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niah works as a retail sales clerk earning $18,000 per yer. she plans to go to school for medical billing that has a median salary or $35,000. the cost of her education will be $20,000. if niah does not work for the 2 years that she is in school, about how long will it take her to recover her investment if she gets a medical billing job making the median salary when she graduates

2 Answers

5 votes

Final answer:

It will take Niah approximately 2.12 years to recover her investment in education.

Step-by-step explanation:

To calculate the time it will take for Niah to recover her investment, we need to compare her earnings before and after going to school.

Currently, she earns $18,000 per year as a retail sales clerk.

After completing her education in medical billing and getting a job with a median salary of $35,000, her annual earnings will increase by $35,000 - $18,000 = $17,000.

Since Niah does not work for the 2 years she is in school, her total loss of income during that time will be

$18,000 * 2 = $36,000.

Therefore, it will take Niah -

= $36,000 ÷ $17,000

= 2.12 years to recover her investment in education.

User Jorge Quintana
by
7.2k points
3 votes

Answer:

Its D 3.3 years

Step-by-step explanation:

User Gavy
by
6.6k points
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