Question

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? Answers 1. RobertKer Given that Brenda wants to recover her investment, we can say that it would take her almost 2 years to get her median salary. How to solve for the median salary We have the total costs to be$15000
then the number of years that it would take to get the degree is 2 years.
In order to get the median salary we would have to carry out a division
=  2×$45,258 +15,000 =$105,516
then  $63,292 -45,258 =$18,034
$105,516/($18,034 = 5.85
2 + 5.85 = 7.85
This can be approximated to almost 8 years
Hence the median salary that we have here is almost 8 years
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Complete question
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? A graph titled Median Annual Household Income by Educational Attainment of Householder, 1997. Professional degree, 92,228 dollars; doctorate degree, 87,232 dollars; master’s degree, 68,115 dollars; Bachelor’s degree or more, 63,292 dollars; Bachelor’s degree, 59,048 dollars; associate degree, 45,258 dollars; some college, no degree, 40,015 dollars; high school graduate, 33,779 dollars; ninth to twelfth grade, 19,851 dollars; than twelfth grade, 15,541 dollars. a. almost 6 years b. almost 7 years c. almost 8 years d. almost 9 years