Jennifer has just finished high school and is deciding whether to start working or go to college. She has already been offered a job that pays $35,000 a year. Four years of college will cost $12,000 each year. She would earn an extra $20,000 each year after she graduates for the 45 years she plans on working until she retires. Assume that the interest rate is 8.5%. What is Jennifer's opportunity cost of one year of college?
A. $12,000
B. $17,000
C. $35,000
D. $47,000
D. $47,000
Economics
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