20) andrew is a college junior who has decided he wants to be an elementary school teacher. to get his…

20) andrew is a college junior who has decided he wants to be an elementary school teacher. to get his teaching degree, andrew would need to add two semesters of coursework to his college education and delay his graduation date by one year. at andrews college, tuition is $3,800 per semester. if andrew decided not to pursue a teaching degree and graduated earlier, he would likely be able to find a full - time job with a salary of $28,000 per year. what is andrews total cost of obtaining a degree in teaching? 21) lashelle is a teacher who wants to obtain her masters degree. she can do this while working full - time if she attends evening and weekend classes. it will take her three years to complete the degree, with a tuition cost of $10,000 per year. after she has her masters degree, lashelle will earn an additional $2,500 per year in her teaching job. how long will it take lashelle to recover her financial investment in her masters degree?

20) andrew is a college junior who has decided he wants to be an elementary school teacher. to get his teaching degree, andrew would need to add two semesters of coursework to his college education and delay his graduation date by one year. at andrews college, tuition is $3,800 per semester. if andrew decided not to pursue a teaching degree and graduated earlier, he would likely be able to find a full - time job with a salary of $28,000 per year. what is andrews total cost of obtaining a degree in teaching? 21) lashelle is a teacher who wants to obtain her masters degree. she can do this while working full - time if she attends evening and weekend classes. it will take her three years to complete the degree, with a tuition cost of $10,000 per year. after she has her masters degree, lashelle will earn an additional $2,500 per year in her teaching job. how long will it take lashelle to recover her financial investment in her masters degree?

Answer

Explanation:

Step1: Calculate Andrew's tuition cost

Andrew adds 2 semesters. Tuition is $3,800 per semester, so tuition cost is $3,800×2 = $7,600.

Step2: Calculate lost - salary cost

He delays graduation by 1 year with a potential salary of $28,000 per year. So lost - salary cost is $28,000.

Step3: Calculate total cost

Total cost = tuition cost+lost - salary cost = $7,600 + $28,000=$35,600.

Step4: Calculate LaShelle's total tuition cost

LaShelle's tuition cost per year is $10,000 and it takes 3 years, so total tuition cost is $10,000×3 = $30,000.

Step5: Calculate time to recover investment

She earns an additional $2,500 per year. Time to recover investment = total tuition cost÷additional annual earnings = $30,000÷$2,500 = 12 years.

Answer:

Andrew's total cost of obtaining a teaching degree: $35,600 Time for LaShelle to recover her financial investment: 12 years