Question

Jennifer is thinking about getting an MBA. She will give up making $27,500 a year for the two years it takes to complete the MBA. She will also pay $45,000 in total costs to get the degree. Assume she will make $67,500 a year after she gets her MBA. How long will it take for Jennifer to recover her investment?

Answer 1

total cost: 27,500 * 2 years, plus 45,000
total earnings: 67,500 * (x) where x = the number of years

therefore, you can set

67,500*x > 27,500*2 + 45,000 and solve for x.