Homework Help is Here – Start Your Trial Now!
Math
Algebra
25.An engineering student who will soon receive his B.S. degree is contemplating continuing his formal education by working toward an M.S. degree. The student estimates that his average earnings for the next 6 years with a B.S. degree will be $30,000 per year. If he can get an M.S. degree in one year, his earnings should average 32,000$ per year for the subsequent 5 years. His earnings while working on the M.S. degree will be negligible and his additional expenses will be

25.An engineering student who will soon receive his B.S. degree is contemplating continuing his formal education by working toward an M.S. degree. The student estimates that his average earnings for the next 6 years with a B.S. degree will be $30,000 per year. If he can get an M.S. degree in one year, his earnings should average 32,000$ per year for the subsequent 5 years. His earnings while working on the M.S. degree will be negligible and his additional expenses will be

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
See similar textbooks
icon
Related questions
Question
i need the answer quickly
25. An engineering student who will soon receive his B.S. degree is contemplating continuing his formal education by workingtoward an M.S. degree. The student estimates that his average earnings for the next 6 years with a B.S. degree will be $30,000 per year. If he can get an M.S. degree in one year, his earnings should average 32,000$ per year for the subsequent 5 years. His earnings while working on the M.S. degree will be negligible and his additional expenses will be $10,000. The student estimates that his averageper-year earnings in the three decades following the initial 6-year period will be $32,000, 35,000$ and 39,000$ if he does not stay for an M.S. degree. If he receives an M.S. degree his earnings in the three decades can be stated as $32,000 +x,$35,000 +x, and $39,000 +x. for an interest rate of 13% find the value of x for which the extra investment in formal education will pay for its self. Answer($8104)
Transcribed Image Text:25. An engineering student who will soon receive his B.S. degree is contemplating continuing his formal education by workingtoward an M.S. degree. The student estimates that his average earnings for the next 6 years with a B.S. degree will be $30,000 per year. If he can get an M.S. degree in one year, his earnings should average 32,000$ per year for the subsequent 5 years. His earnings while working on the M.S. degree will be negligible and his additional expenses will be $10,000. The student estimates that his averageper-year earnings in the three decades following the initial 6-year period will be $32,000, 35,000$ and 39,000$ if he does not stay for an M.S. degree. If he receives an M.S. degree his earnings in the three decades can be stated as $32,000 +x,$35,000 +x, and $39,000 +x. for an interest rate of 13% find the value of x for which the extra investment in formal education will pay for its self. Answer($8104)
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
SEE MORE TEXTBOOKS