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A degree program costs $50,000 in total expenses: $30,000 in tuition and $20,000 in housing and books. The US Government provides a grant for $10,000 of the tuition. Moreover, the university pays $20,000 of the $30,000 tuition in salary to your instructors. Being in the program is so much fun; you would be willing to pay a net of $5000, for the pleasure, relative to your alternatives. What is the net cost of the education to you?
Solve the problem and write a 50-100 word response explaining the results you obtained for the selected question.

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Solution Summary

This solution calculates the net cost of an education based on the amounts given. An explanation is also given explaining the results. It is shown exactly how the net cost was obtained.

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30,000 + 20,000 = 50,000 - 10,000 = 40,000 - 20,000 = 20,000 - 5,000 = 15,000 net cost.

The net cost would be ...

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