Some studies have shown that taller men tend to earn higher salaries than equally qualified men of shorter stature. Homotrope growth hormone can increase a child’s height at a cost of $50,000 per inch. Clyde’s parents wanted him to be 3" taller than he was projected to be. They paid $50,000 per year for the treatments for three years beginning on their son’s 8th birthday. How much extra money would Clyde have to earn per year from his 26th through 60th birthdays (a total of 35 years) in order to justify their expenditure? Use i = 8% per year.
Some studies have shown that taller men tend to earn higher salaries than equally qualified men of shorter stature. Homotrope growth hormone can increase a child’s height at a cost of $50,000 per inch. Clyde’s parents wanted him to be 3" taller than he was projected to be. They paid $50,000 per year for the treatments for three years beginning on their son’s 8th birthday. How much extra money would Clyde have to earn per year from his 26th through 60th birthdays (a total of 35 years) in order to justify their expenditure? Use i = 8% per year.
Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation
Section: Chapter Questions
Problem 76TPC
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Some studies have shown that taller men tend to earn higher salaries than equally qualified men of shorter stature. Homotrope growth hormone can increase a child’s height at a cost of $50,000 per inch. Clyde’s parents wanted him to be 3" taller than he was projected to be. They paid $50,000 per year for the treatments for three years beginning on their son’s 8th birthday. How much extra money would Clyde have to earn per year from his 26th through 60th birthdays (a total of 35 years) in order to justify their expenditure? Use i = 8% per year.
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