From health tips to tech hacks, find it all on IDNLearn.com. Join our interactive community and get comprehensive, reliable answers to all your questions.
Sagot :
To determine how long it will take Brenda to recover her investment in obtaining a bachelor's degree, we need to compare the increase in her annual salary with the cost of getting the degree.
### Step-by-Step Solution:
1. Identify the median salaries:
- Median salary for associate's degree: \[tex]$38,000 - Median salary for bachelor's degree: \$[/tex]50,000
2. Calculate the difference between the salaries:
[tex]\[ \text{Difference in salaries} = \text{Median salary for bachelor's degree} - \text{Median salary for associate's degree} \][/tex]
Plugging in the numbers:
[tex]\[ \text{Difference in salaries} = 50,000 - 38,000 = 12,000 \][/tex]
Brenda will earn \[tex]$12,000 more per year with a bachelor's degree compared to what she earns with an associate's degree. 3. Determine the cost of obtaining the bachelor's degree: - Cost of bachelor's degree: \$[/tex]15,000
4. Calculate the time to recover the investment:
[tex]\[ \text{Recovery time} = \frac{\text{Cost of bachelor's degree}}{\text{Difference in salaries}} \][/tex]
Using the values:
[tex]\[ \text{Recovery time} = \frac{15,000}{12,000} = 1.25 \text{ years} \][/tex]
Therefore, it will take Brenda 1.25 years to recover her investment in obtaining a bachelor's degree.
### Step-by-Step Solution:
1. Identify the median salaries:
- Median salary for associate's degree: \[tex]$38,000 - Median salary for bachelor's degree: \$[/tex]50,000
2. Calculate the difference between the salaries:
[tex]\[ \text{Difference in salaries} = \text{Median salary for bachelor's degree} - \text{Median salary for associate's degree} \][/tex]
Plugging in the numbers:
[tex]\[ \text{Difference in salaries} = 50,000 - 38,000 = 12,000 \][/tex]
Brenda will earn \[tex]$12,000 more per year with a bachelor's degree compared to what she earns with an associate's degree. 3. Determine the cost of obtaining the bachelor's degree: - Cost of bachelor's degree: \$[/tex]15,000
4. Calculate the time to recover the investment:
[tex]\[ \text{Recovery time} = \frac{\text{Cost of bachelor's degree}}{\text{Difference in salaries}} \][/tex]
Using the values:
[tex]\[ \text{Recovery time} = \frac{15,000}{12,000} = 1.25 \text{ years} \][/tex]
Therefore, it will take Brenda 1.25 years to recover her investment in obtaining a bachelor's degree.
We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. Your search for answers ends at IDNLearn.com. Thanks for visiting, and we look forward to helping you again soon.