You give up a full-time salary of $45,000 a year to go to school for 2 years. The total cost of going to school is $30,000. If you want to be able to recover your investment in 5 years or less, what is the minimum salary you would need to earn upon earning your degree?
a.
$51,000
b.
$60,000
c.
$69,000
d.
$75,000

Question

You give up a full-time salary of $45,000 a year to go to school for 2 years. The total cost of going to school is $30,000. If you want to be able to recover your investment in 5 years or less, what is the minimum salary you would need to earn upon earning your degree?
a.
$51,000
b.
$60,000
c.
$69,000
d.
$75,000

anonymous · Answer

Money I get if I don't go to school = Money I get if I go to school
7(45000) = -30000 + 5x         ..... x is my salary for the 5 yrs after school
solve for x