Brenda has an associate's degree earning the median salary. She wants to quit working and go to college to get just a basic bachelor's degree. If she completes her degree in 2 years and it costs $15,000, how long will it take her to recover her investment assuming that she earns the median salary?

Associates degree,$45,258 Bachelors $59,045

a.

almost 6 years

b.

almost 7 years

c.

almost 8 years

d.

almost 9 years

Question

Valerie Knight

Mathematics

12 May, 15:42

Brenda has an associate's degree earning the median salary. She wants to quit working and go to college to get just a basic bachelor's degree. If she completes her degree in 2 years and it costs $15,000, how long will it take her to recover her investment assuming that she earns the median salary?

Associates degree,$45,258 Bachelors $59,045

a.

almost 6 years

b.

almost 7 years

c.

almost 8 years

d.

almost 9 years

+3

Answers (1)

Know the Answer?

Cael Walsh · Answer 1

Brenda's median salary is below of half of $45,258 which is approximately equal to $22,629.

If she study for two years, her expenses will be $15,000*24 plus the loss salary for two years and that is $22,629*24 which is equal to $903,096

To recover this expenses with the new salary $59,045

$903,096/59045=15

The answer is almost 6 years.