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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

Verified Answer :

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1.) Salary loss 45 000+45 000=90 000
2.) Cost 30 000

Total cost 90 000 + 30 000 = 120 000

So you need to recover 120 000 in total or 120 000/5= 24 000

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

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