To determine how long it will take Brenda to recover her investment in obtaining a bachelor's degree, we can follow these steps:
1. Cost of Investment: The total cost for Brenda to get a bachelor's degree is [tex]$15,000.
2. Median Salaries:
- The median salary for someone with an associate's degree is $[/tex]40,000.
- The median salary for someone with a bachelor's degree is [tex]$55,000.
3. Increase in Salary: By obtaining a bachelor's degree, Brenda's annual salary will increase by:
\[
55,000 - 40,000 = 15,000 \text{ dollars}
\]
4. Time to Recover Investment: To determine how many years it will take for Brenda to recover her $[/tex]15,000 investment, we divide the cost of the investment by the annual salary increase:
[tex]\[
\frac{15,000}{15,000} = 1 \text{ year}
\][/tex]
Therefore, it will take Brenda 1 year to recover her $15,000 investment in obtaining a bachelor's degree, assuming she earns the median salary for someone with a bachelor's degree immediately after graduation.
