A workshop designed to retain workers 55 years age and older who have lost their

Question

A workshop designed to retain workers 55 years age and older who have lost their jobs is proposed. Suppose the workshop will increase the income of each participant by $1000 per year for a period of 10 years. a.) Calculate the present value of the increased income per participant with each of the following discount rates: 0 percent, 1 percent, 3 percent, 5 percent, and 10 percent. b.) If the cost per participant is $8,000 and all those costs are incurred in the first year, at what discount rates will the benefit-cost ratio of the project exceed 1? I have the answers for part a: = 1,000 for 0%, = 905.31 for 1% , = 744.10 for 3% , = 613.91 for 5% , = 385.55 for 10% But i need help with part b

Explanation / Answer

Hey, anonymous I was following the example in page 200 on Hyman. How did you get the answers for B? Just want to know how to get them. I want to learn to get the answer. Thank you buddy!

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