Question: The cost of attending a private college for one year is $6000 for tuition, $2000 for the room, $1500 for meals, and $500 for books and supplies. The student could also have earned $15,000 by getting a job instead of going to college and 10 percent interest on expenses he or she incurs at the beginning of the year. Calculate the explicit, implicit and total economic cost of attending college.

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