The my college is more expensive than your college thread...

Live forum: http://forum.freeipodguide.com/viewtopic.php?t=78481

Powerbook

22-02-2009 17:57:02

I figured out the finance problems, I think.

gafdpc

22-02-2009 18:08:52

I'm pretty decent at it.

ilanbg

22-02-2009 19:27:25

Post it here, I want to see the examples.

Powerbook

22-02-2009 20:02:23

[b0d53778f15]SOLVED
[/b0d53778f15]



EDIT I realize the wording is off, this is how they simply are. For the first one I guess the working capital investment is annual? Who knows, that how I am taking it.

ilanbg

22-02-2009 21:28:20

[Note I have never taken a finance class, but I'm still pretty sure the math is right.]

ATM question
Total cost of a teller for 6 years is
19000+19950+20947.5+21994.86+23094.69+24249.35 [cost of salary + 5% per year for 6 years] = $129,236.4

The initial cost of the ATM (including cost of capital) is $118,800. Maintenance for 6 years is
2600+2860+3146+3460.6+3806.66+4187.33 [cost of maintenance + 10% per year for 6 years] = 20,060.59
Total cost of ATM is initial cost plus maintenance = $138,860.59

The bank would [ifdfb67207e]seem[/ifdfb67207e] to choose to keep the [bfdfb67207e]teller[/bfdfb67207e] since the teller is less expensive, but the word problem fails to include the fact that the teller will keep earning a raise for longer than 6 years, whereas the price of an ATM will, if anything, drop as time progresses. Not to mention inflation over the next 6 years is going to save the bank like $2,000 while it pays back that loan at a constant rate.

On the other hand, the teller will probably keep her savings at the bank she works at, which allows the bank (assuming she saves 20% of her income) to loan out an additional $25,847. If the bank makes a 6% return on that loan it earns $1,550 while paying the teller an interest of 2% ($516), making the [ifdfb67207e]true[/ifdfb67207e] cost of the teller $1,000 less.

So... probably still the teller. But include that part, it will make your TA cum her panties.

akalic

22-02-2009 23:45:00

On a side note, damn tellers make less than 20k? My mom works at a bank and she tells me of arts student who have gotten their BAs and work full time as tellers..

that's pretty depressing

Powerbook

23-02-2009 04:06:06

I was getting something similar but there is probably more to it

CollidgeGraduit

23-02-2009 06:19:09

[quote01774683b2="akalic"]On a side note, damn tellers make less than 20k? My mom works at a bank and she tells me of arts student who have gotten their BAs and work full time as tellers..

that's pretty depressing[/quote01774683b2]

Story problems normally just use arbitrary numbers..

tylerc

23-02-2009 07:45:26

[quotece32b08a0a="akalic"]On a side note, damn tellers make less than 20k? My mom works at a bank and she tells me of arts student who have gotten their BAs and work full time as tellers..

that's pretty depressing[/quotece32b08a0a]

Consider the skills/education is takes to be a bank teller. It's not much.

EatChex89

23-02-2009 12:29:54

[quote64a1a762b8="CollidgeGraduit"][quote64a1a762b8="akalic"]On a side note, damn tellers make less than 20k? My mom works at a bank and she tells me of arts student who have gotten their BAs and work full time as tellers..

that's pretty depressing[/quote64a1a762b8]

Story problems normally just use arbitrary numbers..[/quote64a1a762b8]

Well, I am working at a grocery store making about 18k and am paying for my BA degree plus rent/utilites plus phone plus insurance plus gas, etc etc.

So even with a 20k salary it is possible.

Powerbook

23-02-2009 12:37:42

I figured out the answers. The first one my working capital inflows and outflows were off. The second one I needed to use EAC analysis even though it is clearly obvious the teller is less expensive. Since everyone else is going off topic, tellers get paid what they do because of the skill set that they need to have as well as the conditions that they are under. It has always been a low paying job.

TFOAF

23-02-2009 13:41:38

[quote6f318d68c2="EatChex89"][quote6f318d68c2="CollidgeGraduit"][quote6f318d68c2="akalic"]On a side note, damn tellers make less than 20k? My mom works at a bank and she tells me of arts student who have gotten their BAs and work full time as tellers..

that's pretty depressing[/quote6f318d68c2]

Story problems normally just use arbitrary numbers..[/quote6f318d68c2]

Well, I am working at a grocery store making about 18k and am paying for my BA degree plus rent/utilites plus phone plus insurance plus gas, etc etc.

So even with a 20k salary it is possible.[/quote6f318d68c2]
Damn. I pay $10,000 semester. That's $20,000/year...and I don't have a job, so I'm royally fucked. Imma be payin off student loans for the rest of my life, lol.

Powerbook

23-02-2009 13:58:07

[quotef5d53130ed="TFOAF"][quotef5d53130ed="EatChex89"][quotef5d53130ed="CollidgeGraduit"][quotef5d53130ed="akalic"]On a side note, damn tellers make less than 20k? My mom works at a bank and she tells me of arts student who have gotten their BAs and work full time as tellers..

that's pretty depressing[/quotef5d53130ed]

Story problems normally just use arbitrary numbers..[/quotef5d53130ed]

Well, I am working at a grocery store making about 18k and am paying for my BA degree plus rent/utilites plus phone plus insurance plus gas, etc etc.

So even with a 20k salary it is possible.[/quotef5d53130ed]
Damn. I pay $10,000 semester. That's $20,000/year...and I don't have a job, so I'm royally fucked. Imma be payin off student loans for the rest of my life, lol.[/quotef5d53130ed]


My school is like $52k a year with tuition and room and board, so don't even complain about paying off debt. Of course I did get a lot of scholarships, but I still will have a good amount of debt. Starting salaries from my school are pretty damn high, we were featured in some publication for being among the top colleges with the highest starting salaries for graduates. We will see how this recession will handle this though.

JennyWren

23-02-2009 14:44:59

Cripes, school in the US is insanely expensive.

tylerc

23-02-2009 15:52:18

7th ranked accounting program tuition + room & board + books for less than $20k FTW.

SkatingCrippled

23-02-2009 15:58:17

Community College for 2 years- $5,000

Transfer to NIU Rockford Campus- $8,000/yr

Total Edumacation- $21,000 give or take a grand.

(Business Administration degree)

EatChex89

23-02-2009 16:39:11

my school is actually very cheap. I have student loans of course and it's about 2k a semester.

Long Beach state ftw!

ilanbg

23-02-2009 18:52:43

Dudes, I am attending GWU, the most expensive school in the U.S.[=http//www.forbes.com/2009/02/03/most-expensive-colleges-business-0203_colleges.html]most expensive school in the U.S. (and maybe the world, no idea). It sucks, even with a $35,000/year scholarship I am going to be $80,000 in debt when I graduate.

EDIT Oh my god, it IS the most expensive college in the world[=http//most-expensive.net/college-world]the most expensive college in the world. What the hell.

Powerbook

23-02-2009 20:04:02

[quote93b5abc4f6="ilanbg"]Dudes, I am attending GWU, the most expensive school in the U.S.[=http//www.forbes.com/2009/02/03/most-expensive-colleges-business-0203_colleges.html]most expensive school in the U.S. (and maybe the world, no idea). It sucks, even with a $35,000/year scholarship I am going to be $80,000 in debt when I graduate.

EDIT Oh my god, it IS the most expensive college in the world[=http//most-expensive.net/college-world]the most expensive college in the world. What the hell.[/quote93b5abc4f6]

My tuition is $500 cheaper, but overall our schools seems to be priced the same. I feel you man. Let's hope we get great jobs. I am going to law school, so that means even more debt. God, I wish my relatives were rich.

slambam

23-02-2009 21:14:16

[quote85632135da="EatChex89"]my school is actually very cheap. I have student loans of course and it's about 2k a semester.

Long Beach state ftw![/quote85632135da]

Long Beach St Basketball rocks!

akalic

23-02-2009 21:17:06

[quotecd20044c37="SkatingCrippled"]Community College for 2 years- $5,000

Transfer to NIU Rockford Campus- $8,000/yr

Total Edumacation- $21,000 give or take a grand.

(Business Administration degree)[/quotecd20044c37]

that's about right for me to get my BSc, ~$5000CAD each year for four years.

Although if i get into pharmacy it'd be about 10k each year but meh! set for lyfe!

slambam

23-02-2009 21:26:59

You guys are lucky, no state college in my town. 3 colleges, cheapest is like $25,000/yr.

EatChex89

23-02-2009 23:43:22

[quote095d1c9049="slambam"]You guys are lucky, no state college in my town. 3 colleges, cheapest is like $25,000/yr.[/quote095d1c9049]

That's why you move away from your town.

Iloveipods2

24-02-2009 22:13:43

[quote37e71ff2b2="ilanbg"]Dudes, I am attending GWU, the most expensive school in the U.S.[=http//www.forbes.com/2009/02/03/most-expensive-colleges-business-0203_colleges.html]most expensive school in the U.S. (and maybe the world, no idea). It sucks, even with a $35,000/year scholarship I am going to be $80,000 in debt when I graduate.

EDIT Oh my god, it IS the most expensive college in the world[=http//most-expensive.net/college-world]the most expensive college in the world. What the hell.[/quote37e71ff2b2]

damm no wonder I know 2 kids who transferred from there to my university.

akalic

24-02-2009 22:19:57

[quoted7632b43af="ilanbg"]Dudes, I am attending GWU, the most expensive school in the U.S.[=http//www.forbes.com/2009/02/03/most-expensive-colleges-business-0203_colleges.html]most expensive school in the U.S. (and maybe the world, no idea). It sucks, even with a $35,000/year scholarship I am going to be $80,000 in debt when I graduate.

EDIT Oh my god, it IS the most expensive college in the world[=http//most-expensive.net/college-world]the most expensive college in the world. What the hell.[/quoted7632b43af]

Is there something that they're well known for there? What are you studying?

zr2152

24-02-2009 22:36:04

damn and i thought my 34k a year was bad...lol

ilanbg

24-02-2009 22:39:50

[quoteeaf03c5c99="akalic"][quoteeaf03c5c99="ilanbg"]Dudes, I am attending GWU, the most expensive school in the U.S.[=http//www.forbes.com/2009/02/03/most-expensive-colleges-business-0203_colleges.html]most expensive school in the U.S. (and maybe the world, no idea). It sucks, even with a $35,000/year scholarship I am going to be $80,000 in debt when I graduate.

EDIT Oh my god, it IS the most expensive college in the world[=http//most-expensive.net/college-world]the most expensive college in the world. What the hell.[/quoteeaf03c5c99]

Is there something that they're well known for there? What are you studying?[/quoteeaf03c5c99]

Studying international affairs, it's a good school for studying politics/international affairs. Pretty happy with it and my scholarship makes it affordable so I can't complain. Lots of absurdly rich people at this school, though.