Question

Based on the table, how much more money would a person with a bachelor's degree earn than a person with an associate's degree over a 30 year career?

A) $16,000
B) $480,000
C) $1,095,000
D) $1,575,000

Answer 1

B) $480,000

Explanation:

Annual salary of a person with associate's degree

= $36,500

Over a 30 year career the person would earn;

= 30 × 36500

= $10,95,000

Now, annual salary of a person with bachelor's degree = $52,500

Over a course of 30 years he would earn;

= 30 × 52500

= $15,75,000

Difference = $15,75,000 - $10,95,000 = $480,000

So the person with bachelor's degree would earn $480,000 more than a person with associate's degree.