3. ms. mcclure is thinking about getting her masters degree in education. she estimates that she will spend…

3. ms. mcclure is thinking about getting her masters degree in education. she estimates that she will spend about $6,000 a year for 3 years to get her degree. her plans are to take evening classes so she can keep her current teaching job. when she finishes her degree, she will get a $4,000 a year raise. how long will it take her to recover her investment?\n4. tiffany makes $8 an hour and works 15 hours a week. tosha makes $9.50 an hour and works 50 hours per month. who will make more money this year?\n5. anton is seeking an advanced degree that requires an investment of $70,000 and a 3 - year commitment during which he will lose $20,000 a year in income. without considering the interest lost on the investment, how long will it take him to recover his out - of - pocket investment and lost earnings if he makes $10,000 more per year after completing the degree?\n6. if josh spends $4,000 a year on tuition and fees, $1,200 a year on books, and foregoes earning $10,000 a year, how much will his 4 - year degree cost?\n7. if you study an extra 10 hours a week for a year (52 weeks) and you earn a 4 - year scholarship valued at $50,000, what is your hourly return on your investment in study time?\n8. assume you spend $3,500 a year for the first 2 years attending a junior college and then you spend $6,000 a year for the remaining 2 years at the local college. your friend spends $5,000 a year for 4 years at another local school. compare the costs of both options.

3. ms. mcclure is thinking about getting her masters degree in education. she estimates that she will spend about $6,000 a year for 3 years to get her degree. her plans are to take evening classes so she can keep her current teaching job. when she finishes her degree, she will get a $4,000 a year raise. how long will it take her to recover her investment?\n4. tiffany makes $8 an hour and works 15 hours a week. tosha makes $9.50 an hour and works 50 hours per month. who will make more money this year?\n5. anton is seeking an advanced degree that requires an investment of $70,000 and a 3 - year commitment during which he will lose $20,000 a year in income. without considering the interest lost on the investment, how long will it take him to recover his out - of - pocket investment and lost earnings if he makes $10,000 more per year after completing the degree?\n6. if josh spends $4,000 a year on tuition and fees, $1,200 a year on books, and foregoes earning $10,000 a year, how much will his 4 - year degree cost?\n7. if you study an extra 10 hours a week for a year (52 weeks) and you earn a 4 - year scholarship valued at $50,000, what is your hourly return on your investment in study time?\n8. assume you spend $3,500 a year for the first 2 years attending a junior college and then you spend $6,000 a year for the remaining 2 years at the local college. your friend spends $5,000 a year for 4 years at another local school. compare the costs of both options.

Answer

3.

Explanation:

Step1: Calculate total investment

The annual cost of getting the degree is $6000, and it takes 3 years. So the total investment $I = 6000\times3=18000$.

Step2: Calculate time to recover

She gets a $4000 - a - year raise. Let $t$ be the number of years to recover the investment. We use the formula $I = 4000t$. So $t=\frac{18000}{4000}=4.5$ years.

Answer:

4.5 years

4.

Explanation:

Step1: Calculate Tiffany's annual income

Tiffany makes $8$ dollars an hour and works 15 hours a week. There are 52 weeks in a year. So her annual income $T = 8\times15\times52=6240$.

Step2: Calculate Tosha's annual income

Tosha makes $9.50$ dollars an hour and works 50 hours a month. There are 12 months in a year. So her annual income $S=9.5\times50\times12 = 5700$.

Step3: Compare incomes

Since $6240>5700$, Tiffany makes more money.

Answer:

Tiffany

5.

Explanation:

Step1: Calculate total investment

The investment for the degree is $70000$, and the lost - income for 3 years is $20000\times3 = 60000$. So the total investment $I=70000 + 60000=130000$.

Step2: Calculate time to recover

He makes $10000$ more per year after the degree. Let $t$ be the number of years to recover. Using the formula $I = 10000t$, we get $t=\frac{130000}{10000}=13$ years.

Answer:

13 years

6.

Explanation:

Step1: Calculate annual cost

The annual tuition and fees are $4000$, the annual cost of books is $1200$, and the annual foregone earnings are $10000$. So the annual cost $C=4000 + 1200+10000=15200$.

Step2: Calculate total 4 - year cost

The total 4 - year cost $T = 15200\times4=60800$.

Answer:

$60800$

7.

Explanation:

Step1: Calculate total study - time

You study an extra 10 hours a week for 52 weeks a year for 4 years. So the total study - time $h=10\times52\times4 = 2080$ hours.

Step2: Calculate hourly return

The scholarship is worth $50000$. The hourly return $r=\frac{50000}{2080}\approx24.04$ dollars per hour.

Answer:

Approximately $$24.04$ per hour

8.

Explanation:

Step1: Calculate your cost

For the first 2 years, you spend $3500$ a year, and for the next 2 years, you spend $6000$ a year. So your total cost $C_1=3500\times2+6000\times2=7000 + 12000=19000$.

Step2: Calculate your friend's cost

Your friend spends $5000$ a year for 4 years. So your friend's total cost $C_2=5000\times4 = 20000$.

Step3: Compare costs

Since $19000<20000$, your option is less costly.

Answer:

Your option is less costly.