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Mazyrski [523]
3 years ago
6

You give up a full time salary of $45,000 a year to go to school for two years that cost $30,000, to recover your investment in

5 years or less what is the minimum salary you need to earn
Mathematics
1 answer:
Tpy6a [65]3 years ago
6 0

The minimum salary you need earn per year is $ 69, 000

<em><u>Solution:</u></em>

You give up a full time salary of $45,000 to go to school for two years  

<em><u>Find the salary for two years</u></em>

Salary for two years = 45000 + 45000 = 90000

Thus salary for two years is $ 90,000

Cost for school is $ 30,000

<em><u>Total cost:  salary for two years + cost for school</u></em>

30, 000 + 90, 000 = 120000

So you need to recover $ 120000 in total

To recover your investment in 5 years or less what is the minimum salary you need to earn

Therefore,

\rightarrow \frac{120000}{5} = 24000

So each year you would have to earn 45,000 + 24,000 = 69, 000

Thus the minimum salary you need earn per year is $ 69, 000

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