George retires 1 year after getting his degree, should he enroll? Show all work and explain.b.If George retires 5 years after getting his degree, should he enroll? Show all work and explain.3. Suppose that new discoveries in biochemistry significantly lengthen our life expectancy. What is the impact on the educational attainment of workers?