Question

You give up a full-time salary of $45,000 a year to go to school for two years the total cost of going to school is $30,000 if you want to be able to recover your investment in five years or less what is the minimum salary you would need to earn upon earning your degree

Answer 1

The minimum salary you would need to earn after your college degree is $51,000 per year.

What does college degree cost?

College education costs a lot, ranging from $10,000 to $38,000 annually.

Before one embarks on a college education, it is essential to plan the sources of funding.  However, embarking on this project yields better results.

Some of the sources of funding for a college education include grants, scholarships (part and full), self-financing, and student loans.

Data and Calculations:

Full-time salary before school = $45,000

The total cost of school for two years = $30,000

Recovery Period = 5 years

Annual recovery amount = $6,000 ($30,000/5)

Minimum required salary = $51,000 ($45,000 + $6,000)

Thus, the minimum salary you would need to earn after your college degree is $51,000 per year.

Learn more about recovering college costs at brainly.com/question/14481541

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