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16 October, 19:22

James has a job with a current salary of $42,000. He wants to earn a college degree that will take him 2 years to complete and it will cost $28,000 per year. He will go to school full time and will not be able to work. Upon graduation, James' new salary will be $56,000 per year. How many years will it take James to recover his investment?

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  1. 16 October, 23:13
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    Amount needed to complete a college degree = 28000 (2 years) = $56,000

    42,000 (2 years) = $84,000

    56,000 + 84,000 = $140,000

    140,000 : 56,000 = 2.5 years

    It would take him two years and a half to recover his investment.
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