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 Please select the best answer from the choices provided A B C D

Respuesta :

Answer:

60,000

Step-by-step explanation:


Answer:

Answer is C ; $69000

Step-by-step explanation:

The total cost of going to school is $30,000.

Total salary loss = [tex]2\times45000=90000[/tex] dollars

Total cost you will incur:

[tex]30000+90000=120000[/tex] dollar

You have to recover this amount in 5 years, so per year it will be =

[tex]\frac{120000}{5}=24000[/tex] dollars

Hence, each year you will have to earn [tex]45000+24000=69000[/tex] dollars.