Question

Assume that by continuing your education, you increased your yearly

earning potential from $21,484 to $39,746. If the additional education
costs $36,000, in about how many years will it pay for itself?

Answer 1

Question: 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.

Answer: 1 year

Answer 2

2 years

Step-by-step explanation:

The increase in yearly earnings is

= $39,746 - $21,484

=$18,262

Every year, extra earning is $18,262

the cost of education is $36,000

It will take =$36,000/$18,262 years to repay

=1.971 years

=2 years