Question

In order to go to college, Hank goes from working full-time making $28,000 per year to working part-time at half the salary for two years. The cost of his education will be $5,000. If Hank makes $33,000 per year after getting his degree, approximately how many years will it take him to recover his investment? a. 1 b. 5. 6 c. 6. 6 d. 12. 2.

Answer 1

The total number of years taken by Hank to recover the total investment he has done in his education is 6.6 years.

Computation of the number of years taken by Hank to recover investment is:

$\begin{aligned}\text{Number of Years}&=\frac{ \text{Total Income per Year after degree}}{\text{cost of the education}} \\\text{Number of Years}&= \frac{\ 33000}{\ 5000}\\\text{Number of Years}&= 6.6\:Years\end{aligned}$

Therefore, the correct option is c.

To know more about the computation of a number of years, refer to the link below:

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