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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?

Respuesta :

First, let's calculate your total cost:

1) salary loss: 45000+45000=90 000
2) cost: 30 000

Total cost:
30 000+90 000=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.
Lanuel

The minimum salary which you must earn upon earning your degree is equal to $69,000.

How to calculate the minimum salary?

First of all, we would determine the total amount of money that was lost during the two (2) year school program as follows:

Salary loss = 45000 × 2

Salary loss = $90,000

Since the total cost of enrolling in the two (2) year school program is $30,000, the total loss is given by:

Total loss = Salary loss + Total cost

Total loss =  90,000 + 30,000

Total loss = $120,000.

For the five (5) year period, you need to recover:

Earnings = 120,000/5

Earnings = $24,000.

Now, we can determine the minimum salary:

Minimum salary = 45,000 + 24,000

Minimum salary = $69,000.

Read more on minimum salary here: https://brainly.com/question/14616025

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