Question

Assume that by continuing your education, you increased your yearly earning potential from $21,484 to $39,746. If the additional education costs $18,000, in about how many years will it pay for itself?

Answer 1

By continuing my education I increased my earning potential from $21,484 to $39,746 a year. That's a difference of $18262 a year.

If the additional education costs $18,000, then in one year it will pay for itself.

Answer 2

The answer is 1 year.

Explanation:

You increased your yearly earning potential from $21,484 to $39,746.

The difference is :
`39746-21484=18262` dollars

This difference is in a year.

So, if the additional education costs $18,000, then in about 1 year it will pay for itself.

Hence, the answer is 1 year.