Business, 21.02.2020 16:46 sheila54

After defeating the Dark Lord, Ron's brother offers him a job at Weasleys' Wizard Wheezes. If Ron takes this job, his annual income will be 1 million galleons. Alternatively, Ron can return to Hogwarts to finish school, but then he must give up the job with his brother. Graduating will take him a year and it will cost 10,000 galleons in direct costs. He knows for sure he can become an Auror after finishing his education, at a yearly salary of 500,000 galleons. He thinks that the probability that he becomes Minister of Magic 25 years after graduating is 25%, and the minister's salary is 5 million galleons per year. Regardless of his choice, he wants to retire in 30 years. Assume the interest rate is 5%.

a. If Ron is only concerned with the monetary rewards, will he go back to Hogwarts?
b. What probability of becoming Minister of Magic would make him indifferent between going back to school and going to work for his brother?

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After defeating the Dark Lord, Ron's brother offers him a job at Weasleys' Wizard Wheezes. If Ron ta...

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