Suppose college education raises a person's wage by $30,000 per year, from $40,000 to $70,000. Assume that the interest rate is 3 percent and there is no growth in wages. Suppose you are a high school senior and are deciding whether or not to go to college. Find the PDV of earnings in the following cases. Also, assume that the work time is still 45 years, adding up to a 49-year non-college work career. a) What is the PDV of your labor income if you do not go to college and start working immediately?

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

watch how they communicate and watch how they handle their free time

hope it !

answer; be sure that the information on file is correct;

answerattainable;